Neo Medical Closes $20.6M Financing Round

Neo Medical, based near Lausanne, Switzerland, has announced the successful close of its $20.6 million financing round led by Swisscom Ventures.

Neo Medical is a medical technology company focused on developing spinal surgery solutions. According to the company, this round of funding will be used to accelerate the commercial deployment of its Advanced Dynamic Visualization of Intraoperative Spinal Equilibrium (ADVISE™) tool. According to the Neo Medical website, ADVISE provides spinal surgeons with “real-time, augmented reality (AR) visibility.” The company will pay particular attention to the commercial deployment of ADVISE in the U.S. market.

Neo Medical CEO Vincent Lefauconnier explained the company’s future plans to OTW, “The funds will be used to accelerate 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 commercial deployment of ADVISE, Neo Medical AI-driven augmented reality platform for spinal surgery. Our goal remains to create value at every level and for every stakeholder involved in spinal surgery. In 2022 specifically, the company objectives are to continue to grow in the digital space and to accelerate the commercial presence on the U.S. market.”

Using ADVISE in conjunction with Neo Medical’s existing platform results in a “total technology ecosystem.” The combination of Neo Medical’s implants, smart instruments, and software “supports enhanced outcomes” at every step of the surgical process, from planning through postoperative recovery.

Lefauconnier added, “As we continue to expand into the digital space, we seek to deliver a total smart surgery solution for surgeons.”

Swisscom Ventures is Swisscom AG’s venture capital firm. The firm is well-versed in the technology space and has invested in more than 70 technology companies from Switzerland and the U.S.

Swisscom Ventures Investment Partner Myoung-Ok Kwon, Ph.D. commented, “We have been deeply impressed with Neo Medical’s management team and their vision to digitalize the spinal surgery space.”

Dr. Kwon continued, “Swisscom Ventures is very excited to support the company with the roll-out of ADVISE and its expansion in the U.S. market. The company is well positioned to scale up and reinforce its position as a global player.”