New Investment by Parvizi Surgical Innovation

Parvizi Surgical Innovation, LLC has announced an investment in a development-stage hip replacement surgery device company based in Sydney, Australia, named Navbit Holdings Pty Ltd.

Founded in 2015 by Professors Bill and Lynette Walter, Navbit is developing a disposable, single-use surgical device to assist orthopedic surgeons in correctly positioning acetabular cups during hip replacement surgery. The Walters are lead developers of the device, named the Navbit Sprint. The Navbit Sprint is designed to lower the risk of dislocation, which is the most common cause of failure of hip replacement surgery.

“The issue of dislocation after hip replacement is a real one and needs to benefit from technological advancement,” said Professor Walter. “We have developed a disposable, simple to use technology that combines sophistication of software to deliver accuracy while preserving the flow of the surgery and importance of practicality and reproducibility.”

Lynette Walter, CEO, and co-founder of Navbit, told OTW, “We develop products which use cutting edge sensor technologies from the fast-moving consumer tech industry. Navbit Sprint is an affordable technology that assists surgeons with the correct positioning of components during hip replacement. By assisting surgeons to more reliably and accurately place the implant, we expect to reduce the risk of post-operative dislocation.”

Walter continued, “A compact, fully disposable product in-a-box, Navbit Sprint provides an excellent new offering, one which is extremely simple for the surgeon to use, affordable and easy for the hospital to deal with—and of course better for patients. The technology is currently under review with the FDA.”

Alan Miller, president Parvizi Surgical Innovation, spoke to OTW about the investment in Navbit. He said, “Parvizi Surgical Innovation continues in its mission to invest in companies and technologies with the potential to improve the lives of patients and their families. We are proud to partner with Navbit to improve patient outcomes during hip replacement surgery.”

Philadelphia-based Parvizi Surgical Innovation was founded in 2018 by Javad Parvizi, M.D. Its purpose is to “further advance healthcare for both the patient and provider with the collective knowledge of devoted clinicians, world-class surgeons, and scientists.” Dr. Parvizi is James Edward Professor of orthopedic surgery at the Rothman Orthopaedic Institute at Thomas Jefferson University in Philadelphia, where he serves as the director and vice chairman of research.