NORTH BILLERICA, Mass., Sept. 15 /PRNewswire/ — HydroCision
Inc. (www.hydrocision.com), a
privately held medical device company, announced today the purchase
of the majority of the Company by new investors, led by venture
capital firms Volcano Capital, Bioventures, and Omega Funds.
HydroCision is the developer, manufacturer, and marketer of
SpineJet®, whose innovative Fluidjet surgical technology allows
discectomy and interbody fusion procedures to be performed faster,
less invasively, and with a higher degree of precision than
traditional surgical modalities.
The parties also announced the appointment of Howard Donnelly to
the position of President and CEO of HydroCision. Donnelly has more
than 20 years of executive-level experience in the medical device
industry. In addition to serving on several medical device
company boards, he was the past President of Level 1, a medical
device subsidiary of Smiths Group.
HydroCision will focus on several core strategies designed to
strengthen its worldwide position in the spine market. “The global
market for minimally invasive spine procedures is growing rapidly,”
noted Donnelly. “This new investment and strategic direction
will allow HydroCision to extend its technology leadership with a
very strong product suite that will benefit both clinicians and
HydroCision plans to invest in U.S.-based research projects to
further validate the clinical and economic value of HydroCision
products for the medical community and the insurance industry. “We
believe a stronger medico-economic justification for the use of our
products will afford us the platform we need to scale adoption in
the U.S. and OUS markets,” said Donnelly.
HydroCision’s SpineJet system has been widely accepted by spine
surgeons as breakthrough technology for decompression and fusion
procedures. Until SpineJet, spine surgeons were primarily relying
on manual instrumen