Around 2 million patients worldwide undergo a total knee replacement each year, which is expected to surge to 3.5 million by 2030. However, studies estimate that nearly 20 percent of patients who undergo knee replacement surgery are dissatisfied with their outcome.
To address this, UK-based medtech startup Eventum Orthopaedics has developed a unique and innovative device with sensor technology that could improve outcomes for patients who have undergone knee replacement operations. Now, the company has pocketed £1.4 million in funding.
Product launch slated for 2022
The investment round in Eventum Orthopaedics came from NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund, Mercia’s EIS funds and private investors, including numerous world-leading orthopaedic surgeons.
The company will let the team to finalise development and bring the product to market in 2022. As part of the investment Alan Ashby, who served senior roles with international medical companies, has been appointed as Non-Executive Chair of Eventum Orthopaedics.
John Naybour, Eventum’s CEO, said: “I have spent my working life involved in developing products to improve total knee surgery. It is exciting to be part of a small med tech start up with a big vision to deliver accessible innovation to improve patient outcome for total knee patients across the globe.”
Tom Kitchen of Mercia added: “With a more active, ageing population, demand for total knee replacements is growing rapidly but clearly success rates need to improve. Eventum’s device could offer a solution by removing the guesswork from surgery and providing accurate measurements. This is an exciting development and the fact that surgeons themselves are willing to invest in it is a major vote of confidence.”
Improves success rates knee replacement surgeries
Founded in Ilkley, Yorkshire by John Naybour and Paul Atherton, with almost 50 years’ experience in the field of orthopaedics and previously held senior roles with Johnson & Johnson. The medtech company believes that the key to improving success rates can be achieved by focusing on the positioning of the kneecap, which plays a significant role in the overall function of the knee.
The company has already created early prototypes with input from eminent surgeons worldwide. Eventum has developed an innovative device that will be the first-of-its-kind to provide real-time measurements of the knee area during the operation, enabling surgeons to improve their decision making.