8. Think Surgical: $105.4 million (Orthopedic)
Think Surgical’s TSolution One Total Knee System [Image courtesy of Think Surgical]
The TPLAN workstation has an open library of knee implants and surgical plans from different manufacturers, so surgeons can consider a patient’s options and pick the best one. The system is compatible with knee implant systems from Aesculap, Corin, DJO, Ortho Development, Total Joint Orthopedics, United Orthopedic and Zimmer.
Led by CEO Stuart Simpson, Fremont, California-based Think Surgical added to its executive team in 2022. It hired 17-year Stryker veteran Chris Fronk as VP of U.S. sales and then promoted him to chief commercial officer. Fronk would later hire another Stryker vet, Nick Margree, as VP of marketing. Think Surgical also hired Parikshit “Park” Mehendale as VP of operations, following roles at Conformis, Stryker, Zimmer-Biomet, and United Technologies.
In February 2023, Think Surgical hired Axiom Orthopaedics and Enhatch founder Peter Verrillo as chief technology officer.
Think Surgical raised $100 million from KDB Investment Global Healthcare of Korea and $5 million from David Dvorak. Dvorak was president and CEO of Zimmer Biomet for 10 years until his 2017 resignation. He became Think Surgical’s executive chairman in 2021.
Think Surgical said the funding raised in 2022 will accelerate the commercial launch of several products. Near the end of the year, the company announced a partnership with U.K.-based digital health company Definition Health to develop web-based software for planning joint replacements.
The partnership “will enable a consistent customer experience across of all our products and provide added value options for our customers [and] significantly improve surgeon and patient experience with our robotic technology,” Simpson said at the time.
