OrthoSpace announces completion of financing transaction

OrthoSpace Ltd. ("OrthoSpace" or "Company") announced today the completion of a financing transaction led by HealthpointCapital, LLC ("HealthpointCapital"), which also includes existing investors Smith & Nephew and TriVentures. The proceeds from the transaction will facilitate the Company's continued market adoption, clinical study programs and entry into the emerging markets. The Company's flagship product, InSpace, is a disruptive technology for the treatment of severe rotator cuff tears. The terms of the transaction were not disclosed.

According to OrthoSpace's CEO, Itay Barnea, "This round of financing and new partnership with HealthpointCapital will position OrthoSpace for worldwide growth. InSpace offers a treatment for patients who currently have few options in the continuum-of-care for rotator cuff injury. The technology addresses a large and growing market segment with limited treatment options."

"With five years of clinical experience and over 5,000 procedures completed, we have developed a loyal following among surgeons in Europe and Israel. We look forward to expanding our footprint into new markets," said Assaf Dekel MD, OrthoSpace's Co-Founder and Medical Director.