When Steven Goldberg, MD, created his shoulder implant, the industry rejected him, but he continued on and went into business for himself, creating Catalyst OrthoScience. BusinessObserver chronicled Dr. Goldberg's journey
What you should know:
1. Dr. Goldberg created a shoulder implant that was less invasive, required less trauma to surrounding bone and tissue, and could be placed in half the time. Although several orthopedic companies liked the idea, they all rejected the concept.
2. Dr. Goldberg turned to medical equipment executive Brian Hutchison, and the two formed Catalyst OrthoScience in 2014.
3. Now five years later, the company's Catalyst CSR system has been used in more than 1,000 shoulder replacements and secured $12.7 million in a series C-1 financing round.
4. Dr. Goldberg is cherishing the success. The company believes the device has the potential to reach around $50 million in sales before it could be acquired. Catalyst officials are also considering going public to raise more funds.
Read the entire profile here.