AUSTIN, TX, Ortho Kinematics a healthcare diagnostics company, raised $18.6 million in Series D funding from undisclosed investors.
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Ortho Kinematics Inc. (OKI), a privately held healthcare diagnostics company focused on spine imaging informatics, announced today the close of a $18.6 million Series D equity financing to expand commercialization of the VMA (Vertebral Motion Analysis) technology, the company's flagship product for the radiographic assessment of spinal instability and alignment.
Terms of the financing were not disclosed. These new funds will support the continued commercialization of the VMA as well as further development of the technology. After a successful commercial launch of the VMA technology in 2015 and the development of the VMA-Align module in 2016 to assess sagittal alignment, the Company is currently ramping up efforts to support a broader commercial launch. OKI will be expanding sales and marketing efforts as well as manufacturing and R&D activities.
Jerry DeVries, a healthcare investor involved in launching several successful spine companies, states, "Austin has become a well-respected area for spine companies with cutting edge technologies to address new opportunities. This industry is a very attractive and growing space. Diagnostics improvements are necessary to address fundamental challenges for spine clinicians to more accurately identify and make treatment decisions. Most importantly, patients will benefit from a large scale commercialization of Ortho Kinematics' spinal diagnostic test."
Paul Gunnoe, CEO of OKI, adds, "This current round of financing is a strong vote of confidence that will provide OKI the ability to begin meeting the VMA demand seen from patients and caregivers. In the area of spine diagnostics, functional diagnostic testing is long overdue. OKI is the commercial leader in spinal diagnostics and we are humbled by the support we have received."
About Ortho Kinematics
Ortho Kinematics is a privately held diagnostic technology company, focused on spine imaging informatics and committed to the idea that spine motion matters. The company is working with a group of leading clinicians, researchers, and developers who are passionate about leveraging spine biomechanical data to improve the diagnosis and treatment of back pain. Ortho Kinematics is located in Austin, Texas and at www.orthokinematics.com.