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The global joint reconstruction market is $18.1B, yet four players account for 76% of the market. Monogram Chief Medical Officer Doug Unis believes the current standard of care relies on using crude, manual instruments to insert poor fitting and generic implants into the patient’s body. CEO Ben Sexson believes this is driven by the inefficiency of the generic implant model.
Over 960,000 knee procedures were performed in the United States in 2017, yet according to a 2017 study by the National Center for Biotechnology Information, up to 1 in 5 patients are unsatisfied post operation.
Monogram Orthopaedics wants to improve the current standard of orthopaedic care through high precision, patient specific implants with state-of-the-art robotics.
Robot adoption is still new and Monogram believes utilization will continue to grow. Monogram plans to commercialize clinically superior patient specific implants, inserted with a surgical robot. The company is led by a management team with years of experience commercializing medical technologies and has had strategic collaborations with orthopedic manufacturer EOS.
The campaign is successfully funded, raised over $4.39mm, and still accepting investments.