OrthoHelix designs and prototypes orthopedic implants and instruments in Medina, Ohio, and uses vendors across Ohio and the U.S. to manufacture, distribute and sell products. Its product family began with the MaxLock Plate and Screw System in 2005 and now includes MaxLock Extreme (also for clavicle, hand and wrist), the MaxTorque Cannulated Screw System (including a mini), and the CalcLock Calcaneal Trauma System. The company loans implant sets to hospitals and operates a dedicated cleaning and shipping facility for loaner services; implant sets are furnished to hospitals while hospitals purchase implants as they are used. OrthoHelix has expanded its Medina facility to about 15,000 square feet, added a prototype shop with high-speed machinery and a cadaver laboratory. Management says the business is EBITDA positive, sales have grown, and employees are approaching 50. The company notes an upcoming OrthoLock Tribrid Locking Screw Technology that it will discuss further after FDA marketing approval. OrthoHelix Surgical Designs develops plates, screws, washers and surgical instruments for hand, wrist, foot and ankle reconstructive surgery, including its FDA-approved Modular Foot System. The company has expanded its product set to cover more bones in the body and offers nearly 100 plates, screws and instruments. It raised $2 million to increase advertising, build inventory and expand sales beyond 25 states, with expectations to be selling in about 40 states by year-end. Investors have an option to invest an additional $3 million by Oct. 1, which the CEO expects to receive. Mutual Capital Partners and River Cities Capital Fund, which led the prior fund-raise, accounted for most of the latest investment; previous investors include Synogen. Since 2005 the company has raised at least $24 million.

Total raised

$7M

Funding rounds

2

Latest round

Series C

Latest activity

Apr 2010