Monogram is currently running a crowdfunding campaign that is open to the public. Any interested parties now have the opportunity to own shares in innovative and personalized orthopedic care. Visit Monogram’s website to learn more.
In reference to the astounding failure rates and patient dissatisfaction, Newsweek recently published, “Given the sheer number of knee and hip replacement procedures every year, the fact that joint reconstruction technology has remained unchanged for over 50 years is perplexing.”
Nearly 1 million people undergo these procedures every year in the United States, yet 10% of all knees and 15% of all hips will fail. Almost 36% of surveyed knee replacement patients would not have undergone surgery knowing what it did for them ten years later. Complications can be painful and can last a lifetime. When implants fail and require revision, the procedures can be extremely high-risk.
With rapid medical technology advances in so many fields outside of orthopedics, why has innovation in this $19.6B market proven so sluggish? One possibility is the scarcity of startups and competition. Four companies currently dominate the multi-billion dollar joint reconstruction market with an 82% combined share in knees, and remarkably with one of the top players accounting for 87% of orthopedic robotics. Large, risk-averse conglomerates are simply not designed for innovation. Monogram believes that patients deserve a 21st-century orthopedic solution to minimize risk and restore patient quality of life.
Monogram is developing a better way by commercializing highly personalized joint implants unique to every patient and a first-of-its-kind active robotics system that performs precise bone cuts.
This innovative startup’s team of experts in robotics and medical technology have put their heads together to develop a state-of-the-art solution to this problem. They’ve designed customized prosthetic implants via 3D printing and a surgical robotics system that uses CT-based planning. They intend to completely shift the industry by delivering a state-of-the-art system that substantially improves patient outcomes and ultimately gives people their lives back.
How do they do it? First, the patient undergoes a CT scan. The company then uses AI algorithms that create a 3D representation of the patient’s unique bone structure. They use this to make the patient-specific surgical plan and optimized 3D printed titanium alloy press-fit implants. Unlike cement implants that can crack and loosen over time, the bone naturally fuses to the metal with press-fit implants, creating a very stable environment. The surgeon places the implants using Monogram’s high-accuracy surgical robotics system.
“The goal right now is forward-thinking, and we are focused on the long-term. In the long-term, innovative products that improve patient lives are what matter to us most,” said CEO Ben Sexson.
Monogram’s comprehensive solution is a first for the orthopedic market. Current robotic systems supplement manual techniques – the implants are insertable with both manual instruments or the robot. Monogram wants to push the envelope and be the first company to market a precise surgical robotic arm with 3D-printed patient optimized implants. Crude and finicky instruments have constrained our thinking about how implants work. The tools of the 21st century will drive the future of implant design.
Fortunately, Monogram is already on the precipice of catalyzing positive change. They’ve achieved significant milestones to date, including building a team of 18 full-time employees with a 6,000 square ft facility that includes fully functioning cadaver and robotics labs. The company has seven patents filed and one issued patent.
They’re on track to shift the industry’s standard and make joint replacement procedures less daunting for the millions of people who need them. Monogram’s goal is to try and improve patient outcomes and mitigate risk with technology so that people can get back to their everyday routines and live life to its fullest.
Disrupting this market with large incumbents won’t be easy. The competition is well entrenched, but Monogram’s management believes that differentiation and innovation will win the day if they can execute their technology strategy. Ultimately the company believes that patients deserve better. Driven by an enduring passion for restoring patient outcomes, Monogram hopes to accelerate the pace of progress for orthopedic medicine.
We’re living in an incredible age of technology innovation – it’s time to harness this progress for stagnant markets like orthopedics. The Monogram team has dedicated itself to making this transformation a reality.
Join in on the joint replacement revolution. Visit www.monogramorthopedics.com.
This Reg A+ offering is made available through StartEngine Primary, LLC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. For more information about this offering, please view Monogram Orthopedics offering circular as well as the risks associated with this offering.