Micro C, a medical device startup that manufactures a handheld X-ray and digital camera imaging device for orthopedic surgeons, raised an additional $1 million in funding, bringing their total seed amount to $2.2 million. The funds were raised largely from individual physicians, Hypepotamus reports.
Here are five things to know.
1. According to Murem Sharpe, Micro C's chief marketing officer, the company's major objectives in 2018 are securing FDA compliance and launching their manufacturing supply chain for a commercial launch in October.
2. Orthopedic hand surgeon Gregory Kolovich, MD, partnered with Evan Ruff to create the company.
3. The Micro C system is designed to decrease a patient's time in surgery and be more cost-effective than standard imaging solutions. The system contains an image receptor and software enabling HIPAA-compliant image and data capture; it is designed to integrate directly with the patient's electronic medical records.
4. Micro C showcased the device at the 2018 Annual Meeting of the American Academy of Orthopaedic Surgeons in New Orleans. The company aims to expand internationally. In November 2017, Micro C appointed a new international medicine chief, Dr. Youssra Marjoua, to lead their expansion into markets outside the U.S.
5. The device is well-suited for public health workers in rural areas, where access to a traditional imaging device may not be possible in an emergency. According to Micro C, the global orthopedics devices market will grow from about $40 billion in 2016 to more than $60 billion by 2023, with Latin America and Asia Pacific representing the fastest growing markets.
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