Donate to Science & Enterprise

S&E on Mastodon

S&E on LinkedIn

S&E on Flipboard

Please share Science & Enterprise

Knee Replacement Maker Lands $89M Series E Financing

Physical therapist (


ConforMIS Inc. in Burlington, Massachusetts, a developer of customized knee-replacement implant technology, has raised $89 million in a series E round of funding, the fifth investment cycle after start up. The privately held company says the investments were made by private equity funds, led by AGC Equity Partners and Axel Johnson Inc., along with government investment funds from Asia and United Arab Emirates.

The funds from this round, says ConforMIS will be used for sales and marketing expansion, R&D investment in new product lines, and expanding its manufacturing capabilities. Company CEO Philipp Lang says the investment “also provides us with the resources to pursue strategic initiatives in technology and intellectual property expansion.”

ConforMIS has developed a technology for customizing knee implants for the treatment of osteoarthritis, a condition that results from the wear and tear on the cartilage protecting the knee joint. When cartilage breaks down and wears away, the bones rub together, which causes pain, swelling, and stiffness. Particularly severe cases may require replacing the damaged joint with an artificial replacement.

The company’s technology custom-designs knee-replacement implants for these cases. The technology uses standard CT scans of the damaged knee to build a 3D model for building the replacement joint to fit the patient. That technology also includes cutting and placement guides to determine the exact placement of the new joint, also based on the CT scans.

In late 2010, ConforMIS received FDA pre-market notification — known as 510(K) — to market the its total knee-replacement system in the U.S. The company has also received a CE designation to market the system in the European Union.

Read more: Health Care Systems to Share Practices on Quality, Costs

*     *     *

Comments are closed.