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Morgantown-based MedTech startup studio, Intermed Labs at Mon Health, announced its collaboration and funding of RetrieV, a new suture passer system with patented needle technology to improve arthroscopic surgery of the shoulder, knee, and hip.
“We see incredible opportunity in this technology and are excited to open the doors to more innovation here at home,” said Dr. Tom McClellan, cofounder of Intermed Labs at Mon Health.
“Stronger, stiffer, smaller but using the same surgery techniques, RetrieV is well-positioned to disrupt a nearly $800 million orthopedic market.”
Intermed Labs at Mon Health invested seed capital in this Salt Lake, Utah-based company and is working to bench test, improve the design and engineering, build an experienced executive team, and secure venture funding for the go-to-market strategy.
“Arthroscopy has evolved to meet the changing needs of the population but there is still more that can be done,” said David Skinlo, inventor of the RetrieV system. “We feel this new technology offers an enhanced design to help surgeons perform better procedures allowing patients to heal faster.
“Intermed Labs at Mon Health engineering and medical acumen is the springboard RetrieV needed to get to market. I’m really excited about partnering with Intermed Labs at Mon Health.”
From its inception, Intermed Labs at Mon Health focused on opening the door for transformational innovation and job creation in north-central West Virginia using the development and commercialization strategies from traditional technology hubs like Silicon Valley.
According to David Goldberg, president and CEO of Mon Health System, entrepreneurs who have innovative ideas to advance the future of health care have a space at Mon Health and a world-class team to build, prototype and grow those ideas from across our country, right here close to home.
Intermed Labs is an innovation lab and startup studio that advances technological breakthroughs in medical technology, working physicians, companies and health systems to conceive, launch and scale new businesses.
Mon Health System is an integrated network of physician clinics, outpatient centers and hospitals in north-central West Virginia that works together to make health care more accessible and affordable to the communities it serves. It includes four hospitals — its flagship, Mon Health Medical Center in Morgantown; Mon Health Preston Memorial Hospital in Kingwood; Mon Health Stonewall Jackson Memorial Hospital in Weston; affiliate, Grafton City Hospital in Grafton — as well as Mon Health Equipment & Supplies in Morgantown, Fairmont and Weston; and The Village at Heritage Point. Mon Health System is also part of joint ventures such as HealthWorks Rehab and Fitness, Acuity Hospital of Morgantown, Monongalia EMS, Amedisys Hospice, Care Partners, Encompass and the Mon Health Center for Outpatient Surgery.
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