FloSpine

Industry

Healthcare

Company Type

Medical devices

Location

US

Size

$7 million

Investment Type

Equity

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Helping Great Companies Grow

Overview

FloSpine, a leading medical device company, is seeking $7 million for expansion and additional product development.


Over 1,000 surgeries with over 12,000 implants used since launch in April 2015


New technology and design concepts to solve medical problems of the spinal column


Generated ~$7 million of cumulative revenue in the past five years


Provides proprietary, innovative, high-margin and cost-effective medical device spinal implants with eight US patents and FDA 510(k) clearance


Spinal implants are surgical devices used to facilitate fusion, treat deformity, and strengthen and stabilize the spine


Offers and is developing new spinal fusion implants and instrumentation

Helping Great Companies Grow

Opportunity

Over 80% of the global population suffers from lower back pain at some point in their lives


Global spinal implants and surgical devices market expected to generate $17.47 billion revenue by 2024


US is the biggest market for spinal implants, estimated $7.0 billion in 2016 and is expected to reach $12.2 billion by 2024

12-14% of US adults visit their physician with back pain complaints


Minimally invasive surgery is the fastest growing segment


Lumbar/low back pain and cervical/neck pain are among the most common medical conditions requiring medical care and affecting an individual’s ability to work and manage daily life activities

Helping Great Companies Grow

Challenge – Treating Spinal Stenosis

Spinal stenosis is a narrowing of the spaces within the spine, which can put pressure on the nerves that travel through the spine


250-500,000 US residents have symptoms of spinal stenosis


This represents about 1 per 1,000 people older than 65 years and about 5 per 1,000 people older than 50


About 70 million Americans are older than 50 – estimated to grow by 18 million in the next decade


The prevalence of spinal stenosis is expected to increase


Lumbar spinal stenosis (LSS) remains the leading preoperative diagnosis for adults older than 65 years who undergo spine surgery

Solution

FloSpine is developing KeyLiftTM , a unique expandable intra-lamina implant designed to treat spinal stenosis.


The KeyLiftTM implant is superior to both Coflex and Vertiflex due to its in-situ expandable capability, and may be inserted in L5-S1


Vertiflex (recently acquired for $465 million by Boston Scientific) implant may become dislodged, as it is not securely fixed to the spine

Helping Great Companies Grow

The Canaveral® Pedicle Screw System can be bundled into 3 separate products that are commercially available to treat the following conditions:

Use Case : Degenerative Disc Disease


Degenerative Disc Disease in the lumbar spine is the largest market segment for spine surgery.


Growing geriatric population base and rising incidence of orthopedic diseases


Typical procedure is a 1 or 2 level fusion


Helping Great Companies Grow

Management

Peter Harris, President/CEO

Worked for Interpore Cross (Zimmer-Biomet), K2M (Stryker), US Spine and Amedica at executive level


Startup experience – US Spine, K2M – (Now Stryker)


Over 21 patents in spine and launched many successful products


Executive board level experience


BS in Mechanical Engineering


James Spitler, V P Engineering

 

20 years of orthopedic experience – Spine, Total knee, shoulder, hip


Worked for Sulzer Medical, Arthrex, Medtronic,  C.R. Bard, IMDS and IST


Startup experience – IST with Texas Back Institute


Over 14 patents in spine – launched many successful products


BS in Mechanical Engineering


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CONTACT US

Hi. We're not around right now. But you can send us an email and we'll get back to you, asap.

Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784
kmargolis@castleplacement.com

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