DURHAM, N.C.--(BUSINESS WIRE)--restor3d, the leader in 3D printed, personalized orthopedic implants, announced today the successful closing of a $55 million Series A funding round led by private investors including Summers Value Partners and existing investors plus an additional $15 million in debt financing led by Trinity Capital. This significant investment will accelerate the company's growth and innovation in several key areas:
Release of New Patient-Specific 3D Printed Implant Systems
Consistent with our mission to deliver novel personalized medical solutions, restor3d will introduce new patient-specific implant systems for total ankle and shoulder replacements. These innovative systems will offer 3D printed solutions that fit the unique anatomy and pathology of individual patients. In the patient specific hip and knee portfolios we will continue to make product advancements including a porous press fit knee enabled by 3D printing of both the tibial and femoral components.
Investments in Advanced 3D Printing Technologies:
Continued investments in novel 3D printing technologies will expand restor3d's rapid in-house 'powder to sterile product' production environment, providing the capacity to grow the business for many years to come. In addition to providing capacity, these investments will also shorten personalized implant delivery times while simultaneously reducing production costs.
Investments in Software and AI-based Automation:
To decrease lead times and support continued high growth, restor3d will continue investments in cutting-edge software and design automation solutions. These advancements will speed our case intake and design processes, reduce digital design times, and improve service levels to our surgeons and their patients.
Expanded Medical Education Programs:
restor3d is committed to advancing medical education and training. The new funding will enable the expansion of our educational initiatives, providing surgeons and our sales team with comprehensive training on the latest technologies and surgical techniques in orthopedic and reconstructive surgery.
"This fundraising round is a testament to the confidence our investors have in restor3d's vision and potential," said CEO Kurt Jacobus. "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 of orthopedic care. We are grateful for the support from our investors and look forward to a future of continued growth and success."
For more information about restor3d and its innovative solutions, please visit www.restor3d.com.
About restor3d, Inc.
restor3d is a world leader in 3D printed patient specific musculoskeletal implants and driven by the belief that every patient deserves personalized care. The company holds proprietary expertise and intellectual property in 3D printing of osseointegrative materials, AI-based planning and design automation tools, and digital health solutions to provide seamless data-backed care to optimize individual patient outcomes. Alongside its customers, restor3d is reimagining the musculoskeletal reconstruction landscape. More information is available at www.restor3d.com.
Forward Looking Statements
Certain statements made in this release that are not statements of historical or current facts are forward-looking statements which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward-looking statements can be identified by terms such as "future," "believes," "expects," "may," "will," "should," "potential," "estimates," "intends," "anticipates" or "plans" or the negative of these terms or other comparable terminology. Forward-looking statements are based upon management's beliefs, assumptions and current expectations but are subject to known and unknown risks and uncertainties including, without limitation, distribution challenges, market trends and demand, product efficacy and safety concerns, product or raw material availability and other supply constraints. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as a guarantee of future performance or results. The forward-looking statements included are made only as the date of this release. The company assumes no obligation to update any information or forward-looking statement contained herein, save for any information required to be disclosed by law.
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