McGinley Orthopedics | Joseph McGinley, CEO

Speakers

Joseph McGinley

Joseph McGinley

Founder & CEO, McGinley Orthopedics
Read Biography
The IntelliSense Drill is an innovative handheld robotic technology which can change the standard of care in orthopedic procedures.

(Transcription)

Joseph McGinley  0:00  

Thank you. My name is Joe McGinley, I'm the founder and CEO of McGinley orthopedics. Today I'm going to talk about why I became an entrepreneur, I became an entrepreneur because I wanted to make a difference in as many patients lives as possible. How many people in this room have experienced an orthopedic surgery, or know a family member that has undergone an orthopedic surgery, raise your hand, it's like pretty much the entire room. The incidence of fractures are 12 to 15 million per year in the United States alone. For those over the age of 50 40% of women and 13% of men will experience a hip spine or wrist fracture. Wrist fracture is by far the most common upper extremity injury or fracture in orthopedics. Our company began orthopedics aims to address this problem. We're going to do that by leading medical innovation with new technologies that protect patients improve outcome and reduce costs. For each and every one of our products we focus on safety, innovation and cost effectiveness. The following slide demonstrates radiographic images of orthopedic hardware placed in abnormal locations in very common orthopedic procedures. Each and every one of these procedures required a revision surgery or resulted in a negative impact or outcome for these patients. The final image on the screen this is an elective surgery and a female in her mid 30s. There were two pedicle screws that were placed directly through her spinal cord in her mid thoracic spine. When she woke up from this elective surgery, she was a paraplegic. This is not an uncommon problem. The reason this problem occurs is right now with surgical drilling when you have to have hardware placed, the process is manual and operator dependent. The power tools that surgeon use are less advanced than power tools that you can find at your local hardware store. In addition to that, to measure the size of the hole to place the screw, they place a little tiny hook called the depth gauge down the hole they just drilled, they tried to grab the far side of the bone and literally read a ruler in the operating room. Because of this, this has negative impact on patients in the hospital system. The inaccurate that measurement results in screws that are too long. As you can see in this image on the screen, the drilling process can result in plunging an injury of critical anatomy on the far side of the bone. This results in inefficient operating use time to patients under anesthesia a lot longer. And then because you have to check the hardware in the operating room, there's excess radiation exposure to everyone in that room. This data is ubiquitous throughout orthopedics. The commonality of misplaced screws is 20 to 25%. Think about that, that standard of care. In any other industry, an error rate of 20 to 25% would never be tolerated. For elective orthopedic spine surgeries. neurologic complications are 2.3%. And the number of hardware revisions in the United States alone are 234,000 per year. So our solution to this is not a large expensive robot. What we want to do is empower the surgeon to better care for their patients. So our solution offers augmented surgery, we placed the sensor technology into the power tools that surgeons are currently using to allow them to better care for their patients. Our current products on the market address these needs we have two FDA cleared products. The first is our IntelliSense technology. This is a handheld robotic solution with integrated center technology, we're putting the sensors right in the surgeon's hand. This results in Point of Contact sensing so you can sense the bone as you're drilling. When it breaches the far side of the bone the technology will stop and instantaneously tell the surgeon what size screw they need for that specific hole. Because of this, you can reduce our time and reduce costs to everyone the patient the healthcare system they ensure because you're eliminating an entire step in the operating room and hardware is being placed accurately decreased radiation use and the need for repeat surgeries. As I mentioned earlier, the most common upper extremity fracture or wrist fractures. Our second product that we launched recently is our lever action plate system. The image on the screen is our lever action plate. It's the only patented distal radius plate with three dimensional treatment of risk factors. Because of this, you have near perfect fracture alignment on every surgery. It improves stability and healing and has ease of use with universal applications. We have a long list of products in development. The image you see on the screen is our integrated navigation system. This combines the point of contact sensitive our IntelliSense with visual anatomic recognition to provide enhanced safety especially in spine surgery. Further down the line. We're working on technologies using AI and blockchain for Supply Management as well as to communicate our systems both locally and globally to provide even more feedback even more power into the surgeon's hands. So at this time, I want to talk about our founders and management team. We have an extensive experienced team of founders, as well as management team that are active in the day to day running of our company. In addition, we're supported by a board of advisors with experience across the entire field of orthopedics. Our team is vertically integrated. We have engineering quality systems finance all in house within our company headquarters. In addition were unique. We have our own manufacturers Training, we can control our supply chain. At our manufacturing facility, we can prototype all the way up to final production. We're ISO certified for 1345. And more recently for aerospace manufacturing. We have a hybrid sales team model with regional sales manager supported by distributors, as well as medical education specialist. We have many corporate milestones. The one I want to highlight at the top of the list really is technology. We have over 137 issued and pending patents on this technology platform. We're listed on the Federal Supply Chain meaning we can sell into the military. And we already have several peer reviewed publications from major universities around the country. So now I asked you to join our team, as I talked about earlier, and we saw in the audience, either you have experienced or someone in your family will experience orthopedic surgery, you can make a difference, you can actually be part of that solution that may affect a loved one or someone you know, if you scan our QR code that will take you to our investment page. We currently have a private financing round with a target of $5 million. To date, we've raised over 23 million all through private placements, no institutional funding. We're excited to announce this current round will be closing in the coming months. What we're looking to do is grow our team and really take us to that next level. To do that we are going to be we're we're planning to launch a reggae plus investment round. For those not familiar with the reggae plus we have the potential to raise up to $75 million a year through public solicitation of investment for a private placement offering. This type of funding will allow us to grow our current sales of our current products, as well as commercialize and finalize development of all the products in our product line, which will allow us to be competitive both on the national and global market. This is a very large market, the total market potential is $7.3 billion dollars. Our current products that are already commercialized relevant to this market are the IntelliSense drill and lever action plates. However, as you see on the list there there are numerous products that are in various stages of development, which are also relevant to this very large, lucrative global market. What are some of the potential benefits as an investor? Well, first and foremost, you personally get to be part of this change of standard of care, you can help make surgery you can help make medicine better for everyone. From a financial perspective, we are headquartered in an opportunity zone we are also listed as a qualified Small Business stock, I advise you to consult with your financial advisor if that's relevant to you personally. With these technologies and the degree of innovation, there's significant potential for a return on investment. We have a clear exit strategy. As I mentioned, we want to make the differences as many patients lives as possible. To do that we're positioning for acquisition. Partnering with a strategic partner that already has established sale established clients is the best way to get this technology out there to as many individuals as possible. We're also planning for continued to organic growth in the meantime, as well as looking at public offering or semi public offering through Reg A+ plus specs and a traditional IPO. The next slide is going to be a video clip which highlights testimonial from both patients, as well as surgeons, which really shows the power of this technology.

 

Video Speakers 1  8:10  

The best care is provided by any device that is more precise, saves anesthesia time, saves X ray time, compared to what we've done in the past.

 

Video Speaker 2  8:18  

If you have a device that has the additional safety feature of reducing the risk of surgery, it's a no brainer.

 

Video Speaker 3  8:27  

As patients we have to advocate for change, our stories matter.

 

Joseph McGinley  8:33  

You really can't tell it better hearing it from the surgeons that are using this product hearing it from patients that experience the benefits of these type of products really tells the story. So in summary, our company and products have significant market potential. These are disruptive technology protected by a large IP platform. Each and every one of our products are focused on safety value and efficiency. Again, I invite you to join our team scan the QR code that will take you to our investment page which provides additional information. You can be part of changing the standard of care and making a difference in medicine today. Thank you very much

 

Join us at the next LSI Emerging Medtech Summit

LSI's global events attract top innovators, active investors, and deal-making strategics.

GET INFO

Share this video

Our Clients