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THINK Surgical, a developer of active robotics for knee replacement surgeries, announced that it brought in a $100 million investment from KDB Investment Global Healthcare of Korea, a new investor in the company.
The company plans to use the investment to bring new products to market that will offer a standard planning solution that will work across multiple robotic platforms and a choice of implants from different manufacturers.
Many current surgical robotic systems are closed systems that require surgeons to pick from a single manufacturer’s implants. THINK Surgical wants to make it possible for surgeons to pick implants from many manufacturers, so they can focus on which implant would be best for each individual patient.
“We are extremely excited to strengthen our financial position to support successful new product commercialization through this financing round,” Stuart Simpson, president and chief executive officer of THINK Surgical, said. “KDB Investment is a highly sophisticated and respected professional investment firm, and their investment will help us expand our brand and presence in the industry. We greatly appreciate their confidence in THINK Surgical as an investment opportunity.”
THINK Surgical current product offering, the TSolution One Total Knee Application, can fully automate bone preparation for knee surgeries. The system is made up of the TPLAN 3D Planning Workstation, a computer system for preoperative planning, and the TCAT Computer-Assisted Tool, a tool that takes TPLAN’s preoperative plan and prepares the bone cavity and joint surface.
When performing operations with TSolution, surgeons will use TPLAN to design a joint replacement procedure that works with the patient’s specific anatomy. Then, TCAT prepares the bone with sub-millimeter dimensional accuracy. This allows the surgeons to better and place and align the implant according to their plan.
KDB Investment is a private equity firm wholly owned by Korea Development Bank that focuses on promoting and advancing the interests of companies by providing financial support.
“We are very impressed with the technology portfolio that THINK Surgical has developed and is planning to commercialize. We very much look forward to several planned product launches over the coming years,” DH Lee, chief executive officer of KDB Investment, said. “THINK is well positioned to successfully launch their robotic technology with a differentiated business model that provides their customers with better value propositions, and KDB Investment has great confidence in the leadership of THINK, primarily in CEO Stuart Simpson, given Stuart’s deep experience in the orthopedic surgical robot business.”