Intellijoint Surgical has received up to $550,000 from FedDev Ontario to develop and commercialize the company’s innovative Intellijoint HIP™ sensor system for orthopaedic surgery. The announcement was made by MP Peter Braid on site at Intellijoint on Tuesday March 6th, as part of a larger FedDev funding announcement.
“We are extremely grateful for the FedDev Ontario Investing in Business Innovation initiative and its continued support for great start-ups like Intellijoint Surgical”, says Armen Bakirtzian, CEO of Intellijoint. “With FedDev Ontario’s support we are able to accelerate the commercialization Intellijoint HIP™.”
Intellijoint HIP™ is a miniaturized system consisting of two disposable sensors and a display unit. It is designed to help orthopaedic surgeons in the selection and positioning of orthopaedic implants during hip replacement surgery. “Intellijoint Surgical’s technology has been leveraged by surgeons in hundreds of surgeries in Canada. Now the company is expanding into new markets,” said Peter Braid, MP for Kitchener-Waterloo. “In fact, in September of last year, Massena Memorial Hospital in New York became the first hospital in the United States to use the technology.”
Intellijoint Surgical was one of three companies to receive FedDev investment, with Auvik Networks and Dejero also receiving funding rounds as part of the announcement. Overall, FedDev committed $1,775,000 to the three companies, which is anticipated to allow for the creation of up to 55 new jobs in Waterloo Region.