THINK Surgical Raises $100 Million to Accelerate Commercialization of Robotic Surgery Products
(FREMONT, CA) October 26, 2022 – THINK Surgical, a technology innovator developing orthopedic surgical robots today announced that KDB Investment Global Healthcare of Korea, a new investor, has invested $100M in the company to enable a faster commercial launch of several new products. This investment will allow THINK Surgical to bring new products to market which will offer a common planning solution across multiple robotic platforms along with a choice of implants from different manufacturers. This investment will enable THINK Surgical to achieve its full potential as a leader in the orthopedic surgical robot space with a differentiated business model.
THINK Surgical is committed to advancing robotic systems for joint replacement surgery that feature an open implant library. This approach offers customers a compelling alternative to closed systems which are limited to a single manufacturer’s implants.
The opportunity to use implants from multiple implant manufacturers in combination with THINK’s robotic technology, allows surgeons to access the benefits of robotic assisted surgery and choose the implant that is best for each individual patient.
“We are extremely excited to strengthen our financial position to support successful new product commercialization through this financing round.” said Stuart Simpson, president and chief executive officer of THINK Surgical. “KDB Investment is a highly sophisticated and respected professional investment firm, and their investment will help us expand our brand and presence in the industry. We greatly appreciate their confidence in THINK Surgical as an investment opportunity.”
“We are very impressed with the technology portfolio that THINK Surgical has developed and is planning to commercialize. We very much look forward to several planned product launches over the coming years.” said DH Lee, chief executive officer of KDB Investment. “THINK is well positioned to successfully launch their robotic technology with a differentiated business model that provides their customers with better value propositions, and KDB Investment has great confidence in the leadership of THINK, primarily in CEO Stuart Simpson, given Stuart’s deep experience in the orthopedic surgical robot business.”
KDB Investment is a private equity firm that is wholly owned by Korea Development Bank which focuses on promoting and advancing the interests of companies by providing financial and operational supports.