Neo Medical raises $68M to scale AI-enhanced spine surgery platform
- Orsco Lifesciences AG
- Sep 17, 2024
- 1 min read
Lausanne, Switzerland — Sept 17, 2024. Neo Medical closed a $68m Series B (incl. conversion of shareholder loans) led by Gyrus Capital to accelerate U.S. expansion, launch complementary products, and advance ADVISE™, its AI-driven augmented-reality intraoperative data platform within the Neo Universal™ ecosystem. Existing backers include Swisscom Ventures, Verve Ventures, 4FO, and Credit Suisse Entrepreneur Capital. (businesswire.com)
Since commercial launch in 2016, Neo’s technology has been used in ~36,000 patients; studies cited by the company report up to 3× lower implant failure, 50% lower infection risk, 29% shorter OR time, and fewer revisions. The platform targets the $7.6bn thoracolumbar fusion market.
Governance note: Ørn R. Stuge, MD, MBA Chairman of Neo Medical, brings extensive international medtech and board leadership experience to support the company’s global scaling. (Neo named him Chairman in a 2020 board announcement.) (Orsco Life Sciences, Neo Medical)
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