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Orthopedic Seed Funding in the City

In May 2005, a leading orthopedics hospital, two health-care focused venture capital firms, a real estate investment trust, and a local economic development group came together to form New York Orthopedic Technologies LLC, in order to fill a gap in seed stage investing in orthopedics. The consortium hopes to address several challenges unique to early stage value creation in medical technology: how to bring particular sets of resources to the entrepreneur or physician with a concept-clinical, financial, operational, and logistical; how to get the technology to the next milestone without creating a model that itself requires care and feeding; and how to create a structure that serves the divergent goals of all the participants.

In May 2005, a leading orthopedics hospital, two health-care focused venture capital firms, a real estate investment trust, and a local economic development group came together to form New York Orthopedic Technologies LLC, in order to fill a gap in seed stage investing in orthopedics. The consortium hopes to address several challenges unique to early stage value creation in medical technology: how to bring particular sets of resources to the entrepreneur or physician with a concept—clinical, financial, operational, and logistical; how to get the technology to the next milestone without creating a model that itself requires care and feeding; and how to create a structure that serves the divergent goals of all the participants.

The members of New York Orthopedic Technologies, which do indeed have different interests, think their affiliation will address those challenges. The New York City Investment Fund, an economic development entity...

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