There is a sea change happening in ortho. (Sorry. It's a long article - 8 minute read, but its a must read if you are leading an ortho company today).
Most orthopedic companies still think the game is a better implant or better procedure.
Yesterday a company most of you have never heard of raised $22.5 million proving it is not.
Hike Medical [https://www.hikemedical.com/ ] did not get funded for a new stem, a new anchor, or a 510(k) that took eighteen months. They got funded to own the ugly stretch between referral and a paid device on a patient’s body. Custom insoles. Diabetic shoes. Paperwork. The part of the industry Big Ortho treats as unsexy—and the part where the money actually leaks.
If you have been writing the 1998 playbook—surgeon idea, machined widget, rep with a tray—you are already late. Capital has voted. Process is the product. Business model beats hardware.Read this. Then look at your own slide deck and ask the only question that matters in late 2026: if you took the implant off the page, would anyone still fund the company?
Let's dive in.
Hike Medical raised a combined Seed and Series A led by Max Altman at Saga Ventures. Indicator Ventures, Fifth Down Capital...
