Joseph McGinley Presents McGinley Orthopedics at LSI USA '23

Transcription

Joseph McGinley  0:05  

My name is Joe McGinley, I'm the founder and CEO McGinley Orthopedics. I'm going to be here to talk to you about a couple things. First, our company, McGinley Orthopedics currently has an open investment round. Looking at sorry, can we go back one slide, we have an open Regulation A plus investment round, we're raising 40 million to fund our company and bring it forward. We've had success in the past, we have 130 patents, we have two FDA cleared products on the market that are being used across the country. We're vertically integrated, we have no debt. And then most recently, just this morning, we signed an agreement with SDS Capital representatives on our exit strategy. Why are we doing this? Well, it's gonna be about patients, the story of our company, and really why we're here today is going to be focused on patients. And I'm going to highlight that as we go through the presentation today. And then finally, a little bit about myself. I'm both an engineer and a physician. But a lot of people don't know this in my spare time. I'm a mountaineer. And they may say, why why do you do that? What are you doing? I've climbed five of the seven summits. And I'm currently preparing to leave for Everest on April 30. And I'm going to tie that into what we're doing here today. So what matters in mountaineering really counts in surgery. So when I'm preparing for that mountain, it starts with details, you're getting set up, you're getting your gear prepared, if you miss just one thing, it's gonna be painful on that mountain. When you're there, you have to be focused, you can't, you know, say I'm tired. I don't want to do this today. Because the mountains not going to forgive you for that. So when you're climbing, the mountain precision counts, and the stakes matter, you have to know where your hands that you have to know your feet, you have to know what gear you have, you can't put the gear on and correctly have to make sure everything's tied correctly. Because when you go out there, and it's minus 30, minus 40, if you make a mistake that can be life or death. So for our company, McGinley Orthopedics, we focus on precision, we take that into account that it can be myself, it can be a family member, it can be our friends in that operating room. And we want to create products that make a difference. Believe it or not, right now in orthopedics. The power tools they use are less advanced than what you find in the hardware store. We want to change that we want to use sensor enabled technology to make the surgeries better to improve this precision. We want to make sure these mistakes don't happen. We want to make sure every hand placement is correct, both on the mountain and in the operating room. So precision results in success. Our company has enjoyed quite a bit of success over the past several years. As I mentioned, approximately 130 issued and pending patents. Technically five products in the market in two product categories FDA cleared, we have in house manufacturing, engineering quality systems finance, we have our own machine shop, we can make and produce our own products right here in the United States. We have six additional products in the pipeline, including one we're planning to launch this coming September. So if you look at the problem we're addressing this is common orthopedics. This happens in operating rooms all across the country, in every city in every town. Anytime a surgeon is placing a hardware for broken bone or drilling through bone, our technology is irrelevant. But let's let's actually dive into the numbers and statistics. So qualitatively, we surveyed a large group of surgeons at a major orthopedic meeting. We asked them in the past six months, do you recall hardware being misplaced? Believe it or not 53% of them admitted to recalling the hardware misplacement. The other 47% maybe didn't want to tell us but 53% admitted to that in the survey. Now, if you take that a little bit further and let's look quantitatively if you look in the literature, numerous studies, innumerable studies in all areas of medicine, including orthopedics, one in five surgical screws are missed, or misplaced either too long or too short. Imagine that in any other industry. Imagine that if you purchased your car and they said, you know, one out of five screws probably aren't going to be on this car correctly. How would you feel about that? Imagine on the mountain if you had a 20% failure rate on your decisions on that mountain. I'd be standing here missing fingers and toes I tell you that right now with that type of error rate, but unfortunately that's considered standard of care and it's not because the surgeons are bad is because they're limited by the technologies that they have. The technologies in most orthopedic surgeries haven't advanced much in the past several decades. So we looked at this independently we got a group of surgeons and we said okay with plunging How far do you plunge through bone. This study was done at USC published peer reviewed publication. The average plunge with them known they are being measured with 6.3 millimeters. That's a spinning drillbit going through the far side of the bone 6.3 millimeters. Large number of surgeons participated in that study. So our precision story is a real story. This is the story of our start. This is a napkin sketch. This represents our original product design myself, our co founders, Dr. Scott COEs and Scott Porter, we had a dinner meeting. We had a real patient that had a screw that was too long that ended up tearing a tendon on the far side of her hand unfortunately this is a pediatric patients 16 year old we said we can do better we can take a concept such as sensor embedded technology and improve this in orthopedics. Literally that night. My backgrounds engine mirroring I sketched this out on a napkin at the restaurant that night. This is a replica because believe it or not, our napkin sketch still has sensitive technology drawings on there. So this is a replica that drawing, but really it does start with your stereotypical napkin sketch that night. This is what it resulted in our IntelliSense handheld robotics or IntelliSense drill. This system has sensor embedded technology, it senses bone is it's drilling automatically stops when it breaches the bone and it tells a surgeon what size screw they need accurate two tenths of a millimeter, like I said, approximate over 100 patents on this on this type of technology. This will work with any surgeon in any type of bone, very sensitive to tenths of a millimeter. Some of the features, they have a touchscreen controller, so you can actually scroll back through the anatomy, edge detection, we have integrated surgical lighting again, you find that at the hardware store, but we have a patent on that for orthopedics, real time depth measurement, and then auto stop for safety. Our second product, our lever action plate system, again, we took engineering concepts to fix essentially what is the most common fracture out there, that's a risk factor. With this type of technology, this type of engineering, you can dial in those fracture fragments and get an exact restoration of the articular surface in every single case. So again, we took a concept such as the blade technology, you can use this plate as your standalone plate or place the blades in there and then reduce those fragments individually or together. So getting back to the patient, this is Jan Campbell, if you go to our website, you'll see her whole story. This is an unfortunate situation a common one though. So Jan was out at the dog park got hit by a dog that was running in the dog park ended up breaking her leg. She went to the hospital ended up having surgery. This is her lower leg X ray, they put a plate and several screws on there. everyone that's watching can see pretty much every one of those screws was too long. The measurements on the screws, though the longest was two centimeters beyond the bone cortex. This resulted in severe pain, she couldn't walk. She was out of work for a year she was on pain meds, she couldn't go watch her kids play hockey. She literally was every step she took, she felt like those screws were ripping through her tissues. So once we saw this, we're able to get her into the operator and they got that replaced. And within a week she was back to normal activities. The problem is this should have never occurred. If sensing technology was used those screws would have been the exact length. This problem would have occurred and Jan would not have been disability dated for over a year. Our technology was recognized by Vizient. Just last month, I received an innovative technology supplier contract from vizient. So they recognize the innovation and how this can help their patients within their healthcare system. For a startup company of our size, this this was a major milestone, we're already listed on the federal supply chain. But getting access to Vizient members reduces a lot of that red tape for a startup company to be able to sell into these facilities. This is a big market $2.7 billion market. We have a map of where we're located in the yellow states. And that continues to expand pretty much on a weekly basis. We have several hospitals coming online today. As far as milestones, we've raised 26 million we're debt free, we're vertically integrated. We're on the federal supply chain, we're listed on vizient. And we're currently raising funds to support the growth effort to commercialize our additional products, as well as to bring these products to market that we currently have and penetrate the market and raise revenue. A little bit of details on the Regulation A plus offering currently our share price is 525 A share anyone can invest the beauty of the reggae plus is essentially it's a mini IPO, it's open to anyone we're still a privately held company, you are buying shares within the company itself. So right now 525 A share just $100 minimum in April late April, we are going to be increasing that share price to 550 with the $1,000 minimum. Another great aspect of the reggae plus is we can offer a bonus share. So at a threshold of $5,000 or more, you start getting increments of bonus shares for investing in the company. It's easy to do being go to invest that McGinley orthopedics.com, you can scan the QR code, very easy to go through, look at the offering circular, plenty of videos online plenty of surgical videos as far as our products being used in the operating room. So appreciate everyone listening to the presentation today. Really, we're focused on patients and patient care. As an engineer and as a physician, it's really a privilege to be able to make a difference in patients lives. As a physician, you get to take care of one patient at a time. It's the patient that's right in front of you the patient that's in the ER. However, when you take engineering concepts and apply them to products being used in the ER, you get the you get the opportunity to help 1000s If not 10s of 1000s on a daily basis. That's changing standard of care. That's McGinley orthopedics, and we hope that you'll join our team and invest in our offering. Thank you very much