Company Type

Medical devices




$7 million

Investment Type


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Helping Great Companies Grow


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


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


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


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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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


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