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Financings Still Alive & Well in Orthopedics

Image courtesy of Mark Poprocki / Alamy Stock Photo orthopedics, ortho, definition as it appears in a dictionary
Carlsmed has raised $30 million in a series B round.

Carlsmed said it closed an oversubscribed $30M Series B funding round, led by B Capital Group, a global, multi-stage investment firm. Existing investors, U.S. Venture Partners, The Vertical Group, Cove Fund and Wavemaker Three-Sixty Health, also participated in the round.

The company plans to use the Series B funds to ramp commercialization of aprevo, Carlsmed’s FDA cleared personalized surgical devices.

“Traditionally, patients undergoing spinal surgery are at risk for postoperative complications and revision surgery. Our goal is for aprevo to be the last spinal surgery a patient will ever need,” said Mike Cordonnier, CEO of Carlsmed. “Unlike conventional implants that are mass-produced in-stock shapes and sizes, each aprevo  device is designed for a specific patient, with spinal alignment correction built into the device.”

Carlsmed also said that Robert Mittendorff, MD, MBA, has joined its board. Mittendorff is General Partner and Head of Healthcare at B Capital Group.

“We are pleased to support the Carlsmed team in the transformation of spine surgery, enabled with artificial intelligence, to produce patient and surgeon specific implants,” said Dr. Mittendorff. “The potential for the Carlsmed platform to improve both surgical workflow and patient outcomes is substantial, and the team leading this innovation is second to none.”


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