Kitchener, Ontario, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Intellijoint Surgical, a leading Canadian innovator in orthopaedic medical technologies, announced today a reduction in its workforce to ensure the company can grow sustainably, become profitable, and remain competitive. Effective immediately, the company will reduce its workforce by 30 roles, the overwhelming majority being in Canada.
“Today we made the difficult decision to reduce our workforce. Since founding Intellijoint in 2010, we have been fortunate to avoid an outcome like today,” said Armen Bakirtzian. “The current market conditions, however, combined with the ongoing challenges of scaling a medical technology business in Canada, are requiring us to streamline our business. This is not a decision we made lightly, but one we had to make to achieve profitability and grow sustainably for the long term.”
Mr. Bakirtzian continues, “I am confident in Intellijoint’s future. Countless more patients, providers, and physicians will benefit from our technology and we have a plan to maintain our aggressive growth. Being in a profitable position next fiscal year is critical to this plan as it enables us to build a stronger, more innovative business with our fantastic partners in Canada and around the world.”
Intellijoint Surgical notified all of the affected employees earlier today. All impacted employees will be supported by Intellijoint and our partners as they seek employment within our ecosystem.
Intellijoint Surgical remains focused on serving its customers, and expects no disruption to daily global operations for continued surgeon and patient success. The company’s commitment to innovation and excellence in orthopedic medical technologies remains steadfast. We remain committed to Canada and the growing health innovation ecosystem in Kitchener-Waterloo.
About Intellijoint Surgical
Intellijoint Surgical® develops and commercializes surgical planning & navigation solutions for total hip and knee joint replacements. It is committed to improving patients’ lives by providing every surgeon with effective, easy-to-use technology. Intellijoint’s technology is used by top orthopaedic institutions and surgeons globally.
PR Contacts
Tim Dutton, Director, Corporate Affairs
t.dutton@intellijointsurgical.com
Lisa Kawalez, Senior Manager, Marketing Communications
