Think Surgical has raised a funding round worth $134 million for its robot-assisted orthopedic surgery device. Based in Fremont, Calif., Think Surgical’s TSolution One is designed for knee and hip arthroplasties.
The TSolution One is approved in the U.S. and Europe for total hip procedures; in December 2017 the company won CE Mark approval for a total knee indication and is running a U.S. investigation device exemption study seeking an FDA nod.
In a regulatory filing, Think Surgical said an offering of debt, options, warrants and other securities brought in $134.2 million of its $140 million goal. Six unnamed investors participated, according to the filing.
The TSolution One system is designed to aid in creating personalized pre-surgical joint replacement plans using CT-based 3D planning and open implant library. The robotic platform then executes the surgical plan by removing diseased bone and preparing the bone cavity and joint surface, according to Think Surgical.
Here is a video of the TSolution One System in action. Viewer discretion is advised.
“One of the things that I’ve always liked about the system is that it’s an active robotic system,” said Robert Jamieson, a doctor of Osteopathic Medicine (D.O.) in Sacramento, Calif. “Other systems are passive in that they guide the surgeon in performing the surgery. The TSolution One will perform your preoperative plan on its own, under your guidance.”
While this isn’t on the same level as some of the recent announcements, this is another strong showing funding-wise for a healthcare robotics company. In February 2019, Johnson & Johnson subsidiary Ethicon acquired Auris Health and its FDA-cleared Monarch platform $3.4 billion. This deal became the largest robotics and medtech private M&A deal ever. Kiva Systems previously held the title for largest robotics acquisition when it was purchased by Amazon for $775 million.
Intuitive Surgical raised $2 billion via stock repurchases in February, while Beijing Surgerii Technology, Corindus Vascular Robotics, Myomo, ReWalk Robotics and Vicarious Surgical also raised funding last month.