Accelus, a medical technology company focused on accelerating the adoption of minimally invasive surgery as the standard of care for the spine, closed a $12 million Series D equity financing. The round was led by Concord Innovation Fund II.
The company, based in Palm Beach Gardens, plans to deploy the funding to drive further adoption and commercialization within the U.S. for its product portfolio of spinal implant solutions, and specifically for robotic-enabled, minimally invasive techniques, in both hospitals and ambulatory surgery centers.
Founded in 2021 through the merger of Integrity Implants and Fusion Robotics, Accelus is a medical technology company focused on advancing spinal surgery treatment options by developing and commercializing technologies such as a proprietary surgical robotic targeting and navigation platform and implant systems. Accelus’ technologies address the clinical challenges associated with spine surgery, with a focus on minimally invasive surgery techniques and solutions.
Accelus’ flagship product is the FlareHawk Interbody Fusion System, which features proprietary multidirectional expansion technology designed for minimal disruption to the patient’s anatomy during insertion. More recently, Accelus launched the Robotic-Enabled Minimally Invasive (Remi) platform for robotic targeting and navigation.
Accelus reported strong growth for 2021 with $27.5 million in revenue, a 63% increase from 2020, CEO Chris Walsh said, and the funding will help the team “execute on our goal of accelerating the move to minimally invasive spine surgery.”
Joseph Swedish, CHP Co-Founder and Partner, has been named to Accelus’s Board of Directors. With more than 45 years of healthcare leadership experience, Swedish was Chairman, President and CEO for Anthem; President and CEO for Trinity Health; President and CEO for Centura Health; and a Division President for Hospital Corporation of America (HCA).
“The use of MIS techniques in spinal fusion procedures remains underpenetrated and significant limitations exist for current spine surgery robotic systems. With a growing focus on shifting the standard of care to MIS, we believe Accelus offers key enabling technologies to address unmet clinical needs and are confident they are well-positioned to become a leading innovator in the spinal health market,” Swedish said in a statement.
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