Active Implants Corp. Raises $10M to Expand Hip, Knee Segments

Active Implants Corp., based in Memphis, Tenn., has raised $10 million from stock offerings to advance its products in the hip and knee segments of the orthopedic markets, according to a report in the Memphis Business Journal.

This news comes less than a month after the orthopedic device manufacturer named a new CEO, Michael R. Mainelli Jr.

“This new financing enhances our ability to move forward toward achieving our development, clinical, regulatory and early commercialization milestones,” said Active Implants Mainelli Jr. to the business journal.

Active Implants is an orthopedic device maker that specializes in polymer technologies for the bearing surfaces of hip and knee products.