Latest news with #KICVentures
Yahoo
31-05-2025
- Business
- Yahoo
All Charges Dismissed Against Dr. Kingsley R. Chin and His Companies as DOJ Case Concludes
After a multi-year DOJ investigation, all criminal charges against Dr. Kingsley R. Chin and his medical device company, SpineFrontier, have been dismissed, allowing him to focus on transforming spine care and improving patient outcomes. FORT LAUDERDALE, Fla., May 30, 2025 /PRNewswire/ -- All criminal charges have been dismissed against Dr. Kingsley R. Chin and his medical device companies, bringing an end to a multi-year investigation by the U.S. Department of Justice (DOJ). The case began in 2016 after three former employees, acting as whistleblowers under the False Claims Act, triggered a civil inquiry into Dr. Chin and SpineFrontier , the company he founded and led as CEO since 2006. That civil matter was fully resolved in November 2023. In 2021, the DOJ initiated a separate criminal investigation. In early 2025, charges against SpineFrontier were formally dismissed. By May 2025, the DOJ moved to dismiss all remaining charges against Dr. Chin. "All of the charges in the Indictment and Superseding Indictment against Dr. Chin have been or are going to be dismissed, as the case resolved for a lesser charge," stated Dr. Chin's legal counsel in a recent interview. Dr. Chin is a Harvard-trained professor and board-certified orthopedic spine surgeon and a graduate of Harvard Business School. He is widely recognized for pioneering Less Exposure Spine Surgery (LESS™), a philosophy that advances outpatient spine care and empowers physician-led medical innovation. With this legal chapter now coming to a close, Dr. Chin remains focused on transforming spine care and improving patient outcomes through continued innovation and leadership in the medical technology field. About SpineFrontier in 2006, SpineFrontier was built on a foundation of collaboration and innovation. Along with its strategic advisory board of spine surgeons, the company developed a portfolio of Less Exposure Spine Surgery (LESS) technologies designed to improve patient outcomes and simplify procedures for outpatient spine surgery. About KIC in 2013 as the venture arm of Kingsley Investment Company (KIC) LLC, KIC Ventures focuses exclusively on advancing outpatient spine surgery through its Less Exposure Spine Surgery (LESS™) philosophy. With a portfolio of innovative spine technologies and a commitment to empowering physicians, KIC Ventures has become the world's largest private equity firm with a majority-owned portfolio of differentiated spine companies focused on outpatient spine solutions. View original content to download multimedia: SOURCE KIC Ventures Sign in to access your portfolio
Yahoo
21-05-2025
- Health
- Yahoo
Dr. Kingsley R. Chin Leads Landmark Study Published in The Spine Journal Teaching Interventional Pain Physicians the Sacrix® SI Joint Fusion Technique
Published in The Spine Journal – May 16, 2025 | DOI: 10.1016/ FORT LAUDERDALE, Fla., May 21, 2025 /PRNewswire/ -- In a landmark publication featured ahead of print in The Spine Journal , Dr. Kingsley R. Chin—board-certified orthopedic spine surgeon, professor, and founder and CEO of KIC Ventures—has achieved a major breakthrough for the interventional spine community. This multicenter, prospective randomized controlled trial is the first to rigorously evaluate the safety and procedural competency of sacroiliac joint (SIJ) fusion performed by interventional pain management (IPM) physicians trained using the Sacrix® posterior-oblique technique under direct supervision by board-certified spine surgeons. SIJ fusion was traditionally the domain of spine surgeons, typically performed through a direct lateral approach. With the rise of percutaneous techniques, more IPM physicians are adopting the procedure—particularly in outpatient settings—prompting widespread debate around training standards and patient safety. Study Title : A Prospective Multicenter Randomized Controlled Trial on Safety and Procedural Competency in SI Joint Fusion Performed by Interventional Pain Physicians Trained by a Spine Surgeon Study Highlights: 276 patients treated across multiple ambulatory surgery centers 47 IPM physicians trained by Dr. Chin using a standardized surgeon-developed curriculum Two randomized groups: Group 1: Supervised by board-certified spine surgeons Group 2: Supervised by clinical specialists or sales representatives Group 1 Results: 0% complications, deviations, or revisions Group 2 Results: 4.3% complication rate; 2.4% revision rate "This study validates a new training paradigm that empowers IPM physicians to perform SIJ fusions safely and effectively when properly trained by spine surgeons," said Dr. Kingsley R. Chin. "As we move spine surgery into outpatient settings and embrace interventional approaches, surgeon-led education becomes more essential than ever." To date, Dr. Chin and his team have trained over 400 interventional pain physicians in Sacrix® and LESS Exposure Spine Surgery techniques. In 2025, they launched the Visit. Education. Training. (VET) Tour at their headquarters at 6550 North Federal Highway, Suite 510, Fort Lauderdale, FL 33308 . The facility features state-of-the-art operating rooms designed for hands-on cadaver and didactic training, offering physicians the opportunity to: Discuss indications for surgery with expert faculty and key opinion leaders (KOLs) Practice instrument handling and procedural steps Provide real-time feedback on improving technologies This immersive program fosters collaboration between surgeons and IPM physicians to ensure safe adoption of interventional spine procedures in outpatient settings. The publication has received widespread praise from contributors and key opinion leaders: "Wow… thank you so much for letting me be a part of this important study. It's truly an honor to be included among such a talented and dedicated group. You are both a gentleman and a scholar, and I'm grateful for your leadership in pushing our field forward. This publication is a huge win for the interventional pain community and a testament to what collaboration and vision can achieve." — Dr. Paul Ky, Interventional Spine Specialist "As an orthopedic spine surgeon who has trained IPM physicians firsthand, I see this study as a blueprint for the future. It proves we can share techniques safely through structured education and elevate patient care across specialties." — Dr. Erik Spayde, MD, Harvard-Trained, Board-Certified Spine Surgeon The study utilized the Sacrix® system with titanium screw fixation and NanoFuse Biologics—a synthetic, bioactive bone graft. The posterior-oblique approach was designed for reproducibility, safety, and efficiency, making it ideal for ambulatory surgery centers (ASCs) amid rising demand for LESS invasive spine procedures. This publication marks a pivotal step forward in the evolution of interventional spine surgery. It offers a validated framework for bridging the gap between specialties through collaborative, surgeon-led training—ultimately delivering safer outcomes for patients worldwide. About Dr. Kingsley R. Chin:Dr. Kingsley R. Chin is a board-certified orthopedic spine surgeon, professor, and CEO-founder of KIC Ventures . A Harvard-trained physician, he has published more than 90 peer-reviewed scientific articles, holds over 60 patents, and is recognized for pioneering Less Exposure Spine Surgery (LESS™). His leadership bridges innovation, education, and interdisciplinary collaboration to advance outpatient spine care globally. About KIC in 2013 as the venture arm of Kingsley Investment Company LLC, KIC Ventures focuses exclusively on advancing outpatient spine surgery through its Less Exposure Spine Surgery (LESS™) philosophy. With a portfolio of innovative spine technologies and a commitment to empowering physicians, KIC Ventures has become the world's largest private equity firm with a majority-owned portfolio of differentiated spine companies focused on outpatient spine solutions. View original content to download multimedia: SOURCE KIC Ventures Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Malaysian Reserve
24-04-2025
- Business
- Malaysian Reserve
Physicians Aren't Just Using Medical Devices-They're Innovating and Owning Them: Celebrating 25 Years of Surgeon-Led Innovation with Dr. Kingsley R. Chin and KIC Ventures
From the OR to the boardroom, a growing wave of entrepreneurial physicians is reshaping the future of spine surgery and healthcare innovation. FORT LAUDERDALE, Fla., April 24, 2025 /PRNewswire/ — Twenty-five years ago, before 'physician-led innovation' became a trend, Dr. Kingsley R. Chin—a Harvard-trained orthopedic spine surgeon—broke the rules of the legacy medical device world. Surgeons weren't supposed to be owners, founders, or investors. But Dr. Chin charted a different path, building intellectual property, founding companies, and raising capital from fellow physicians to commercialize technologies that improved patient outcomes. Through legal scrutiny, shifting markets, and industry resistance, he forged ahead—demonstrating the adaptability and resilience familiar to every surgeon. Today, KIC Ventures stands as one of the only physician-led healthcare investment firms, and Dr. Chin's story is inspiring a growing movement of doctors who are no longer just using medical devices—they are innovating and owning them. A Surgeon with a Prototype and a Plan It began with a simple idea—a better plate and screw system—and an early exposure to SolidWorks that helped Dr. Chin visualize his designs. The X-Plate was his first foray into product development. But it wasn't until he received his first three patents that he realized: protecting ideas was not enough. They had to translate into real products that solved real surgical problems. Breaking Through with MANTIS That realization led to the MANTIS (Minimal Access Nontraumatic Insertion System) percutaneous pedicle screw. After filing just two patents, interest from Zimmer and Stryker came quickly. MANTIS was ultimately acquired by Stryker before even reaching the market. It was proof that strong intellectual property and clinically relevant innovation could open doors—even for an independent surgeon. The Birth of KIC Ventures Founded in 2005 as Kingsley Investment Company and evolving into KIC Ventures by 2013, Dr. Chin's vision matured from inventor to investor. KIC Ventures was created to give physicians and engineers a seat at the table. While others chased institutional funding, Dr. Chin raised over $20 million directly from physicians who believed in their collective ability to improve spine care. Milestones of Physician-Led Investment 2014 : Acquired AxioMed Corporation, developer of a viscoelastic total disc replacement. 2018 : Acquired NanoFuse Biologics, combining demineralized bone matrix with bioactive glass. 2020s : Expanded outpatient-focused LESS (Less Exposure Spine Surgery) portfolio to include Sacrix, InSpan, FacetFuse, and NanoFuse Biologics. Surgeons + Engineers: A Blueprint for Innovation At KIC Ventures, every innovation starts with a problem in the OR. Surgeons identify the issue. Engineers bring it to life. Together, they test, iterate, and validate—with IP protection and FDA clearance paving the way. It's a repeatable process rooted in collaboration: Identify a real-world clinical problem Design and prototype a solution Perform cadaver and biomechanical testing Protect the idea with patents Achieve regulatory approval Launch and train through peer collaboration Validate with clinical outcomes and peer-reviewed research Honoring the Legacy: Dr. Art Steffee and the Surgeon-Innovator Blueprint Long before today's medtech startups, surgeon-entrepreneurs like Dr. Art Steffee laid the foundation for innovation in spine care. A practicing orthopedic surgeon, Dr. Steffee founded Acromed , developed the first pedicle screw system introduced in the U.S., and created the Acroflex lumbar disc —the world's first viscoelastic disc replacement. His vision and persistence not only advanced spine surgery but also proved the value surgeons bring to innovation. In 1998, Dr. Steffee sold Acromed to DePuy for $325 million, marking one of the most notable physician-led exits in medtech history. 'Dr. Steffee showed us that a surgeon's insight—combined with business acumen—can create enormous clinical and economic value. That legacy inspired many of us to follow his path.' – Dr. Kingsley R. Chin Today, KIC Ventures continues that legacy: We own the next-generation Acroflex design through AxioMed, a monolithic viscoelastic disc rooted in the same principles Dr. Steffee pioneered. We've redefined pedicle screw fixation through FacetFuse, a transfacet pedicle screw system designed to stabilize with less exposure and more precision. As the medtech world turns toward smart devices and outpatient care, the surgeon-innovator model is more relevant than ever. Dr. Steffee's story proves that when physicians lead innovation, patients benefit—and so does the industry. Disrupting the Old Guard The traditional medical device model favored big companies, with surgeons playing a supporting role. KIC Ventures flipped that model. By putting physician-investors in control of design, development, and commercialization, Dr. Chin created a platform where clinical insight drives innovation—not corporate spreadsheets. Resilience, Adaptability, and the Physician Advantage Navigating legal scrutiny, anti-kickback concerns, and waves of market consolidation required more than business savvy. It demanded the same grit and discipline that surgeons apply in the OR. That mindset, along with decades of trust built with peers, gave Dr. Chin and his ventures a durable edge. Looking Ahead: Smart Devices, AI, and the Next Era of LESS As KIC Ventures celebrates 20 years and Dr. Chin marks 25 years since his first IP filing, the firm is accelerating its focus on smart devices, AI-assisted procedures, and next-generation biomaterials. The goal remains the same: reduce surgical exposure, preserve anatomy, and restore function. The Movement Has Begun Physicians across the country are realizing they can be more than users—they can be owners and innovators. Dr. Chin's journey shows what's possible when doctors step into the arena, embrace entrepreneurship, and build innovations that serve both their peers and their patients. About Dr. Kingsley R. Chin Dr. Kingsley R. Chin is a Harvard-trained orthopedic spine surgeon, entrepreneur, and CEO of KIC Ventures. He completed his spine fellowship with Dr. Henry H. Bohlman, served as Chief of Spine Surgery at the University of Pennsylvania, and has since pioneered the Less Exposure Spine Surgery (LESS) technique. With over 60 U.S. patents, he is recognized for his contributions to spine surgery innovation and medical entrepreneurship. About KIC Ventures. Founded in 2013 as the venture arm of Kingsley Investment Company LLC, KIC Ventures focuses exclusively on advancing outpatient spine surgery through its Less Exposure Spine Surgery (LESS) philosophy. With a portfolio of innovative spine technologies and a commitment to empowering physicians, KIC Ventures has become the world's largest private equity firm with a majority-owned portfolio of differentiated spine companies focused on outpatient spine solutions.
