Blue Belt Technologies

Blue Belt Technologies was a medical device company that originated as a spin-off from Carnegie Mellon University's Robotics Institute in 2003. The company was founded by Carnegie Mellon robotics researchers Craig Markovitz, Branko Jaramaz, and Anthony DiGioia III. Markovitz, with an MBA in Entrepreneurship, served as the initial CEO, leading the company's launch, capital raising, and operations. Jaramaz, who holds a doctorate from Carnegie Mellon, took on the role of Chief Technology Officer.

The company's core focus was developing robotics-assisted technologies to improve precision in orthopedic surgery. Its flagship product was the Navio surgical system, a handheld, computer-assisted, robotic bone-shaping tool. The Navio system was designed to provide surgeons with a high degree of accuracy for implant placement without the need for pre-operative CT scans. It functions by creating a 3D digital model of the patient's knee in real-time during the procedure, allowing the surgeon to plan the surgery and precisely remove damaged bone with the robotic handpiece. The business model included the sale of the Navio system as capital equipment to hospitals and ambulatory surgical centers, along with revenue from disposable components for each procedure and annual service contracts.

A significant milestone for Blue Belt was receiving its first FDA 510(k) clearance in December 2012 to market the Navio system, followed by clearance for its STRIDE Unicondylar Knee implant system in June 2013. Initially focused on partial knee replacements, the company had a development pipeline to expand the technology's application to total knee replacements, hip arthroplasty, and sports medicine. Blue Belt maintained an open platform approach, allowing its Navio system to be used with implants from various manufacturers, including a partnership with DePuy Synthes. This strategy widened its market reach. In October 2015, in a strategic move to enter the growing surgical robotics market, global medical technology firm Smith & Nephew announced its acquisition of Blue Belt Technologies for $275 million. At the time, Blue Belt's annual revenue was approximately $19 million, with projections of over 50% growth. The acquisition was officially completed in January 2016.

Keywords: surgical robotics, orthopedic surgery, medical device, Navio surgical system, robotic-assisted surgery, knee replacement, computer-assisted surgery, bone sculpting, partial knee replacement, medical technology, Smith & Nephew, Carnegie Mellon University, Craig Markovitz, Branko Jaramaz, unicondylar knee replacement, handheld robotics, CT-free navigation, surgical instrumentation, minimally invasive surgery, arthroplasty