Franklin, MA-based Arthrosurface, a developer of less-invasive joint resurfacing systems with some 7,000 of its devices now implanted in patients, announced today that is has taken in roughly $4 million in Series F funding. With the new round, the company has raised approximately $31 million in equity from repeat investor Boston Millennia Partners and private investors.So what does Arthrosurface do?
Arthrosurface is entering its fourth year of commercial launch with approximately 7,000 devices implanted by more than 2,000 surgeon users in the various joint applications of the HemiCAP(R) system. Last year, US implant sales were up 55% with strong growth across all key product lines. In particular, sales of the company's first US knee device, the Patello-Femoral HemiCAP(R), grew 237% year on year. "We have found that within the first year of clinical launch, implanting surgeons closely monitor patient progress and, once they have confirmed positive results, sales begin to rise significantly. An excellent example of this was our great toe product. Cases went from a few hundred in the first year to thousands within two years. We expect similar adoption with the release of our new products," commented company president Steve Tallarida.Imagine that. Franklin used to be known for textiles and straw hats. Someday it may be known for joint repair products.
The company's HemiCAP(R) systems consist of a range of contoured articular prosthetics and instrumentation intended for the repair of significant lesions and cartilage damage in the major joints. Arthrosurface continues to grow its line of shoulder, great toe, patello-femoral and hip products in the US. These same products are sold in Europe in addition to its knee femoral condyle and talar dome devices.
For more info on Arthrosurface you can visit their web site. Select patient and follow the links to see what they can do for your hip, shoulder, great toe, etc.
Check out the video coverage they have received here.
And most importantly, their customer testimonials can be found here.
They are located at 28 Forge Parkway.