Atlas Spine has announced a plan to raise US$5m through OfferBoard Securities to further its existing business and monetise, through a licensing and royalty model, its patented portfolio of spinal implant product systems.
Approximately 85% of inhabitants in the Western world experience chronic back pain during their lifetime, with 8–10 million people permanently disabled from spinal-related issues. As the population ages and technologies improve, the minimally invasive surgery and fusion markets continue to experience substantial growth.
Published studies in the International Society for the Advancement of Spine Surgery and the Society for Minimally Invasive Spine Surgery’s International Journal of Spine Surgery have demonstrated that when several discs are involved, spinal fusion has been proven to be highly effective. Atlas Spine’s seven patented products and twenty-eight patents in development seek to assuage several back ailments, boosting patient outcomes and reducing recovery times simultaneously.
Atlas Spine has engaged OfferBoard Securities to facilitate a capital raise in order to complete their Series B preferred round.
Spinal fusion surgeries are the fastest growing sector in the orthopaedic market. A June 2013 report indicated that the US minimally invasive surgery implant market is expected to exceed US$3bn by 2019. Doug Watson, Atlas Spine chief executive officer stated, “With the recent multiples of deals being executed in our space we felt this is the right time to capitalise in the marketplace”.