intellijoint HIP

May 13, 2016

Armen Bakirtzian of Intellijoint looks back on the journey from Startup to Scale-up

For most people, hip replacement isn’t something that crosses your mind until later in life. But for Armen Bakirtzian and co-founders, Andre Hladio and Richard Fanson, developing a solution to help improve the outcomes of these surgeries became a launchpad for starting their company, Intellijoint Surgical Inc.

Together they presented their idea and won the pitch competition at the 2010 Ontario’s Next Top Young Entrepreneur Pitch Competition. That same year they were welcomed to the Accelerator Centre.

Looking back, Armen Bakirtzian, now CEO at Intellijoint, notes that when he and his co-founders first walked into the AC, they were all grinning ear-to-ear. After working in their basements, garages, kitchen tables or any space they could find, having an actual office gave them a tremendous boost in confidence and focus.

“It was an incredible experience. We met great people, got inducted into the ecosystem and took advantage of all the resources. To this day, we all feel that it was one of the best decisions we made.”

He added that as technical co-founders, they came into the program only having the experience of working on a school project. They hadn’t hired anyone or gone through any of the steps of establishing formalized business practices. However, they’ve come a long way since then.

On the day we spoke with Armen, Intellijoint was moving into a larger office. While staying in their current location, they were more than doubling their space. Since graduating from the AC in June, 2014 they’ve gone on to receive nearly $550,000 in FedDev investment.

Their flagship product, intellijoint HIP™, a surgical tool designed to enable orthopaedic surgeons to more effectively meet their surgical objectives and improve patient outcomes, earned them the 2015 North American Frost & Sullivan Award for Enabling Technology Leadership.

They’ve made significant inroads in the Canadian and American markets and they recently entered into a strategic partnership that will provide access to the Australian market.

With success, comes responsibility. Rising to the occasion, Intellijoint is dedicated to remaining in Waterloo Region. Armen firmly states, “Our focus to build ourselves here, to draw talent here and give back to the ecosystem — it all ties back to our time at the AC.”

THE RUNDOWN

Family: He is married to Garod Bakirtzian.

Business hero: His father.

Person he’d like to have lunch with: Carey Price

Guilty pleasure: Nutella

The best piece of advice you’ve ever received: If you’re going to fail, fail quickly and move on to something else.

Three things most people don’t know:

He’s from Quebec.
He has a scuba diving license.
He’s a godfather. (The mentoring kind, not the mafia kind.)

March 17, 2016

Intellijoint Surgical and Corin Group enter strategic partnership for intellijoint HIP

Waterloo, Ontario, March 17, 2016 – Intellijoint Surgical Inc., a privately held Canadian medical technology company committed to developing and commercializing miniaturized surgical smart tools announced today the signing of a distribution agreement with Corin Group. The deal gives Corin distribution rights for Intellijoint’s flagship product, intellijoint HIP™, in Australia and paves the way for broader distribution and co-development between the two companies.

intellijoint HIP provides surgeons with vital intraoperative measurements in real time, enabling proper establishment of cup position, equalization of leg length and restoration of hip offset. These critical measurements enable surgeons and hospitals to improve surgical outcomes by reducing uncertainty and risk, while improving patient outcomes and economics.

Russ Mably, Corin’s Chief Operating Officer commented, “We are delighted to partner with such a progressive company as Intellijoint Surgical, and are excited about our future collaboration. This partnership will further strengthen our market leading position in functional implant positioning with our existing OPS Technology (Optimized Positioning System), and underlines our commitment to continue to invest in Personalized Procedural Innovation”.

“We are pleased to partner with Corin to offer intellijoint HIP to surgeons in Australia. The broader capability of Corin’s organization and their commitment to innovation will expand access to the latest technology available for 3D surgical measurement to the growing Australian hip replacement market where surgeons currently perform about 45,000 procedures annually. We look forward to the beginning of a meaningful relationship between our two companies and are excited about future opportunities,” says Armen Bakirtzian, Chief Executive Officer and Co-founder of Intellijoint Surgical.

About Intellijoint Surgical Inc.

Intellijoint Surgical is a Waterloo-based innovative medical technology company. Founded in 2010, they develop and commercialize miniaturized surgical smart tools that enhance surgeon accuracy, increase hospital economic efficiencies, and improve patient outcomes. The company’s R&D team is led by the former co-founder of Medtronic’s computer assisted surgery division, and driven by a team of renowned orthopaedic surgeons: Drs. Allan Gross and David Backstein in Toronto, Dr. Wayne Paprosky in Chicago, Dr. Javad Parvizi in Philadelphia and Drs. Michael Cross and Ran Schwarzkopf in New York.

About Corin Group

As a leader in orthopaedic innovation, Corin has pioneered a number of landmark developments since it was founded in 1985. Corin is very proud to have been able to improve the quality of life of hundreds of thousands of patients around the world through the introduction of these groundbreaking products, and believes that this heritage distinguishes Corin within the global orthopaedic market. Corin’s talented and dedicated teams share a common commitment – to deliver quality orthopaedic products, procedural innovation technologies and services to patients, surgeons and healthcare providers, which exceed their expectations and positively impact their lives, through Responsible Innovation.

January 12, 2016

Intellijoint Surgical Wins 2015 Frost & Sullivan Award for Enabling Technology Leadership

Frost & Sullivan Commends Intellijoint Surgical for the Success of intellijoint HIP™

Intellijoint Surgical’s core technology represents the latest in miniature 3D surgical measurement within the sterile field — intellijoint HIP can improve accuracy in achieving preoperative planned targets, ultimately improving patient satisfaction and healthcare economics

MOUNTAIN VIEW, Calif., Jan. 12, 2016 /PRNewswire/ — Based on its recent analysis of the hip replacement market, Frost & Sullivan recognizes Intellijoint Surgical with the 2015 North American Frost & Sullivan Award for Enabling Technology Leadership. Intellijoint Surgical’s flagship product, intellijoint HIP™, can greatly increase the success rates of hip replacement procedures by providing orthopedic surgeons with real-time data measurements of cup position, leg length, and offset intraoperatively. Accurate implant selection and alignment improves patients’ outcomes and reduces overall treatment costs.

“intellijoint HIP™, incorporates Intellijoint Surgical’s proprietary core technology, a miniaturized 3D surgical measurement system placed within the sterile field that provides surgeons with accurate measurements in real-time,” said Frost & Sullivan Best Practices Director,Tonya Fowler. “The data assists surgeons in selecting the best-fitting implant for the patient and helps align the implant in the desired location that is critical for a successful surgical outcome.”

Orthopedic surgeons are equipped with preoperative images of the patient’s hip, but these images are only useful in helping the surgeon create a preoperative plan, not execute it. intellijoint HIP™ provides surgeons with 3D information intraoperatively, helping them with proper implant selection, positioning, and alignment that ultimately improves accuracy in achieving preoperative targets.

Aided by intellijoint HIP™, orthopedic surgeons no longer have to ‘eye ball’ or manually position hip implants, as the device enhances placement precision and minimizes the risk of joint instability, which can lead to additional negative consequences for the patient such as dislocation and leg length discrepancy. intellijoint HIP is safe, fast, accurate and seamlessly integrates with surgeons’ workflows. It is affordable and does not impact operating room time. Additionally, intellijoint HIP™ gives surgeons greater confidence to recommend hip replacement surgery, as the risk for revision hip surgery may be lowered.

Intellijoint Surgical is aware of the huge capital expenses hospitals incur in surgical procedures and, as such, the company does not demand a large upfront capital investment for intellijoint HIP™. Intellijoint Surgical has a pay-per-use model, with manageable fees that do not require C-level executive approvals. The approvals can be obtained from the Operating Room Manager.

“Intellijoint Surgical has demonstrated the long-term viability and impact of its core technology through its innovative new product in hip replacement. It is a great pleasure to recognize Intellijoint Surgical for developing a technology that allows all orthopedic surgeons to benefit from computer-assisted surgery and deliver improved outcomes for their patients,” said Krishna Srinivasan, global president and managing partner, Frost & Sullivan.

For its utility in enhancing the efficiency of orthopedic surgeries and reducing hospital costs, Frost & Sullivan is pleased to present Intellijoint Surgical with the 2015 North American Frost & Sullivan Award for Enabling Technology Leadership.

Each year, Frost & Sullivan presents this award to a company that has developed a pioneering technology that not only enhances current products but also enables the development of newer products and applications. The award recognizes the high market acceptance potential of the recipient’s technology.

Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.

About Intellijoint Surgical

Intellijoint Surgical is a Waterloo-based innovative medical technology company. Founded in 2010, they develop and commercialize miniaturized surgical smart tools that enhance surgeon accuracy, increase hospital economic efficiencies, and improve patient outcomes. The company’s R&D team is led by the former co-founder of Medtronic’s computer assisted surgery division, and driven by a team of renowned orthopedic surgeons: Drs. Allan Gross and David Backstein in Toronto, Dr. Wayne Paprosky in Chicago, Dr. Javad Parvizi in Philadelphia and Drs. Michael Cross and Ran Schwarzkopf in New York.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

January 8, 2016

Intellijoint Surgical Receives FDA Clearance for the Next Generation of intellijoint HIP™

A Miniature Surgical Smart Tool for Cup Position, Leg Length, and Offset in Hip Replacement Surgery

WATERLOO, ON–(Marketwired – January 07, 2016) – Intellijoint Surgical Inc., a privately held Canadian medical technology company committed to developing and commercializing miniature surgical smart tools, announces today that it has been awarded US Food and Drug Administration clearance for the next generation of intellijioint HIP™. Cup position (inclination and anteversion) is now provided, in addition to the original leg length, offset, and change in hip center measurements.

“With the previous generation of the product, our use showed improved accuracy and precision of implant selection without a significant expense or impact on OR time,” said Dr. Wayne Paprosky, professor and widely published orthopaedic surgeon at Rush Medical Center in Chicago. “The new generation of intellijoint HIP provides surgeons with additional critical implant alignment measurements including cup inclination and anteversion, which will be a potential game changer of how hip surgery is performed in the US.”

intellijoint HIP can assist in the prevention of recurrent instability, hip dislocation and leg length discrepancy and may expedite decision-making and improve accuracy in achieving preoperative planned targets, ultimately improving patient satisfaction and healthcare economics.

“Intellijoint was founded in 2010 with the vision of developing and commercializing an innovative technology that is capable of providing real time 3D surgical measurement data, without adding significant time, expense or complexity to surgery,” says Armen Bakirtzian, Chief Executive Officer and Co-founder of Intellijoint Surgical. “Now, with FDA clearance ofintellijoint HIP, we’ve realized this vision and are ready to bring its benefits to the largest market in the world.”

Intellijoint’s core technology represents the latest in miniature 3D surgical measurement within the sterile field. intellijoint HIP is the first of many products to benefit from this new novel core technology. It is safe, fast, accurate, and precise. intellijoint HIP‘s compatibility with the majority of implant vendors, paired with its cost-effectiveness, opens accessibility of computer-assisted surgery to all orthopaedic surgeons.

About Intellijoint Surgical Inc.

November 5, 2015

AC Grad Intellijoint granted new patents in the US

Intellijoint Surgical’s Patent Portfolio Gains Strength Through the Issuance of New US Patents

AC Graduate Intellijoint Surgical Inc., a medical technology company committed to developing and commercializing low-cost miniaturized surgical smart tools, announced today that the United States Patent and Trademark Office has granted the company a key patent related to its core technology in miniature 3D surgical measurement. The patent, number 9138319, is entitled “Method and system for aligning a prosthesis during surgery”.

Intellectual property development is a strategic cornerstone for Intellijoint Surgical. The company continues to build its patent portfolio through new applications and several recent issuances. The issuances include Intellijoint’s core technology and the surrounding instrumentation enabling it to be placed in a sterile field. Another key patent, entitled “System and method for intra-operative leg position measurement” is expected to issue in early 2016.

“Our miniaturized smart tools are setting the new standard in 3D measurement for surgery,” says Armen Bakirtzian, Chief Executive Officer of Intellijoint Surgical. “Patent issuances are rewarding milestones recognizing the novel technology our organization has created. We will continue to aggressively pursue patents to protect our innovations and build business value”.

Intellijoint graduated from the Accelerator Centre in 2014. The company’s technology provides quantifiable, accurate, intra-operative feedback helping surgeons and hospitals to potentially improve surgical outcomes through accurate implant positioning and selection, ultimately improving patient satisfaction and healthcare economics.

July 15, 2015

The intellijoint HIP is now available across Canada

Intellijoint Surgical Inc., a privately held Canadian medical technology company committed to developing low-cost, miniaturized surgical smart tools, announced today the commercial launch of its flagship product, intellijoint HIP™, for use by orthopaedic surgeons across Canada.

intellijoint HIP is simple, easy to use and provides surgeons with vital intra-operative measurements enabling proper cup position, equalization of leg length and restoration of hip offset. These critical measurements can assist in the prevention of recurrent instability, hip dislocation and leg length discrepancy. intellijoint HIP benefits from the company’s proprietary core technology, a miniaturized surgical grade tracking system placed in the sterile field.

“intellijoint HIP is a revolutionary smart tool that will make a significant impact on patient outcomes in hip replacement surgery and health care system costs worldwide,” said Armen Bakirtzian, Co-Founder and CEO of Intellijoint Surgical. “Use of our device will reduce costly readmissions and unnecessary revision surgeries while improving clinical outcomes and patient satisfaction. We are extremely excited for this milestone and the next steps in our company’s growth.”

The company has successfully conducted a limited launch of intellijoint HIP with 200+ live surgeries in the U.S. and Canada performed by select key opinion leading orthopaedic surgeons. The commercial launch will commence in Ontario, and expand to the rest of the country.

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