Trice Medical develops a portable, tablet-based imaging platform that combines a disposable needle camera (mi-eye™) with a high-quality ultrasound transducer (mi-ultra™) for orthopedic procedures. The company’s products are intended to enable procedures outside of traditional imaging suites. Since 2019, Trice has acquired Seg-WAY™ Orthopedics and Tenex Health, expanding its capabilities in minimally invasive ultrasonic technology for chronic pain treatment. The company is led by CEO and President Mark Foster. Trice announced a Series D financing whose amount was not disclosed and entered a strategic arrangement with Bioventus as part of the transaction. As described in the articles, Trice and Bioventus will pursue co-development to explore integration of their technologies to accelerate adoption of both companies’ offerings. Trice Medical, based in Malvern, Pa., makes integrated, camera-enabled and ultrasound platforms for minimally invasive orthopedic diagnostics, including the mi-eye 2 disposable arthroscopy camera and the mi-ultra 15 MHz handheld ultrasound transducer. The company’s Dynamic Imaging Platform combines the mi-eye technology with the mi-ultra on a single portable platform. Trice says its mission is to provide more immediate and definite patient care, reduce false reads from indirect modalities, and significantly lower healthcare costs. The company plans to expand worldwide commercialization of mi-eye 2 and mi-ultra and to accelerate development of its minimally invasive product portfolio. Management described 2019 as a transformational year, with plans to expand sales globally, launch several new products and announce large multinational partnerships. Trice Medical, based in King of Prussia, Pa., has developed the mi-eye2, a fully integrated camera-enabled handheld diagnostic scope that lets physicians diagnose joint injuries from the office. The mi-eye2 uses a disposable needle embedded with a wide-angle camera lens and improved vision quality to provide a non-invasive, more complete diagnosis. The device is currently being used by nearly 100 physician practices across 25 states. The company intends to use recent funding to accelerate and expand U.S. market penetration, support R&D, and grow sales and marketing. Trice Medical also plans to pursue key international regulatory approvals. Jeffrey O’Donnell, Sr. serves as President and CEO. The company has raised $40.9M to date. Trice Medical develops micro-invasive diagnostic tools for in-office procedures. Its core product, the mi-eye, is a fully disposable, single-use visualization device that uses a standard 14-gauge needle with an integrated camera and light to perform diagnostic arthroscopy during the initial consultation. An LCD tablet running Android OS attaches via a data cable to display images from the mi-eye needle. The company closed an $18.1M Series B financing led by HealthQuest Capital. Following the round, Trice appointed Craig Carra as its newly created Chief Financial Officer. Carra is a medical device and services veteran with roughly 20 years of experience and prior roles at Coopers & Lybrand, Surgical Laser Technologies, PhotoMedex and Ella Health. Trice Medical's core product, mi-eye, is a fully disposable, single‑use visualization device that integrates a camera and light source into a standard 14‑gauge needle to perform diagnostic arthroscopy in the physician's office. The device connects via a data cable to a separate Android‑based LCD tablet and is delivered sterile and ready for immediate use. Trice positions mi-eye to provide faster, more definitive, and less expensive diagnoses by eliminating false reads from indirect modalities such as MRI. The company received FDA 510(k) clearance for mi-eye, which it described as a key regulatory milestone. Trice plans to apply for CE Mark in Europe and seek approvals in other countries, and intends a limited marketing launch beginning in Q4 2014 while building inventory and developing marketing and educational programs. Financially, the company received the balance of cash related to an $11.6M Series B financing led by Safeguard Scientifics.

Total raised

$67M

Funding rounds

5

Latest round

Series C

Latest activity

Jan 2019