Neo Medical closes Swisscom Ventures-lead USD $20.6M financing round

Proceeds to accelerate the commercial deployment of Neo Medical AI-driven ADVISE™ augmented reality platform for spinal surgery

LAUSANNE, Switzerland, Feb. 17, 2022 /PRNewswire/ -- Neo Medical, a Swiss-based medtech company developing value-based care solutions in spinal surgery, announced today the closing of a USD $20.6M financing round. The last round features Swisscom Ventures as lead investor, a testament to the expansion of the company's spinal surgery integrated ecosystem in the digital space. In particular, the proceeds of this financing round will support the accelerated commercial deployment of Neo Medical ADVISE™ augmented reality platform for spinal surgery, with a particular focus on the US market.

Speaking about the closing of the USD $20.6M round, Vincent Lefauconnier, Neo Medical CEO, explained: "Over the past years, we have pushed our integrated physical platform for spinal surgery to levels never reached before, improving surgical outcomes, streamlining treatment cycles, and reducing environmental impacts, while lowering healthcare costs. Looking forward, we will focus on the commercial deployment of the digital component of our platform with ADVISE™, which for the first time bring surgeons real-time augmented reality (AR) visibility for patient specific spinal treatment."

"We have been deeply impressed with Neo Medical's management team and their vision to digitalize the spinal surgery space. Swisscom Ventures is very excited to support the company with the roll-out of ADVISE™ and its expansion in the US market. The company is well positioned to scale up and reinforce its position as a global player," said Dr. Myoung-Ok Kwon, Investment Partner, Swisscom Ventures.

ADVISE™ complements Neo Medical existing optimized implants and instruments platform, resulting in a total technology ecosystem, transforming spinal surgery. Neo Medical universal implants, smart instruments, and software work together to create value at every level and for every stakeholder. The Swiss medtech company's complete system of hardware and software technologies supports enhanced outcomes at each stage of the perioperative process: preoperative planning, intraoperative actions, and postoperative recovery.

Vincent Lefauconnier added: "Improving surgical systems has benefits far beyond the OR. Our technologies are designed to improve outcomes and impacts at every level, decluttering the OR, cutting time spent in surgery, improving outcomes, lowering costs, and reducing environmental damage through material efficiency. As we continue to expand into the digital space, we seek to deliver a total smart surgery solution for surgeons."

About Neo Medical

Focusing on value-based care, Neo Medical develops a new generation of controlled-fixation solutions designed for a more Functional Fusion in spinal surgery, respectful of patients' unique spinal conditions. With only five multi-functional instruments covering most spine indications in a universal approach, the unique proprietary features of Neo Medical solutions ensure an anatomically neutral, balanced, and stable spine load bearing, to achieve a Functional Fusion. Neo Medical fixation solutions also provides everyone involved in spinal surgery with an easier and more efficient experience and offers additional value by driving factors that limit infections, removing re-sterilization needs, de-cluttering the OR, reducing re-operation rates and the associated costs, while ultimately putting patients, practitioners, payers, providers, and society at large in control. Beyond providing solutions tailored to patients' needs, the Neo Medical value-based care approach participates in preserving the overall environmental sustainability of the broader healthcare system. For more information, please visit: https://www.neo-medical.com/en/index and follow Neo Medical on LinkedIn: @NeoMedical.

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Media contact:
Alphonse Daudré-Vignier 
+41 79 127 63 58
adaudre-vignier@webershandwick.com