Tags
MedicalHardwareSurgeryAI
Website
Team size
12
Capital raised
$1.5M
Revenues 2023
0
Founding year
2020
Contact Name
Sanghyun Joung
Contact email
⏰ TL;DR (Too Long; Didn't Read)
AIRS develops advanced robotic solutions to improve and simplify bone fracture surgeries
💡The Idea
- Every year there are over 170 million cases of femur or tibia fractures globally, 45% of which result in surgery (source). Surgical treatment of bone fractures is one of the most frequent surgical procedures in the orthopedic field
- However, surgery for bone fractures is challenging, requiring a high level of anatomical understanding and guesswork, and involves a significant amount of manual work
- AIRS has developed a unique AI-based, surgical platform that includes three major components:
- Precision Robotic Surgery Fixation Device - enables precise bone positioning with zero manual labor as well as pin positioning
- Surgical Navigation System - Real-time visualization and tracking of bone fragments
- Bone fixation pins - Uni-cortical screw-less pins with a robot connection
🥇Benefits
- Improved surgical outcomes - 10x accuracy, lower error rates, faster postoperative recuperation, fewer re-surgeries
- Labor and cost reduction -fewer people needed to perform surgery. Faster surgery times
- Safer surgeries - minimal radiation exposure, 12x less on average
💵 Business Model
- One-time sale of a robotic system - $600,000 per unit
- Ongoing sales of disposable - $1,000 per surgery set with an expected 150 cases per year per system
🌎Market data
The global orthopedic surgical robots market was valued at $6.4 billion in 2021 and is expected to reach $24.22 billion by 2029, growing annually by 18.1% in the period leading to 2029. (source)
🚀Status
- 5 patents granted in Korea and US
- Development concluded. Ready for mass production.
- Pilot in a local Korean hospital in progress, sales to initiate by end of year 2023
📋Regulation
- Status
- KFDA for fixation pin is complete
- KFDA for positioning system to be ready by August 2023
- Future strategy and plan
- Clinical trials for FDA in process. Expected to conclude in mid-2024