Press Release – Ossis Ltd
Auckland, 18 June, 2019. Leading orthopaedic implant company Ossis has embarked on a capital raise via private equity marketplace Snowball Effect.Ossis is New Zealand’s only orthopaedic implant design company. It focuses exclusively on the design and marketing of world-class patient-specific orthopaedic implants, primarily for use in the treatment of complex degenerative defects of the pelvis and spine and sarcoma (cancer) of the pelvis.
Ossis managing director Kelvin Hyland says the company has achieved some significant milestones in the past 12 months and the time is right for further investment to expand its operations in key markets.
“The custom orthopaedic implant market is a competitive one internationally but we’ve seen our combination of proven clinical outcomes and engineering excellence gain significant recognition. Our clinical record is exemplary; after more than 220 surgeries none of our implants have experienced mechanical failure. We recently completed our first surgeries in the United States, UK, Germany and Switzerland, have more cases booked for the United States and Europe and will sign our first consulting agreement with a prominent Sydney surgeon.”
“In addition the Australian Federal Government has just provided $6 million funding for the Chris O’Brien Lifehouse in Camperdown, which is establishing a world-class sarcoma research and treatment centre. Ossis will be designing the 3D printed implants the centre will use.”
Hyland says that due to the patient-specific nature of Ossis implants recipients spend less time both in surgery and in hospital post-surgery and do not require revision surgery. The result is better long-term patient outcomes and a total cost of care that is approximately 14% less than when an OTS (off the shelf) implant is used in the same circumstance.
That kind of long term benefit for both patient and healthcare providers is what is driving interest in the company. With the global orthopaedic implant market valued at over US$47b and projected to grow to US$75b by 2023, the burden on surgeons, hospitals and insurers is set to increase.
Snowball Effect has raised $53 million for growth stage companies since launching in 2014. Through its platform it provides investors the opportunity to invest directly in private New Zealand companies. CEO and co-founder Simeon Burmett says Ossis’ strong track record and its niche market focus has received strong investor interest, with $1.2 million already invested and with directors happy to take up to $1.8 million in over subscriptions.
The offer will close on 21 June, unless fully subscribed prior.