Eventum Orthopaedics secures £3.8M to improve knee replacement surgery success

Medtech company Eventum Orthopaedics, focused on improving  knee replacement surgery, has raised a further £3.8 million from NPIF II – Mercia Equity Finance — managed by Mercia Ventures as part of the Northern Powerhouse Investment Fund II (NPIF II), Mercia’s EIS funds and private investors including leading surgeons. It brings the company’s funding to £7 million.

Currently, over 2 million patients a year have knee replacements globally, yet around 20 per cent are not fully satisfied with the outcome. Eventum believes the key to improving success rates is the position of the kneecap, which plays a crucial role in the knee’s function.

Eventum’s QuadSense device helps surgeons to precisely cut and place the kneecap in total knee replacements. 

John Naybour, founder and CEO, said: 

“Total knee replacement is a common operation, yet two out of ten patients are not happy with the results and one in ten is very dissatisfied.

Our mission is to improve success rates by providing data to help surgeons to make better clinical decisions. The device has been well received by the orthopaedic profession and we are excited to be rolling it out internationally.”

The device provides surgeons with real-time data on the position of the kneecap. It has already gained regulatory approvals in the UK and US and has been used in over 300 procedures.

Founded in 2020, the company has now appointed distributors in both countries and in a number of other key international markets, and it is developing similar devices for shoulder and hip operations.

Rob Hornby of Mercia Ventures added:

“Eventum’s product will not only improve patient outcomes but also reduce the cost of treating dissatisfied patients, estimated at £5,000 and £6,000 for each case. Having supported the company from an early stage, we are pleased to see it achieve this important milestone.” 

The funding will enable Eventum Orthopaedics to build stocks of its product following its launch in the UK, US and New Zealand and to help it develop two new devices.