Franklin joint resurfacing company Arthrosurface Inc. announced today that for the first time, the 11-year-old company has surpassed $100 million in cumulative net revenue as of March 2012.
The company claims to be the only developer of anatomic inlay implants for early joint disease, which, according to the company’s website, fills in the surface of the bones of a joint to strengthen and smooth them so they work properly. The technology is less invasive than joint replacement, and is designed to be used early on in order to delay or prevent later joint replacement.
“We knew the idea of intervening sooner rather than later, when joint damage is limited, went against the conventional wisdom of traditional orthopaedics,” said President Steve Tallarida in a written statement. “In the world of total joints, treatment is typically delayed until significant joint destruction has occurred. We decided to take our cue from other disciplines, such as cardiology and dentistry, where stents and fillings are the first line choices for early intervention. Patients should have the option of considering an interim treatment in order to resume a normal lifestyle while hopefully delaying joint disease progression.”
In 2001, Arthrosurface spun out of STD Med Inc., a medical device manufacturing company owned by several of the founding shareholders of Arthrosurface. STD Med has spun out four companies since 2000, two of which, Angiolink and Spirus Medical, went on to be acquired by Medtronic and Olympus, respectively. In 2003, Arthrosurface entered into an agreement with venture capital company Boston Millennia Partners to provide funding and expertise.
Last November, the company announced that it achieved 30,000 patient implantations in shoulder, knee, hip, toe and ankle during the previous seven years. Its technology is available in more than 25 countries.
In 2007, the company received the first million of a $5 million round of Series F capital, and planned to add another 15 workers to join its direct sales force of 10 people.