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THINK Surgical received an investment of $100 million to support a faster commercial launch of several new products. This infusion will allow THINK Surgical to bring new products to market which will offer a common planning solution across multiple robotic platforms, especially orthopedic, along with a choice of implants from different manufacturers.
THINK Surgical seeks to advance robotic systems for joint replacement surgery that feature an open implant library. This approach offers an alternative to closed systems which are limited to a single manufacturer’s implants.
The transaction was led by KDB Investment Global Healthcare of Korea, a new investor.
“We are extremely excited to strengthen our financial position to support successful new product commercialization through this financing round,” said Stuart Simpson, President and CEO of THINK Surgical. “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.”
“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,” said DH Lee, CEO of KDB Investment. “THINK is well positioned to successfully launch their robotic technology with a differentiated business model that provides their customers with better value propositions.”
Source: THINK Surgical®, Inc.
