So, in robotic fashion, we give extreme precision control to surgeons, even if they are moving their hands.” The cutting tool essentially disengages to prevent mistakes from happening. So, even if the trigger is pressed, our device recognizes when it is about to get too deep, and it automatically cuts off. “As the surgeon is cutting,” says Mitra, “there is a virtual depth where you don’t want to cut any further. With locations in the medical devices hub of Memphis, Dallas and Andover, Massachusetts, Smith + Nephew leans on Pittsburgh as lead location for development of its CORI Surgical System, a hand-held device used by orthopedic surgeons. With precision accuracy, we can help patients to enjoy ‘life unlimited’ in all its ways and forms.” “Ultimately, what we aim to do as a business is to restore people’s bodies and their minds with some really differentiated products when it comes to the replacements or repair of joints. Riddhit Mitra, Smith + Nephew’s global product director of robotics and surgical technologies, tells Site Selection that the company specializes in technologies for hip and knee replacements, joint replacement trauma and surgical technologies. Its robotics and R&D operation is to accommodate demand for the company’s CORI Surgical system, a robotics platform that supports orthopedic surgery. U.K.-based Smith + Nephew recently moved into expanded space in Pittsburgh. “EDDA Technology’s solution integrates intelligent medical imaging analytics with robots for precision surgery, and overcomes the problems of lack of intelligent planning and limited image guidance in traditional robot-assisted surgeries.” “Modern surgery has entered a new precision era,” says EDDA Technology CEO and president Jianzhong Qian. The company is also behind the IQQA Guide, a surgical navigation medical device for soft tissue organization. and China that integrates artificial intelligence and robotics with precision surgery. Softbank’s Vision Fund 2 also led a $150 million funding round for EDDA Technology, a consortium of health tech firms based in the U.S. m.) and house up to 200 employees in production, quality control, manufacturing engineering, supply, operations and logistics.
#S and s precision series
Riddhit Mitra, Global Product Director, Smith + NephewĬMR Surgical, a global surgical robotics business, completed what’s believed to be the world’s largest-ever medtech private financing round in June, a $600 million Series D haul led by Masayoshi Son’s SoftBank Vision Fund 2 and Ally Bridge Group.įour months later, the Cambridge, England–based company announced plans to open a new, large-scale manufacturing facility in Cambridgeshire to meet increasing global demand for its Versius Surgical Robot System. "We have a tremendous pool of really great engineers from Carnegie Mellon and the University of Pittsburgh.” What’s driving the surge? The report identifies “large, later-stage financings,” with seven companies having raised more than $100 million in the first half of 2021, and 14 companies closing on financings between $50 million and $99 million. “The rise in investments is equally robust,” the report asserts, with 247 medical device companies in the U.S and Europe having raised rounds in the first half of 2021, “putting it on track to smash past tallies in 2020 (300 deals), 2019 (277 deals) and 2018 (263 deals).” and European medical device startups raised $4.6 billion in the first half of this year, putting 2021 on pace to eclipse total dollars raised in 2020 ($5.2 billion raised) and 2019 ($4.8 billion raised).” While North American companies continue to dominate, the report notes that European startups accounted for 34% of the dollars raised by medical device companies, up from 11% in 2020. “Looking at dollars raised,” says the report, “U.S. Capital commitments within the sector, according to a report issued in late July by Silicon Valley Bank, are way up. Despite the slowdown in elective medical procedures prompted by the COVID-19 pandemic, 2021 has been a banner year for medical device manufacturers.