Think Surgical Secures $134 Million Funding to Advance TSolution One Robotic Orthopedic Surgery Platform

VCBeat (WeChat Official Account: vcbeat) has learned that U.S. medical device manufacturer Think Surgical recently announced the completion of a $134 million financing round to further enhance its TSolution One robotic-assisted orthopedic surgical system.

Think Surgical is headquartered in Fremont, California. Its TSolution One system is specifically designed for knee and hip replacement surgeries and has been approved for total hip arthroplasty in the United States and Europe. In December 2017, Think Surgical’s total knee arthroplasty procedure received CE Mark certification in Europe. The company is currently conducting an Investigational Device Exemption (IDE) study and anticipates obtaining FDA approval.

In a filing submitted to regulators yesterday, Think Surgical stated that this round of financing was primarily conducted through the issuance of bonds, options, warrants, and other securities. The document revealed the participation of six unnamed investors, with the total amount raised reaching $134.2 million.

The TSolution One system is designed to assist surgeons in developing personalized preoperative joint replacement plans by leveraging CT-based 3D planning and an open implant library. According to Think Surgical, the robotic platform executes the surgical plan by removing diseased bone, preparing the bone cavity, and conditioning the joint surfaces.

“One thing I’ve always liked about this system is that it’s an active robotic system,” said Robert Jamieson, an orthopedic surgeon at Osteopathic Medicine in Sacramento, California. “Other surgical assistance systems are passive; they serve as assistants to guide surgeons during procedures. In contrast, TSolution One independently executes the preoperative plan under the surgeon’s supervision.”

Although not on the same scale as some recently announced deals, this financing round clearly sends a strong signal for robotic medical companies. In February 2019, Ethicon, a subsidiary of Johnson & Johnson, acquired Auris Health and its FDA-approved Monarch platform for $3.4 billion. This transaction became the largest private M&A deal in robotics and medical technology history. The Kiva Systems acquisition had previously been the largest robotics acquisition, when it was bought by Amazon for $775 million.

Intuitive Surgical raised $2 billion in February through share buybacks, while Surgerii Technology, Corindus Vascular Robotics, Myomo, ReWalk Robotics, and Vicarious Surgical also secured funding last month.

THINK Surgical, founded in 2007 and headquartered in San Francisco, is an organization dedicated to the development, manufacturing, and sale of robotic systems for orthopedic surgery. THINK Surgical is committed to developing robot-assisted systems that empower surgeons to perform procedures, ensuring that their surgical expertise is fully leveraged and that surgical plans are executed accurately as prescribed.

TSolution One is THINK Surgical’s proprietary surgical assistance system. Comprising the TPLAN three-dimensional preoperative planning workstation and the TCAT computer-assisted tool for hip and knee arthroplasty, the system delivers exceptional precision in total joint replacement procedures. TSolution One has received U.S. FDA clearance for orthopedic surgery of the hip, and its core technology has been successfully applied in thousands of total hip and knee arthroplasty cases worldwide.

(Compiled by Wang Shuijing)