Arthroscopy, a minimally invasive surgical technique, is used to treat over 50 million injured wrists, elbows, shoulders, spines, hips, knees and ankles around the world each year. 

But Dr Chris Jeffery, CEO of Brisbane-based MedTech company Convergence Medical, says the complexity of arthroscopic procedures places a physical and mental burden on even the most skilled surgeons, which can lead to ‘iatrogenic trauma’ – unintended damage to patients caused by medical treatment.

That’s why Dr Jeffery – an ex-Army engineer, medical doctor and serial entrepreneur with a history of successful medical device developments under his belt – has turned his attention towards developing the world’s first arthroscopic surgical robot. 

“Our goal is to transform arthroscopic surgery for the better,” he says. “Our world-first system, the V01 Arthroscopic Surgical Robot, implements innovative designs to improve dexterity, precision and functionality, creating a way to perform these procedures faster and with improved surgical outcomes.” 

The V01 incorporates virtual reality technology to immerse surgeons directly into the joint space, improving visibility, along with three halo-mounted, high-precision robotic arms capable of performing a wide range of surgical actions. 

Developed with a team of doctors and engineers, the V01 springs from Dr Jeffery’s interest in the integration between humans and robots. Initial testing shows that the robot can execute simulated activities four times quicker than manual alternatives, with a 30-times increase in precision. 

“The last couple of years have been very busy for Convergence Medical,” Dr Jeffery says. “After our pre-seed investment round in December 2022, we were able to build our demonstration robot, which allowed us to display how robots can improve minimally invasive surgery. 

“That enabled us to secure our seed funding, which was heavily based in Brisbane, but anchored by a San Francisco venture capital firm. From there, we could do testing to show that our vision was meaningfully and significantly better than the current standard of care.”

This, in turn, enabled Convergence Medical to secure a place in the US Food and Drug Administration’s (FDA) Breakthrough Devices Program. 

“Breakthrough designation is only given to products that are considered truly transformational,” Dr Jeffery says. “That designation gave us our path to market, which is the path we’re on now.” 

The fast lane

In January 2024, Dr Jeffery presented to hundreds of seasoned investors from around the world at the JP Morgan Redefining Early-Stage Investment (RESI) Conference in San Francisco. Convergence Medical was one of 50 companies from around the world chosen to take part in the Innovator’s Pitch Challenge, a focal point of the conference, and ultimately took out the silver award.

Convergence attended the conference as part of Brisbane Economic Development Agency’s (BEDA) MedTech Global Accelerator program, which supports Brisbane-based health businesses to fast-track their connections with international partners for collaboration, investment and distribution deals. 

“The team at BEDA have really gotten behind our business, and they’ve been our champions,” Dr Jeffery says. “They’ve opened up doors for us and helped us start conversations on the biggest stages. For example, participating in the JP Morgan RESI Conference led to conversations with about 40 US investors, and it helped us grow a support team of about 30 surgeons in the US to further validate the problem that we’re solving and create a pathway to market. 

“Without BEDA and their enthusiasm, their support and their encouragement, I don’t think that could have happened as fast or as organically as it has.” 

Dr Jeffery says BEDA’s support has played a pivotal role in helping Convergence Medical to overcome challenges that often prove too much for businesses in their early stages. 

“When you’re building a company – whether that’s a MedTech start-up or any other type of company – and you’re attempting to do something that hasn’t been done before, barriers pop up everywhere along the way that you could never have anticipated,” he says. 

“What I love about BEDA and the MedTech Accelerator program is that they get in the trenches with us. As well as being a strong advocate for our business, we can throw ideas at them and troubleshoot problems together – problems that would be insurmountable for other companies. They’re always there to help us work through our plans and strategies, push through barriers and find the optimal path forward for achieving our business objectives.” 

Dr Jeffery, who obtained both his medical degree and a Graduate Certificate in business, management and marketing from the globally recognised University of Queensland, points to Brisbane’s world-class health sector as another factor in the company’s decision to remain local. 

Brisbane is now home to the largest health cluster in the Southern Hemisphere, with 160 clinical trials sites and 40 contract research organisations. The city’s skilled workforce and innovation ecosystem has given health businesses the foundations to commercialise and scale – and as a result, Brisbane’s health sector is one of the fastest growing in Australia. 

The sector has seen 5.4 per cent per annum growth over the last decade, outstripping Sydney and Melbourne. Health exports from Brisbane grew by 116 per cent in the decade between FY2013 and FY2023, far outpacing the national average of 17 per cent, and the city’s health sector has a growth forecast of 36 per cent by 2031.

“When I think about Brisbane, I think about accessibility,” he says. “We’ve got great universities with amazing researchers, producing talented graduates every year with strong technical abilities. We’ve got hospitals like Princess Alexandra and Royal Brisbane that are passionate about translating scientific solutions to the medical industry, and we’ve got the Translational Research Institute (TRI), which is a leading medical research, development and translation facility. 

“In the Port of Brisbane, we’ve got a perfect point of connection with the rest of the world, so we can grow a global footprint when we’re ready to launch. And we’ve got a supportive ecosystem of high-value companies and emerging start-ups that are passionate about connection and collaboration.

“So if the question is, ‘Why stay in Brisbane?’, then my answer is, ‘Why would we ever want to leave?’ We’ve got all the resources we need here to create meaningful and innovative solutions and improve the future.” 

On the verge 

Having earned its place in the FDA Breakthrough Devices Program, Convergence Medical is now targeting 2025 to commercialise its arthroscopic surgical robot. 

“Throughout the rest of 2024, we’ll be finishing off the pre-market development of the V01, and completing our verification and validation testing,” Dr Jeffery says. “Over the next 12 months, we’ll obtain our FDA clearance to be able to go to market. 

“Convergence Medical has a global focus, and we’ll eventually be seeking to commercialise our robot around the world. With the US being the largest medical device market in the world, that’s obviously our primary focus for the commercialisation of the platform, but we expect Australia to be an important market for us in the future.” 

As a first mover in arthroscopic robotics, Dr Jefferey acknowledges that the company’s competitive advantage is in being the first to market – but that’s not how they’ll stay on top. 

“We plan to stay ahead of the curve by keeping our eye on the ball and owning our problem,” he says. “We’ll do this by connecting with surgeons around the world to see how our solution is improving their outcomes, and what problems are left outstanding in the field of arthroscopic surgery that we can work towards solving in the future, so we can just keep making this industry better, and keep making these procedures more effective for people in need of treatment.”