Company meeting with potential investors and strategics to finalize $10 million Series A funding round
DANA POINT, Calif., March 16, 2023 (GLOBE NEWSWIRE) — Caira Surgical, the pioneer in radar surgical tracking for navigated and robotic joint replacement surgery, announced today that Jon Greenwald, Chief Executive Officer, will present at the fourth annual Life Science Intelligence (LSI) USA ’23 Emerging Medtech Summit on March 22, 2023, at 11:30 a.m. PT (Track 1) in Dana Point, California.
The presentation will highlight Caira’s mission to make advanced orthopedic technologies more accessible to surgeons, patients, ambulatory surgery centers (ASCs) and hospitals worldwide by eliminating the adoption barriers inherent in existing technology with the goal of disrupting the $13 billion joint replacement market with Caira’s superior, proprietary technology. The company will also introduce investors and strategics to its first product – the Caira Radar Navigation System for Total Knee Replacement (TKR). TKR is the largest joint replacement segment by procedural volume, as well as the segment with the highest rate of patient dissatisfaction and the highest revision burden.
The Caira TKA Radar Navigation System is the first sub-millimeter accurate radar tracking system for orthopedic surgery and offers significant improvements over the high-cost, large-footprint and invasive surgical hardware offered by incumbent surgical navigation and robotic systems. Using advanced radar surgical tracking and fast landmark registration, the Caira system seamlessly integrates into surgeons’ workflow, improving accuracy, efficiency and repeatability while simultaneously decreasing cost, complexity and many of the risks associated with legacy technologies.
“Orthopedic surgeons need advanced technologies that are aligned with the cost, efficiency and patient outcome needs of the rapidly growing global joint replacement market,” said Caira Co-Founder Morteza Meftah, M.D., Associate Professor of Orthopaedic Surgery at NYU Langone Medical Center and President of the International Society for Technology in Arthroplasty. “I believe the Caira TKA Radar Navigation System will completely change the paradigm of navigation and robotics in arthroplasty – providing a better option for surgeons, hospitals, and ASCs worldwide while also improving patient outcomes.”
By providing a minimally invasive and cost-efficient solution, Caira Surgical’s technology is a meaningful improvement to help overcome the obstacles that have prevented the broad market adoption of incumbent robotic and navigation systems. Currently, these advanced technologies are only used in less than 20% of TKA procedures due to their inherent disadvantages including the expensive capital equipment and per-surgery disposables, complex workflows and increased procedure times, additional incisions and invasive surgical hardware that can increase post-operative pain and complications.
“The Caira TKA Radar Navigation System addresses each of these shortcomings to truly revolutionize orthopedic surgery,” said Caira Surgical Chief Executive Officer Jon Greenwald. “It was developed to address the frustrations we’ve been hearing from surgeons, hospitals and ASCs since surgical navigation and robotic technologies were first introduced in the 1990s, including workflow, complexity, invasiveness and cost.”
Caira Surgical is currently raising a $10 million Series A Funding Round. Series A funding will be used to drive continued product development and R&D and support a limited commercial release of the Caira TKA Radar Navigation System in 2024. Those attending the Emerging Medtech Summit who are interested in scheduling a one-on-one meeting with Caira Surgical senior leadership can do so by emailing ir@cairasurgical.com.
LSI USA ’23 is the industry-leading medtech investment and partnering event featuring more than 250 innovators presenting to more than 1,000 top investors and strategics. The event will take place March 20 – 23, 2023 at the Waldorf Astoria Monarch Beach Resort & Club in Dana Point, Calif. Caira Surgical will present as part of Track 1 on Wednesday, March 22 from 11:30 – 11:39 a.m. PT. For more information, visit https://www.lifesciencemarketresearch.com/medtech-summit-2023.
About Caira Surgical
Caira is revolutionizing the usability, economics, safety, and accessibility of advanced surgical navigation and robotics for orthopedic surgery. The company’s first product is a navigation system for total knee replacement. Employing Caira’s advanced, proprietary sub-millimeter accurate Radar Surgical Tracking technology, Caira Surgical Navigation eliminates line-of-sight interference, invasive surgical instruments, and multiple incisions inherent in existing surgical tracking systems. Caira’s technology enables a simple workflow and significantly reduces the cost and complexity of utilizing advanced technology in joint replacement surgery. The company focuses on building technology that overcomes adoption barriers to make advanced technology more accessible to surgeons, patients, hospitals, and ambulatory surgery centers (ASCs) worldwide. For more information, please visit cairasurgical.com.
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