AngelMD Investor Group Closes Funding Round with Indago
DENVER, Nov. 13, 2018
DENVER, Nov. 13, 2018 /PRNewswire-PRWeb/ -- Arthroscopy is one of the most common procedures performed in the United States (almost 5,000 per day), yet its underlying technology has not seen significant change since the first video arthroscope was introduced in the late 1970s. Indago is an Ohio-based company that is making surgery smarter by developing tools for a highly-efficient, tech-enabled surgical suite. The company's first product, ArthroFree, is a generation-skipping endoscopic camera that eliminates the wires—and their associated risks and inefficiencies—holding back legacy systems.
Today, a group of AngelMD investors announces the completion of a syndicate funding round for Indago as part of the company's $5.5 million Series A. The funds will be used to finalize development of ArthroFree, submit the device for FDA approval, staff up for market entry, and begin work on the next product in Indago's portfolio.
"Working alongside AngelMD's physician leaders to advocate for our vision of the operating room of the future has been remarkable," said Indago co-founder and CEO Eugene Malinskiy. "We found both physician and non-physician champions at every event and webcast, and now we have a pool of likely first users, as well as knowledgeable resources for current and future products."
ArthroFree eliminates expensive consumables, such as fiber optic cables, replacement light bulbs, and sterilization materials that are all required for the current systems. Furthermore, by removing the cables that tether all current arthroscopic cameras to the surgical tower, ArthroFree eliminates the associated trip and fall hazards, fire risks, and vectors for hospital-acquired infections.
"Indago is an innovative company which will revolutionize the world of arthroscopy in the operating room. This is a technological evolution that is long overdue," said AngelMD Lead Investor Dr. Brian Parsley. "By untethering the arthroscopic hand piece from the light source and cable connections while maintaining high quality imagery and improving efficiency will be a game-changer in the industry. AngelMD gave me an opportunity to invest in this exciting new company and be a part of next wave of change in my operating area."
Indago's ArthroFree system has fewer components to set up versus the competition and is drop-in compatible with existing systems. This compatibility removes the need for new training, new workflows, or other disruptions to current processes.
AngelMD, an online Healthcare Investment and Innovation Marketplace, connects and engages a network of physicians, angel investors, early stage healthcare companies and subject matter experts through a powerful technology platform to create better outcomes for patients and investors. For more information, visit http://www.angelmd.co
About Indago Indago is creating the operating room of the future with its smart surgical tools. Their first product is ArthroFree, a fully wireless minimally invasive camera that seamlessly integrates into existing OR workflows. This generation-skipping endoscopic visualization system is designed for all surgeons who are frustrated by unwieldy cables and outdated technology. With ArthroFree, Indago empowers surgeons to focus on their patients and procedures, not their tools. For more information, visit http://indago.io