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Neo Medical completed a Series B financing round, securing an additional equity investment of up to $68 million (CHF 58 million) to accelerate its global growth.
The proceeds will be used to increase Neo’s market share in key regions with an immediate focus on expanding the US business, deploying new, complementary and disruptive products, and enhancing the capabilities of its AI-driven augmented reality intraoperative data platform, ADVISE, part of the Neo Universal portfolio of advanced surgical technologies.
“Thoracolumbar spine surgery is a large market that has lacked disruptive innovation for decades – the spine sector needs innovation to improve patient outcomes and drive positive change for all stakeholders,” said Vincent Lefauconnier, Neo Medical’s CEO and Co-Founder. “This is precisely what we have set out to achieve with Neo Universal™ – a platform introducing new technological and structural approaches to create real value both inside and outside the operating theatre. After successfully entering key markets, we are ready to scale. This funding will enable us to grow and push the boundaries of what is possible in spine surgery, bringing our solutions to more healthcare providers and, most importantly, improving outcomes for patients.”
Since commercial launch in 2016, Neo’s technologies have been used to treat around 36,000 patients, with the company making significant progress in both operational and clinical performance compared to traditional standards. Studies have shown Neo’s products can cut implant failure rates by up to three times, infection risk by half, and time spent in surgery by up to 29%, reducing the need for revisionary surgery by as much as 50%.
Mr. Lefauconnier went on to say, “This raise is the next step in solidifying Neo Universal™ as one of the premier solutions on the market. Intended to treat thoracolumbar patients in inpatient and outpatient settings, it supports both MIS and open approaches. Launching extended capabilities for complex surgery will soon optimize our platform coverage from ambulatory surgery to ever more complex trauma and deformity.”
Source: Neo Medical
Neo Medical completed a Series B financing round, securing an additional equity investment of up to $68 million (CHF 58 million) to accelerate its global growth.
The proceeds will be used to increase Neo’s market share in key regions with an immediate focus on expanding the US business, deploying new, complementary and disruptive products, and...
Neo Medical completed a Series B financing round, securing an additional equity investment of up to $68 million (CHF 58 million) to accelerate its global growth.
The proceeds will be used to increase Neo’s market share in key regions with an immediate focus on expanding the US business, deploying new, complementary and disruptive products, and enhancing the capabilities of its AI-driven augmented reality intraoperative data platform, ADVISE, part of the Neo Universal portfolio of advanced surgical technologies.
“Thoracolumbar spine surgery is a large market that has lacked disruptive innovation for decades – the spine sector needs innovation to improve patient outcomes and drive positive change for all stakeholders,” said Vincent Lefauconnier, Neo Medical’s CEO and Co-Founder. “This is precisely what we have set out to achieve with Neo Universal™ – a platform introducing new technological and structural approaches to create real value both inside and outside the operating theatre. After successfully entering key markets, we are ready to scale. This funding will enable us to grow and push the boundaries of what is possible in spine surgery, bringing our solutions to more healthcare providers and, most importantly, improving outcomes for patients.”
Since commercial launch in 2016, Neo’s technologies have been used to treat around 36,000 patients, with the company making significant progress in both operational and clinical performance compared to traditional standards. Studies have shown Neo’s products can cut implant failure rates by up to three times, infection risk by half, and time spent in surgery by up to 29%, reducing the need for revisionary surgery by as much as 50%.
Mr. Lefauconnier went on to say, “This raise is the next step in solidifying Neo Universal™ as one of the premier solutions on the market. Intended to treat thoracolumbar patients in inpatient and outpatient settings, it supports both MIS and open approaches. Launching extended capabilities for complex surgery will soon optimize our platform coverage from ambulatory surgery to ever more complex trauma and deformity.”
Source: Neo Medical
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JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.
