Arthromeda closed an undisclosed Series D financing to support the ArthroSight-PS Hip Alignment System through commercial regulatory approvals and clinical validation. A series of cadaver labs showed that the intelligent orthopedic navigation system offered accurate and precise implant positioning and provided real-time position angles, leg length and femoral offset difference measurements.
Arthromeda cites that during the 10 years of the study, the number of hip surgeries more than doubled from 138,700 in 2000 to 310,800 in 2010. The number grew by 92% to 80,000 among those aged 75 and older, and jumped by 205% in those aged 45 to 54, to 51,900. Due to the aging baby boomer population, the number of hip surgeries is projected to increase dramatically – doubling by 2030. ORTHOWORLD® reported in the ORTHOPAEDIC INDUSTRY ANNUAL REPORT® a 2.3% increase in the hip reconstruction market in 2016 with projections surpassing $7 billion in 2017. Additionally, projections show an increase of 2.3% to 2.5% year over year for the next five years in this market segment.
Previously known as ArthroCAD, Arthromeda was founded in 2011. The privately-held company is developing sensor based, intelligent technologies for use in joint replacement procedures.
Sources: Arthromeda Inc.; ORTHOWORLD®