Eventum Orthopaedics funding news – Ilkley-based Eventum Orthopaedics Secures €4.5 Million in Funding

This funding round is the third led by Mercia Ventures and the Northern Powerhouse Investment Fund (NPIF), bringing the total amount raised to over €8.3 million.

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John Naybour, Founder and CEO, said: “Total knee replacement is a common operation, yet two out of ten patients are not happy with the results and one in ten is very dissatisfied. Our mission is to improve success rates by providing data to help surgeons to make better clinical decisions. The device has been well received by the orthopaedic profession and we are excited to be rolling it out internationally.”

Eventum’s QuadSense device helps surgeons accurately position the kneecap during total knee replacement surgeries. Every year, more than 2 million people worldwide have knee replacements, but about 20% of them are not fully satisfied with the results.

Eventum Orthopaedics believes that getting the kneecap in the correct position is key to improving the success of the surgery. QuadSense is the only device that gives surgeons real-time data on the kneecap’s position. It has already been approved in the UK and US and has been used in over 300 surgeries.

The company has set up distributors in the UK, US, and other key markets and is also working on similar devices for shoulder and hip surgeries.

Rob Hornby of Mercia Ventures added: “Eventum’s product will not only improve outcomes for patients but also reduce the cost of treating dissatisfied patients which is estimated at £5k and £6k for each case. Having supported the company from an early stage, we are pleased to see it achieve this important milestone with the launch of its first product. We look forward to working with the team as they grow sales and develop new products to improve the success of other common operations.”

Lizzy Upton, senior manager at the British Business Bank, said: “West Yorkshire is known for its expertise in developing implants, such as those used in orthopaedics, so it’s great to see the Northern Powerhouse Investment Fund II being used to support growth in this sector. Eventum is a perfect example of how Yorkshire-based businesses can harness the power of NPIF II to expand, creating jobs in the region and contributing to the regional economy.”

About Eventum Orthopaedics

Eventum Orthopaedics is a small, Yorkshire-based MedTech company with big plans to make an impact in orthopaedics.