02 Dec Lazurite™ and Hospital for Special Surgery Announce a Collaboration Agreement Focused on Lazurite’s ArthroFree™ Wireless Surgical Camera System

CLEVELAND–(BUSINESS WIRE)–Medical device and technology company Lazurite and Hospital for Special Surgery (HSS), the world’s leading academic medical center focused on musculoskeletal health, today announced a new collaborative relationship based on Lazurite’s ArthroFree™ Wireless Surgical Camera System, the first wireless surgical camera system to receive market clearance from the U.S. Food and Drug Administration for arthroscopy and general endoscopy.

Through the HSS Innovation Institute, HSS and Lazurite will collaborate to advance surgical technology and techniques, including evaluation of specific aspects of ArthroFree and potential co-development of new arthroscopic technologies. HSS will conduct training sessions at the HSS Simulation Learning and Training Center and may also work with Lazurite on the co-development of future technologies that leverage the ArthroFree wireless camera and proprietary Meridiem™ light technology.

By eliminating conventional camera cables that tether surgeons to the surgical tower and hinder their movement, the ArthroFree System is expected to increase OR efficiency, improve OR safety and lower customer costs. With its solid-state, low-heat, high-efficiency Meridiem light technology, the system also promises to eliminate camera-related patient burns and OR fires. The modular system is designed to be drop-in compatible with existing patient data consoles, surgical displays and endoscopes found in minimally invasive operating rooms.

“HSS is excited to collaborate with Lazurite to evaluate the ArthroFree Wireless Surgical Camera System, provide insights into a next generation of the existing device, and potentially co-develop other medical device products utilizing this technology,” said Michael P. Ast, MD, Chief Medical Innovation Officer and a joint replacement surgeon at HSS. “As HSS physicians and innovators, our goal of continuously improving patient care and outcomes includes identifying and pursuing new technologies and developing partnerships that leverage HSS’s expertise and innovative spirit with cutting-edge industry advancements to drive new innovation forward.”

“Given HSS’s substantial capabilities in research, including the experience and expertise of its medical staff and the volume of orthopedic surgeries performed there, we believe that HSS is a great partner to conduct the various non-clinical assessments and other collaborations outlined in the agreement,” said Lazurite Board Chair Mark Froimson, MD.

“We’re pleased that a world-class clinical organization like HSS sees the potential for the ArthroFree System to become the standard of care in the minimally invasive OR,” Lazurite President and General Counsel Leah Brownlee said. “HSS has been a pioneer in orthopedic research and innovation for decades. The hospital performs more than 32,000 surgical procedures annually, including more hip surgeries and more knee replacements than any other hospital in the country. We believe this will be a beneficial experience for both HSS and Lazurite.”

About HSS

HSS is the world’s leading academic medical center focused on musculoskeletal health. At its core is Hospital for Special Surgery, nationally ranked No. 1 in orthopedics (for the 13th consecutive year), No. 3 in rheumatology by U.S. News & World Report (2022-2023), and the best pediatric orthopedic hospital in NY, NJ and CT by U.S. News & World Report “Best Children’s Hospitals” list (2022-2023). In a survey of medical professionals in more than 20 countries by Newsweek, HSS is ranked No. 1 in orthopedics for a third consecutive year (2023). Founded in 1863, the Hospital has the lowest complication and readmission rates in the nation for orthopedics, and among the lowest infection rates. HSS was the first in New York State to receive Magnet Recognition for Excellence in Nursing Service from the American Nurses Credentialing Center five consecutive times. An affiliate of Weill Cornell Medical College, HSS has a main campus in New York City and facilities in New Jersey, Connecticut and in the Long Island and Westchester County regions of New York State, as well as in Florida. In addition to patient care, HSS leads the field in research, innovation and education. The HSS Research Institute comprises 20 laboratories and 300 staff members focused on leading the advancement of musculoskeletal health through prevention of degeneration, tissue repair and tissue regeneration. The HSS Innovation Institute works to realize the potential of new drugs, therapeutics and devices. The HSS Education Institute is a trusted leader in advancing musculoskeletal knowledge and research for physicians, nurses, allied health professionals, academic trainees, and consumers in more than 145 countries. The institution is collaborating with medical centers and other organizations to advance the quality and value of musculoskeletal care and to make world-class HSS care more widely accessible nationally and internationally. www.hss.edu.

About Lazurite

Lazurite is a medical device and technology company. Its ArthroFree™ System—the wireless camera for arthroscopy and general endoscopy—is designed for surgeons seeking surgical tools for greater agility in the OR. ArthroFree is drop-in compatible with current OR technologies, and it promises to eliminate cable-related patient burns, OR fires, and staff trips and falls. With the ArthroFree System, Lazurite ushers in the wireless era of surgical visualization. Lazurite’s intellectual property portfolio also includes the low-heat Meridiem light technology and products in development. The pre-revenue company is located in Cleveland, OH (est. 2015), and to date has raised ~$25M from institutional investors, family offices, and more than 75 physician champions. The mission: solve impossible problems to improve people’s lives. The 10-year vision: better outcomes for 10 million patients—and thousands of clinicians, too. For more information, see: https://lazurite.co.

Forward-Looking Statements

This press release includes “forward-looking statements.” Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” “may,” “should,” “will,” “designed,” “milestone,” “promises,” and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding the expected impact of the ArthroFree System on the field of minimally invasive surgery, and particularly arthroscopic surgery, and our future sales of the ArthroFree System. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Lazurite™, ArthroFree™, and Meridiem™ are trademarks of Lazurite Holdings LLC.

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Contacts

Patrick Gallagher
+1 (216) 233-7473
p.gallagher@lazurite.co

Lazurite:
+1 (833) 214-4234
contact@lazurite.co

SOURCE: Lazurite, Business Wire, November 29 2022.

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