Knee Replacement Manufacturer ConforMIS to Expand Using MassDevelopment Emerging Technology Loan
July 12, 2011
MassDevelopment has provided a $1,445,000 loan from the Emerging Technology Fund to Burlington’s ConforMIS, Inc., a privately held medical device company that is pioneering a new type of implants used in orthopedics. ConforMIS uses computed tomography scans and proprietary computer aided design technology to create customized knee implant solutions for each patient. This customized approach also allows for a highly efficient just-in-time delivery model that takes full advantage of manufacturing innovations such as 3D printing.
ConforMIS will use loan proceeds to purchase multiple pieces of fabrication equipment and instruments used in its Massachusetts-based manufacturing operations. At the end of 2010, the company moved to a larger facility to accommodate its aggressive growth and manufacturing expansion. With the recent 510(k) clearance from the U.S. Food and Drug Administration for the iTotal® CR Knee Replacement System, the only patient-specific total knee implant, the company expects to accelerate its rapid growth.
“With this new technology, ConforMIS will be able to provide knee replacements to those who are underserved by current designs,” said MassDevelopment President and CEO Marty Jones. “The Emerging Technology Fund helps companies that are starting or expanding manufacturing in Massachusetts, and this project is a triple play: boosting production, creating jobs, and serving the health needs of the Commonwealth.”
“The loan from MassDevelopment will further support the expansion of our supply chain and manufacturing presence, which is critical to our competitiveness within the orthopedics industry,” said Dr. Philipp Lang, MD, CEO of ConforMIS. “Ultimately, the loan will help ConforMIS push the orthopedics industry toward a more efficient and more personalized approach to osteoarthritis treatment, and ultimately to enhance patients’ quality of life.”
About ConforMIS, Inc.