Durham, North Carolina-based restor3d, purchaser last September of Conformis, Inc, has closed a $55 million Series A funding round.
See “Conformis Lives to Fight Another Day” for more information about restor3d’s purchase of Conformis.
Private investors, including Summers Value Partners, and existing investors led the funding round. Trinity Capital also led with an additional $15 million in debt financing.
restor3d specializes in 3D printed orthopedic implants, focusing on personalized medical solutions. This investment will enable the company to expand and innovate in a number of targeted areas.
restor3d will use the funding to continue to develop personalized medical solutions. Per the press release, this includes the introduction of “new patient-specific implant systems for total ankle and shoulder replacements.” The new systems will provide “3D printed solutions that fit the unique anatomy and pathology of individual patients.” Some of the funding will also be used to develop restor3d’s “porous press-fit knee enabled by 3D printing of both the tibial and femoral components.”
restor3d will also use some of the funds to grow its “rapid in-house ‘powder to sterile product’ production environment.” This investment will expand its capacity for growth as well as improve implant delivery time while also lowering production costs. The funding will additionally be used to fuel growth by going towards “cutting-edge software and design automation solutions.”
Some of the new funding will support the development of restor3d’s educational initiatives. This includes training for both surgeons and sales teams on advanced technologies and surgical techniques.
restor3d CEO Kurt Jacobus commented, “This fundraising round is a testament to the confidence our investors have in restor3d’s vision and potential.”
Jacobus continued, “With this capital, we can accelerate our efforts to transform orthopedic care through 3D printed personalized implants. We are eager to maximize our impact on patient outcomes and continue to advance orthopedic care. We are grateful for the support from our investors and look forward to a future of continued growth and success.”
