Medical device startup Micro C, which produces a handheld X-ray and digital camera imaging device for orthopedic surgeons, has raised an additional $1 million in funding, bringing their total seed amount to $2.2 million. The company says the funds were largely raised from individual physicians.
Murem Sharpe, Micro C’s Chief Marketing Officer, says they will now look towards achieving its main objectives of 2018: securing FDA compliance and launching their manufacturing supply chain to support a commercial launch in October. Micro C’s solution was created by Dr. Gregory Kolovich, an orthopedic hand surgeon who found the 60-year-old current imaging solutions on the market cumbersome and old-fashioned. He partnered with a fellow Georgia Tech engineer, Evan Ruff, and the team was off and running.
The Micro C system is faster — decreasing a patient’s time in surgery — and thus more cost-effective.
It provides a clearer picture and emits significantly less radiation than the existing standard equipment.
It also contains an image receptor and software enabling HIPPA-compliant image and data capture, so it can integrate directly with the patients electronic medical records.
The Savannah-based ATDC company is showcasing the device at the annual meeting of the American Academy of Orthopedic Surgeons, where they hope to impress the 15,000 physicians who serve as their target customers.
In particular, they hope to expand internationally. In November of last year Micro C appointed a new International Medicine Chief, Dr. Youssra Marjoua, to lead their expansion into markets outside the U.S.
“We especially will welcome the international orthopedic surgeons, one-third of the physician attendees, to share the company’s keen interest in bringing the Micro C to international markets,” said Dr. Marjoupa, a Yale and Harvard-educated orthopedic surgeon.
The device is ideal for public health workers in rural areas, wherein an emergency, access to a traditional imaging device may not be possible. The company says that the global orthopedics devices market will grow from about $40 billion in 2016 to more than $60 billion by 2023, with Latin America and Asia Pacific as the fastest-growing markets.