Proceeds will be used to increase patient access to metal-free OSSIOfiber® surgical implants, which provide a strong fixation solution while leaving nothing permanent behind
WOBURN, Mass.--(BUSINESS WIRE)--#biointegration--OSSIO, Inc., a fast-growing medical device company focused on evolving orthopedic surgery with bio-integrative fixation technology, recently closed on $27.6 million in equity funding to rapidly scale all aspects of its commercial efforts, including a new product pipeline, sales channel and medical education, as well as building out a flagship U.S. manufacturing site and surgeon training center in Florida.
OSSIOfiber implants provide strong fixation while leaving nothing permanent behind, which avoids the risk of common post-surgical complications and secondary procedures associated with metal and similar materials. After serving their fixation function, they fully integrate and are replaced with the patient’s natural bone.
Questa Capital, which focuses on investments in expansion-stage healthcare companies, led this latest round of financing with participation from existing investors: MVM Partners, OCV, Ortho-Vision and Courage Capital.
“This new investment in OSSIO strengthens our ability to build upon our proven claim as the most innovative and differentiated implant technology to enter the $16 billion orthopedic fixation market,” said OSSIO CEO Brian Verrier. “The additional funding will enable us to accelerate our commercial footprint and the adoption of OSSIOfiber implants in the United States and select international markets. Specifically, we are already expanding our OSSIO sales team to strengthen the support of our distribution partners and customers, as well as securing the needed manufacturing capacity for several years of future growth.”
Since the company’s first product launch in 2019, upwards of 50,000 OSSIOfiber implants have been used across a broad spectrum of orthopedic procedures.
“OSSIO fits squarely into our investment strategy,” said Ryan Drant, Founder and Managing Partner of Questa Capital. “The company is growing rapidly and has established OSSIOfiber implants as a differentiated and disruptive medical technology with clear patient benefits and passionate surgeon users. We are pleased to support OSSIO’s efforts to evolve the practice of orthopedic surgery.”
About Questa Capital
Questa Capital is a venture growth equity firm focusing on investments in expansion-stage healthcare companies. Questa seeks out disruptive, technology-enabled business models that help improve patient lives, streamline market inefficiencies, and provide better quality care. The firm partners with superior management teams to help build innovative market leaders in the healthcare technology, services and medical devices sectors. Questa is led by industry veterans in healthcare investment and operations who have invested in and advised more than 60 growth-stage companies. More information is available at www.questacapital.com.
About OSSIOfiber® implants
Based on Intelligent Bone Regeneration Technology, OSSIOfiber implants combine unparalleled mechanical strength and natural healing in a bio-integrative design. Their proprietary polymeric mineral fiber matrix propels rapid bone in-growth, regeneration and replacement—a new way for orthopedic surgeons to restore stability and mobility for their patients’ fractures while leaving nothing permanent behind.
All OSSIOfiber implants feature a revolutionary advance in material science stronger than cortical bone, providing the first credible alternative to metal, absorbable and allograft fixation devices. With the potential to address an increasingly wide array of surgical applications due to the ease of manufacturing limitless variations, they are engineered to provide the strength required for functional fixation while allowing for full integration into patients’ native anatomy without adverse biological response.
Notably for U.S. healthcare providers and payors, OSSIOfiber implants utilize existing reimbursement codes and surgical techniques. Their uptake continues to grow because of strong patient and surgeon preference to avoid the concerns and complications of metal fixation implants. Looking ahead, OSSIO intends to continue developing additional applications for OSSIOfiber implants in all major segments of orthopedics.
About OSSIO
OSSIO is an orthopedic fixation company committed to transforming the surgical experience for patients, physicians, providers, and payors. Founded in 2014, the company’s vision is to provide the first credible replacement for metal implants in the multibillion-dollar global orthopedic fixation market with OSSIOfiber Intelligent Bone Regeneration Technology.
For more information on OSSIOfiber implants and OSSIO, which has development headquarters in Caesarea, Israel, and commercial headquarters in Woburn, Mass., visit www.ossio.io.
DISCLAIMER
Forward-looking statements contained herein are based on estimates and assumptions of OSSIO management and are believed to be reasonable, though they are inherently uncertain and difficult to predict.
Contacts
Joe McGrath
Scope Strategic Communications
contactmcgrath@gmail.com
+1-612-819-6421
