Score! $15 Million to OrthAlign

OrthAlign, Inc. has announced the completion of a $15.0 million preferred series capital raise led by current OrthAlign investors, River Cities Capital Funds, a growth equity firm investing in healthcare and IT companies, and Mutual Capital Partners, a venture fund investing in rapidly growing, post-revenue technology businesses.

“River Cities has had the opportunity to watch OrthAlign’s technology platform mature, see the build out of its team, and to witness the impressive growth of the business over the past several years. We look forward to partnering with OrthAlign as the company continues to equip surgeons with the tools and information necessary to deliver their patients the highest quality care and consistency every time they operate, ” says Carter McNabb, River Cities Managing Director, in the November 6, 2014 news release.

Wayne Wallace, a partner at Mutual Capital Partners, added, “We spoke with many of OrthAlign’ s orthopedic surgeon, hospital, and distribution customers and were impressed with the enthusiasm expressed by key opinion leaders at world renowned medical institutions using OrthAlign technology. OrthAlign has the core technology and team needed to build a significant business in a large high-growth market. We look forward to helping the team and building on prior success in the orthopedic space.”

“It’s obvious that the orthopedics landscape is changing considerably. Further differentiation and technological advancement in joint products has become increasingly difficult. The market is now turning to surgical tools and technologies that will make surgeons more accurate, give them greater confidence through real-time data, and provide repeatability. OrthAlign is in a prime position to take advantage of this market opportunity by introducing new products, increasing the reach of our sales and marketing efforts, and expanding internationally, ” said William E. Maya, OrthAlign’s Chief Executive Officer. “We are pleased that River Cities and Mutual Capital Partners share our vision and confidence in OrthAlign technology.”

Maya told OTW, “Orthopedic surgeons have shared with us their challenges in consistent acetabular cup positioning and confidently measuring leg length and joint offset. Surgeons will soon have a handheld technology that firmly addresses those challenges and dramatically improves precision in Total Hip Arthroplasty, with OrthAlign Plus. As with any new product introduction in the medical world, surgeon education and training will be key to the success of OrthAlign Plus. This will consist of a comprehensive education platform, including online training materials, cadaver labs, and surgeon-to-surgeon preceptorships. In addition to a successful OrthAlign Plus launch, we will invest in four other key strategic areas: 1) more clinical studies demonstrating the value of our technology in better patient outcomes and results, 2) developing new products and technologies for the marketplace, 3) adding additional members to our domestic sales force and distributor network, and 4) further expanding our international footprint.”