Hospital for Special Surgery and Deerfield Management Join Forces in Alliance to Amplify Mobility in Athletics, Aging, and Everyday Life

Hospital for Special Surgery (HSS), the world's leading academic medical center focused on musculoskeletal health, and Deerfield Management Company, a leading investment firm dedicated to advancing healthcare, today announced the launch of the Alliance for Innovation in Movement (AIM), an effort that aims to combine HSS's clinical, research, and innovation experience across orthopedics, rheumatology, sports medicine, and related disciplines with Deerfield's deep investment, healthcare operations, research and development (R&D), analytics, and artificial intelligence (AI) infrastructure.

AIM is designed to operate as an engine driving the development of novel medical devices, therapeutics, AI-enabled software, and other compelling innovations that improve movement, performance, patient care, and healthy longevity. The alliance will seek to unite traditional R&D capabilities like prototyping and engineering with the operational know-how, regulatory experience, and real-world validation with a focus on high-impact technologies in the musculoskeletal health and rheumatology market. HSS has specialized in these fields for more than 160 years.

Half of American adults experience a musculoskeletal health issue at some point in their lifetimes, and that percentage is expected to rise with the aging of the Baby Boomers. Musculoskeletal conditions are the leading cause of disability in the United States, degrading quality of life and creating a significant socioeconomic burden with healthcare costs approximating $420B in 2018. The prevalence of musculoskeletal conditions rises sharply with age, and as older adults become increasingly physically active, researchers predict a 123% increase in sports-related injuries in adults 65 and older through 2040. Fifty-six percent of Gen-Zers consider fitness a "very high priority," and with their growing focus on healthspan, report a willingness to spend 110% more than Baby Boomers in exchange for a year of healthy life. Meanwhile, athletes, sports teams, and sports leagues are also looking for innovative solutions for injury prevention, diagnoses, and treatment. The NFL alone incurred $500M in costs due to musculoskeletal injury during the 2019 season.

"HSS represents one of the world's largest concentrations of expertise in musculoskeletal health, known to advance the highest-quality care and quality of life so that people can get back to doing what they need and love to do most reliably and efficiently," said Bryan Kelly, MD, MBA, President, CEO, and Surgeon-in-Chief Emeritus of HSS. "We believe that combining forces with Deerfield provides us with a powerful new avenue to fulfill that mission by co-developing and supporting innovations that carry the potential to change clinical practice, patient outcomes, and overall quality of life for the better."

HSS's academic rigor and clinical leadership is bolstered by an expansive global network of orthopedic surgeons, physician-scientists, specialists, and entrepreneurs who make up a nexus and magnet for innovation across all aspects of the continuum of care, while Deerfield brings a comprehensive platform of operational capabilities in healthcare built over decades, including a team of over 180 professionals, many of whom are scientists, clinicians, engineers, and specialists. Cross-functional teams like Deerfield Discovery and Development (3DC), Deerfield's internal therapeutics R&D engine, and Deerfield Intelligence, the firm's growing data and artificial intelligence arm, will team up with HSS clinicians and scientists and endeavor to quickly and rigorously evaluate and operationalize new technologies for the benefit of patients.

Promising innovations may be piloted and tested in real-world clinical environments, supporting early refinement with patient and clinician feedback. The alliance's integrated resources - including state-of-the-art laboratory and medical device incubation facilities located at Deerfield's headquarters, as well as HSS's clinical and scientific expertise - aim to compress timelines for bringing new technologies to patients while ensuring rigorous validation and adherence to compliance and quality control standards.

"As a firm dedicated to innovation, we are extremely excited about the ability of HSS and Deerfield to extend active, healthy living during a period when demographics will drive extraordinary need and demand." said Jim Flynn, Managing Partner at Deerfield. "The strengths and capabilities of HSS and Deerfield are highly complementary and the potential for creating valuable innovations is extraordinary."