IntelliJoint raises $11m Series A for orthopedic navigation system

IntelliJoint Surgical said today it raised $11 million in a new round of Series A financing to support its intellijoint HIP miniature optical orthopedic surgical navigation tool.

The round was led by “private investors from the Waterloo-Toronto corridor” and closed in multiple tranches, the company said.

“The US launch of the next generation intellijoint HIP earlier this year is being extremely well received in the marketplace and is seeing significant growth. This Series A capital will allow Intellijoint to enhance its product offering with the direct anterior approach application and allow for expansion into new US markets while enabling deeper penetration of Intellijoint’s presence in New York and Illinois,” co-founder & CEO Armen Bakirtzian said in a press release.

The company’s flagship intellijoint hip device is designed to provide real-time intraoperative measurements for cup position, leg length, offset and hip center during total hip arthroplasty procedures.

The company touted that the device has been used in over 500 procedures and is cleared by the FDA and Health Canada.

“Intellijoint has addressed the shortcoming of traditional navigation. The miniature optical camera provides accurate measurements while compensating for patient movement, which is routine during a total hip replacement. It provides me with valuable information and I choose to use it in every case,” scientific medical advisory board member Dr. Wayne Paprosky said in a prepared release.

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