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OrthAlign raises $10 million to fund product development for TJR applications
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OrthAlign Inc. announced it has raised $10 million in a series D financing round for product development as the company expands from a solution provider for total knee surgery to a platform technology provider for total knee, partial knee and total hip replacements, according to a company press release.
According to the release, the funds will also be used to support expansion through investment in hiring and key programs in markets in United States and international markets. The company manufactures and distributes KneeAlign, a computer-assisted navigation application for total knee replacement.
River Cities Capital Funds, California Technology Ventures, Research Corporation Technologies and Mutual Capital Partners led this latest financial round.
“We are pleased to have completed our latest financial round to support our operational gals of strong revenue growth and application expansion,” Eric B. Timko, chairman and chief executive officer of OrthAlign, said in the release. “We continue to invest in developing to KneeAlign because we see it as a key component of the total knee replacement technology landscape environment. But, we are no longer a single-solution provider, and have rapidly expanded our commercial platform technology to include solutions for partial knee replacement with our UniAlign application. Our solution for total hip replacement, HipAlign, supports both posterior and direct anterior approaches and is currently in a limited user release with full-commercialization slated for 2018.”
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