Joint injury diagnostics business Trice Medical raises $19.3M following FDA device clearance

In a push to develop alternative imaging technologies, medtech companies have been developing mobile devices that are small enough to be used at the patient’s bedside or examining room with applications ranging from concussion detection to fetal exams.

Trice Medical, a Philadelphia area business, is one such company. Trice developed a needle equipped with a camera to give orthopedic physicians a better assessment of sports-related joint injuries and offer a cheaper alternative to MRIs.

Trice has raised $19.3 million in a Series C round with the goal to ramp up its sales and commercialization efforts after securing 510 (k) clearance for the mi-eye2 device in the final quarter of 2016, according to a company news release.

UK-based Smith & Nephew took a minority stake in the business and is one of a group of investors that includes Safeguard Scientifics, HealthQuest Capital, BioStar Ventures, and others.

The mi-eye2 device from Trice Medical, which won MedCity’s Best of INVEST award in the diagnostic category last year, uses a disposable optical needle with a fully integrated camera. The device produces images that can be viewed on a handheld tablet and designed to replace the use of MRI in taking these images and assessing the scope of injuries.

By Stephanie Baum | MedCity News

Image Credit: Trice Medical

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About Peter Coffaro 1148 Articles

A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.

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