CAESAREA, Israel, May 19, 2015 /PRNewswire/ -- OrthoSpace Ltd.
("OrthoSpace" or "Company") announced today the completion of a
financing transaction led by HealthpointCapital, LLC
("HealthpointCapital"), which also includes existing investors
Smith & Nephew and TriVentures. The proceeds from the
transaction will facilitate the Company's continued market
adoption, clinical study programs and entry into the emerging
markets. The Company's flagship product, InSpace, is a
disruptive technology for the treatment of severe rotator cuff
tears. The terms of the transaction were not disclosed.
According to OrthoSpace's CEO, Itay
Barnea, "This round of financing and new partnership with
HealthpointCapital will position OrthoSpace for worldwide
growth. InSpace offers a treatment for patients who currently
have few options in the continuum-of-care for rotator cuff injury.
The technology addresses a large and growing market segment with
limited treatment options."
"With five years of clinical experience and over 5,000
procedures completed, we have developed a loyal following among
surgeons in Europe and
Israel. We look forward to expanding our footprint into new
markets," said Assaf Dekel MD,
OrthoSpace's Co-Founder and Medical Director.
OrthoSpace, Ltd.
OrthoSpace is a privately held medical device company located in
Caesarea, Israel. The
Company's product, InSpace, is an orthopedic biodegradable balloon
system that is simple, safe and a minimally invasive method that
addresses unmet clinical needs in rotator cuff
repair. InSpace is CE Marked and commercialized in
Europe and Israel and has been granted an Investigational
Device Exemption (IDE) to initiate a pivotal human clinical study
of the system in the United
States.
HealthpointCapital, LLC
HealthpointCapital is a values-driven, research-based private
equity firm exclusively focused on the orthopedic and dental device
businesses. HealthpointCapital has more than $800 million of institutional capital under
management and is the only firm of its kind to focus exclusively on
the $45 billion worldwide orthopedic
and dental device industry.
Smith & Nephew plc
Smith & Nephew is a global medical technology business
dedicated to helping healthcare professionals improve people's
lives. With leadership positions in Orthopaedic
Reconstruction, Advanced Wound Management, Sports
Medicine and Trauma & Extremities, Smith & Nephew
has around 14,000 employees and a presence in more than 100
countries. Annual sales in 2014 were more than $4.6 billion. Smith & Nephew is a member of
the FTSE100 (LSE: SN, NYSE: SNN).
TriVentures
TriVentures is a venture capital fund focused on investing in
medical device and digital health technologies from seed stage to
industry leaders. TriVentures has over $100
million under management dedicated to ventures primarily in
Israel and the United States.
Contact:
Itay Barnea, CEO
OrthoSpace Ltd.
Halamish 7 Caesarea, Israel
info@orthospace.co.il
+972-4-6667330
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SOURCE OrthoSpace, Ltd.