Fall River, MA, November 17, 2009 — NuOrtho Surgical, Inc., a medical device firm focused on surgical instruments to enable Tissue Preservation™ in the orthopedic arena, announced today it has closed $1 million in Series B financing from private investors and individuals familiar with the orthopedic industry. The company plans to use the capital to file their FDA 510k application on their first product, scale up manufacturing capabilities and procure initial inventory for product launch in the first part of 2010.
“NuOrtho is the type of industry that Fall River is looking for. Projected job growth in the health care and medical manufacturing sector continues to be an area of opportunity for us. As a company that continues to be incubated and grow in the Advanced Technology and Manufacturing Center (ATMC), NuOrtho has a breadth of patented products that will take medical devices to the next level and create jobs for years to come. We look forward to accommodating each stage of growth in Fall River,” states Kenneth Fiola Jr., Executive Vice President of the Fall River Office of Economic Development.
NuOrtho CEO Jeffrey M. Morrill comments, “As the population ages, there is a growing need to sustain longterm mobility, particularly among baby boomers. The future is bright for innovative products that have a clear point of difference and benefits. Our technology leverages a low level Radio Frequency energy to restore mobility in patients by preserving healthy tissue in many procedures done today designed for both soft and hard tissue. While we await FDA approval, we are excited to build our team to commercialize our Tissue Preservation™ platform.”
