OrthoSpin, an Israeli medtech startup that develops robotic orthopedic tech for bone lengthening and the treating complex fractures and limb deformities, has been sold to Synthes GMBH for $79.5 million. OrthoSpin was part of the Trendlines Group which held a 26.9% stake in the company. Trendlines will get $15.8 million after expenses for what was an investment of $1.3 million.
Synthes is a unit of J&J orthopedics.
Israeli medtech startups are in high demand these days. illumigyn, an Israeli medtech, or femtech, startup that offers first remote gynecological imaging platform, has raised $33 million to date. illumigyn focuses on women’s health and making it “accessible and affordable for every woman worldwide.” illumigyn has the first FDA-cleared remote gynecological platform, the Gynescope.
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In September, Aviv Scientific, an Israeli medtech company that conducts research and clinical treatment of age-related cognitive and functional decline to maximize human performance, brought in $40 million in an oversubscribed Series B funding round. Aviv Scientific develops age-related cognitive and functional decline and novel applications of hyperbaric oxygen therapy (HBOT) to maximize human performance.
OrthoSpin’s automated, digitally-enabled strut system, the AutoStrut G2 System, offers a solution to the external circular fixation market used in bone lengthening, setting complex fractures, and correcting limb deformities. With this technology, circular frame strut adjustments are automated and can be broken down into smaller, more frequent intervals, eliminating the need for patients to perform complex manual strut adjustments.
The company’s concept was first brought to Trendlines by Liraz Shlomoff and Yoni Epstein, serial entrepreneurs in the medical device field. OrthoSpin received FDA clearance for its latest device in January 2021 and has completed initial clinical cases in the U.S. and Israel. Johnson & Johnson Innovation led two investment rounds. Trendlines was OrthoSpin’s founding investor and participated in additional financings for the Company. OrthoSpin also received support from the Israel Innovation Authority.
Trendlines announces acquisition of portfolio company OrthoSpin Ltd.
— Ortho Consulting Group (@OrthoCG) November 5, 2021
OrthoSpin CEO Oren Cohen said, “I am delighted to announce this news. I’m extremely proud of the team that succeeded in meeting critical and complex tasks during a worldwide pandemic and wish to thank all our partners who supported us throughout the journey. I look forward to continuing our journey with DePuy Synthes to bring a real revolution to the hexapod bone deformity market.”