Every year in Australia, more than 50,000 hip replacements are performed.
In the United States, this number is more than 500,000.
After these surgeries, post-operative dislocations are the second most common reason for a revision to a total hip replacements, and data has shown that less than half of the acetabular cups during these operations are accurately aligned when using manual instrumentation.
A Sydney-based tech company is looking to solve these painful and expensive complications for patients with a simple tool that’s the size of a small carton.
Navbit is an Australian medtech startup aiming to use technology to reduce the risk of post-operative dislocation in hip replacement patients.
Its flagship product, Navbit Sprint, is a compact, single-use surgical device that helps to enable the accurate positioning of the acetabular cup during a hip replacement surgery. The product, which is the size of a small carton, is far quicker and simpler to use than other offerings, and functions as a simple add-on rather than a whole new product.
And unlike its competitors, whose offerings are bigger and bulkier, the Navbit Sprint can be used by hospitals of all shapes and sizes, and all surgeons, regardless of their surgical volume.
“In the past, surgery was more art than science,” Navbit founder and orthopaedic surgeon Professor Bill Walter said.
“Today we have higher expectations around the accuracy and precision of our surgery. Outliers are becoming less acceptable to surgeons and to patients. Surgeons will have to answer the question: if there is a technology available that can make you more accurate, why are you not using it?”
Navbit Sprint is a finalist in the InnovationAus 2024 Awards for Excellence in HealthTech. You can secure your tickets to the black-tie gala event here.
Navbit has been operating for seven years, and is based in Sydney’s National Innovation Centre. Across this time, the company has transformed its patent-protected medical device technology into a fully commercialised product.
It began selling Sprint in Australia in 2021, and in 2023 signed an exclusive distribution deal with British medical technology giant Smith+Nephew.
Earlier this year, Navbit and Smith+Nephew signed another exclusive distribution agreement. Smith+Nephew is the fourth largest orthopaedic multinational operating in the joint replacement space.
This partnership has made Navbit Sprint available through Smith+Nephew in Japan and Australia.
The company has also secured a $1 million grant through the federal government’s Accelerating Commercialisation program, along with funding from the Boosting Female Founder scheme and an Export Market Development Grant, along with funding from Johnson & Johnson MedTech.
The orthopaedic technology market is currently dominated by four major companies, which together control 80 percent of all implement sales around the world.
Navbit plans to have a symbiotic relationship with these major players, developing products that can meet their technology pipelines.
These large companies are looking to incorporate cutting-edge technology in their offerings, and this often involves acquiring the tools developed by smaller startups, such as Navbit.
Looking for brand exposure in front of Australia’s tech ecosystem? Purchase a table of 10 for the InnovationAus 2024 Awards for Excellence and have your logo displayed on screens across the venue and in the event programme as a table sponsor.
The InnovationAus 2024 Awards for Excellence are supported by: Australian Computer Society, Investment NSW, Department of Industry, Science and Resources, Technology Council of Australia, TechnologyOne, National Artificial Intelligence Centre, CSIRO’s ON Innovation Program, Reason Group, Q-CTRL, University of New South Wales, and IP Australia.
Protecting your great ideas with intellectual property (IP) rights can lead to lasting benefits for your growing business. IP refers to creations of the mind, such as a brand, logo, invention, design or artistic work. Head to the IP Australia website to find out more about IP, and how it might help your business.
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