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§ Private Profile · Alpharetta, GA, USA
Developer of synthetic cartilage implants and orthopedic solutions for foot and ankle surgeons treating osteoarthritis.
Based in Alpharetta, Georgia, Cartiva develops synthetic cartilage implants and specialized orthopedic solutions designed to treat joint conditions such as osteoarthritis in the big toe. The company's flagship product is a proprietary synthetic cartilage implant that mimics natural human cartilage function, which successfully received pre-market approval from the FDA in July 2016. Prior to its eventual corporate exit, the medical device manufacturer grew to a total headcount of 36 employees and marketed its clinical products to foot and ankle surgeons across the United States, Europe, Canada, and South America. The enterprise raised $22.81 million in venture funding across six rounds from institutional investors including New Enterprise Associates, Windham Venture Partners, and Silicon Valley Bank. In August 2018, the business was officially acquired by Wright Medical for $435 million. Cartiva was founded in 2011 by Eman Magdy.
Cartiva has raised $23.5M across 4 funding rounds.
Cartiva has raised $23.5M in total across 4 funding rounds.
Cartiva has raised $23.5M across 4 funding rounds. Most recently, it raised $9.0M Series E in January 2017.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jan 1, 2017 | $9M Series E | Justin Klein | Vensana Capital, Windham Venture Partners | Announced |
| May 1, 2015 | $9M Series D | NEW Enterprise Associates | Vensana Capital, Windham Venture Partners | Announced |
| Jan 8, 2014 | $1.5M Debt Financing | Andrew Rico | — | Announced |
| Jul 1, 2013 | $4M Series A | Justin Klein | Vensana Capital | Announced |
Cartiva has raised $23.5M in total across 4 funding rounds.
Cartiva's investors include Justin Klein, Vensana Capital, Windham Venture Partners, New Enterprise Associates, Andrew Rico.
Cartiva, Inc. is a medical device company that developed the first FDA-approved synthetic cartilage implant (Cartiva SCI) for treating osteoarthritis in the great toe joint, offering a joint-preserving alternative to fusion surgery with pain reduction and improved mobility.[1][2] The implant, made from polyvinyl alcohol hydrogel mimicking natural cartilage, serves orthopedic surgeons and patients with cartilage damage or osteoarthritis, addressing the limitations of traditional metal fusion by preserving natural joint motion.[1][2][5] Backed by $24-35 million in funding and 28 patents focused on arthritis treatments, Cartiva raised revenue to about $5 million before its acquisition, though it later faced implant recalls due to degradation issues leading to pain and revision surgeries.[1][2][3]
Cartiva originated from research at Georgia Tech by David Ku, a 61-year-old professor of mechanical engineering, engineering entrepreneurship, and surgeon, who developed polyvinyl alcohol material initially for artificial blood vessels to study blood flow.[2] His students' work led to a company acquired by Carticept Medical Inc. in 2008, which spun off Cartiva Inc. in 2011 in Alpharetta, Georgia.[1][2] Early traction came from FDA approval of the Cartiva SCI implant, supported by the largest clinical study for great toe osteoarthritis, with venture backing from New Enterprise Associates, Windham Venture Partners, and Domain Associates.[1][2] The management team included orthopedics experts experienced in device development, trials, and commercialization.[1]
Cartiva rode the trend toward joint-preserving orthopedic implants amid rising osteoarthritis prevalence, driven by aging populations and demand for alternatives to fusion surgeries that limit mobility.[1][2] Timing aligned with FDA approval enabling commercialization in a musculoskeletal market needing durable, cartilage-mimicking biomaterials, influencing medtech by pioneering hydrogel applications beyond contacts lenses.[2][4] It spurred competition and innovation in arthritis treatments while highlighting regulatory and accountability challenges, as recalls exposed device failure risks, prompting lawsuits and scrutiny on manufacturing defects in the medical device ecosystem.[3]
Cartiva was acquired by Wright Medical Group NV, integrating its technology into a larger orthopedics portfolio focused on motion-preserving solutions.[6] Post-acquisition, challenges emerged with a recall of remaining implants due to high failure rates, degradation, pain, and revision needs, leading to litigation alleging withheld risks.[3] Looking ahead, Wright may refine the platform for new indications like thumb or ankle arthritis, shaped by trends in biomaterials and personalized implants, though legal and safety hurdles could temper expansion—ultimately underscoring the high-stakes balance of innovation and patient safety in medtech.[1][2][3][6] This evolution from Georgia Tech spinout to acquired asset with recalls ties back to Cartiva's core promise of transformative cartilage repair, now tested in real-world accountability.