Apr 10 2014
Deerfield Management Company announced today that it has entered into a financing agreement with OMNIlife science, Inc. to invest $27.5mm. The purpose of the funding is to strengthen the Company’s balance sheet, to finance the expansion of its total hip and knee replacement product line and to accelerate the commercialization of its proprietary Robotics and Navigation platform, called OMNInav™.
“Deerfield has been an active investor in robotic systems designed to aid in surgical procedures. OMNIlife science has developed a cost-effective computer navigation and robotic platform in orthopedics for improved outcomes of total joint replacement procedures,” stated Steve Hochberg, a Partner at Deerfield Management.
“Deerfield is committed to supporting innovative products and growth companies and has extensive experience with the computer navigation and robotics sector of healthcare, and we welcome them to the OMNI team,” said OMNI’s President and CEO, George Cipolletti. “Given the demographics of the baby boomer generation and the active lifestyle that baby boomer patients intend to maintain, we believe that offering alternative solutions incorporating robotic technology that improve surgical outcomes and reduce rehabilitation times will significantly benefit both patients and the healthcare system.”
About OMNIlife science, Inc.
OMNI is an established hip and knee implant replacement engineering, manufacturing and distribution company that has also developed a proprietary Robotics and Navigation platform, called OMNInav™, that uses proprietary computer-assisted robotic cutting guide technology, or “OMNIplasty™”.
About Deerfield Management Company
Deerfield is an investment management firm, committed to advancing healthcare through investment, information and philanthropy. For more information about Deerfield, please visit www.deerfield.com.
Source: http://www.deerfield.com/