Company raising $10M in Series A Funding to bring its advanced radar surgical tracking and fast landmark registration technologies to the $13B+ joint replacement market
LAS VEGAS, March 08, 2023 (GLOBE NEWSWIRE) — Caira Surgical, the pioneer in radar surgical tracking for navigated and robotic joint replacement surgery, unveiled today its revolutionary new technology for advanced joint replacement, the Caira TKA Radar Navigation System, during the CG 2023 Musculoskeletal Conference presentation by Caira’s Chief Executive Officer Jon Greenwald.
“We are proud to showcase our first advancement, the Caira TKA Radar Navigation System, which brings computer-assisted joint replacement into the 21st century,” Greenwald said. “As the first company in the world to achieve sub-millimeter accurate tracking from radar sensors, the Caira technology platform has successfully improved every component and addressed every obstacle of incumbent computer-assisted and robotic-navigated systems.”
Advanced technologies have only a 13% adoption rate for total knee replacement procedures due to the inherent disadvantages of current systems. One of the biggest barriers to adoption is cost, especially for low-volume hospitals and ambulatory surgery centers (ASCs), with traditional robotic and navigation systems priced at up to $1.2 million plus $1,000 in added disposables required for each case. In addition, the learning curve associated with current technology can be steep, disrupting procedure workflow for the surgeon and operating room (OR) staff, increasing OR time, and requiring additional incisions and pins to be drilled into the bone. This increases the risk of patient complications including pin-site pain, infection and fractures.