Knee-surgery devices maker raises $50m

A Burlington medical device company, ConforMIS Inc., is set to disclose today that it has raised $50 million from a consortium of private equity firms and sovereign wealth funds, one of the largest investments in a Massachusetts life sciences company this year.

The company will use the money to expand its product line in the growing field of knee resurfacing, a potential $6 billion market, said Philipp Lang, ConforMIS’s chief executive. The company, founded in 2004, will also build up its sales force in the United States and Europe.

ConforMIS, with about 100 employees worldwide, including more than 60 at its Burlington headquarters, takes its name from products that conform to patients’ knees and require minimally invasive surgery. It has introduced three implants used in partial knee replacements and plans to seek approval next year for a total knee replacement product.

Unlike standard off-the-shelf implants, which require cutting into bone to make them fit, ConforMIS’s products are custom implants, packaged with custom instruments to place them in patients.

Josh Sandberg

Josh Sandberg is the President of Ortho Spine Partners and Partner for The De Angelis Group. He also serves as Co-Founder and Editor of OrthoSpineNews.

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