Genesis Innovation Group

What Genesis Innovation Group does

Genesis Innovation Group is a U.S.-based medical device development firm headquartered in Grand Rapids, Michigan, founded in 2013 by Rob Ball, Jeff Ondrla, and Don Running. The company operates a hybrid services-and-capital model, providing full-lifecycle medical device development from ideation and engineering through regulatory approval (510(k), De Novo, IDE), manufacturing, and commercialization, supported by an ISO 13485:2016 certified quality system. In parallel, it manages the cultivate(MD) Capital Fund, a $10 million venture vehicle investing in early-stage orthopedic and medical device companies, with the same team acting as both developer and investor in portfolio companies such as Shoulder Innovations, HAPPE Spine, Nanochon, ProVoyance, Capitan Orthopedics, Embody, and Imascap.

The company's core technology platform spans ISO-certified regulatory infrastructure, AI-enabled software (Preview™ 3D Shoulder Arthroplasty Planning Software, the first orthopedic solution cleared under FDA's QIH classification), and proprietary implants developed through subsidiaries including Shoulder Innovations' InSet™ total shoulder system and Capitan Orthopedics' SupraSpacer™ implant (FDA Breakthrough Device Designation, April 2026). Distribution leverage is provided through an independent distributor network and surgeon KOL relationships that the firm deploys on behalf of portfolio companies.

Genesis makes money through professional services fees for medical device development engagements, fund management and equity returns from cultivate(MD) portfolio investments, and realized gains on exits (13 to date, including Embody's sale to Zimmer Biomet in 2023 and Imascap's sale to Wright Medical in December 2017). The customer base is concentrated in early-stage orthopedic and musculoskeletal device companies, served through direct enterprise engagement, with Chance Leonard as CEO since July 2024 and Rob Ball as Chairman.

Name

Genesis Innovation Group

Legal name

Genesis Innovation Group

Website

https://genesisinnovationgroup.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

Genesis Innovation Group is a U.S. medical device development firm that takes concepts from ideation through commercialization, combining ISO 13485-certified development services with the cultivate(MD) venture fund to build and back early-stage orthopedic and medtech companies.

Ownership category

akta.pro rank

Product category

Medical Device Development Services

NAICS

Scientific Research and Development Services (5417)

akta.pro primary industry

Corporate Accelerators & Startup Programs (FSANAHAD)

akta.pro secondary industry

Accelerators & Incubators (Investor-Operated) (FSANAAAM)

Keywords

• Medical device development
• FDA regulatory services
• Orthopedic device design
• Medical device venture capital
• Medical device commercialization

Headquarters

HQ city

Holland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Medical Device Development Services: Genesis charges fees for comprehensive medical device development services including engineering, regulatory, manufacturing, and commercialization support. Services are provided to inventors, entrepreneurs, and medical device companies seeking to develop and bring products to market.
2. Portfolio Company Investments: Genesis generates returns through equity stakes in portfolio companies including Shoulder Innovations, HAPPE Spine, Nanochon, Capitan Orthopedics, and others. The cultivate(MD) venture capital fund invests in early-stage medical device companies.
3. Successful Exits: Genesis has achieved 13 successful exits including Embody (acquired by Zimmer Biomet in 2023) and Imascap (acquired by Wright Medical in December 2017), generating returns through acquisition transactions.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Genesis Innovation Group is a medical device development firm that provides full-lifecycle services from ideation through commercialization, including engineering, business and finance support, manufacturing expertise, regulatory and quality services (ISO 13485-certified, 510K, De Novo, PMA), and market strategy and commercialization. The company also operates the cultivate(MD) Capital Fund, a $10 million venture capital fund that invests in early-stage medical device and orthopedic technology companies, and develops products through subsidiaries such as Capitan Orthopedics and Genesis Software Innovations.

Product overview

Genesis Innovation Group is a medical device development firm that operates as both a product developer and venture investor. The company has founded and supports multiple subsidiaries and portfolio companies: Capitan Orthopedics (SupraSpacer™ implant for irreparable rotator cuff tears), Shoulder Innovations (InSet™ Total Shoulder System including glenoid and humeral components), HAPPE Spine (Hydroxyapatite Porous PEEK spinal devices), Nanochon (Chondrograft™ cartilage repair implants), ProVoyance (AI-enabled pre-surgical planning software), and Genesis Software Innovations (Preview™ 3D planning platform). The company also operates cultivate(MD) Capital Fund, a $10M venture capital fund. Services include full medical device development from ideation to commercialization, regulatory expertise, and manufacturing support. The portfolio has achieved 13 successful exits and includes companies acquired by Zimmer Biomet and Wright Medical.

Differentiator

Problem solved

Functional benefit

Brands

• cultivate(MD): Medical device venture capital company focused on early staged medical device investing, launched in November 2017 with a $10 million fund
• Genesis Software Innovations (GSI)
• Capitan Orthopedics, Inc.
• cultivate(MD) Capital Fund

Products and services

• Medical Device Development Services
• Medical Device Regulatory and Quality Services
• cultivate(MD) Capital Fund
• Preview™ 3D Shoulder Arthroplasty Planning Software
• SupraSpacer™ Implant

Quantifiable outcome

• 87% reduction in glenoid implant micro-motion with InSet technology (Shoulder Innovations)
• +4 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core, supporting and minor.

• Spectrum Health InnovationscoreStrategic or Co-development Partner · 24 August 2017Strategic partnership to bring Dynamic Tensioning Shoulder Brace to market. Genesis worked with Dr. James Lebolt and Spectrum Health team to develop functional prototypes. The brace addresses shoulder instability for patients recovering from rotator cuff, labrum, or other muscle/tendon injuries affecting the glenohumeral joint.
• HAPPE SpinecoreStrategic or Co-development PartnerGenesis-backed startup developing Hydroxyapatite Porous PEEK technology for spinal implants. Received $650,000 investment commitment from existing investors. Winner of Orthopedics This Week Spine Technology of the Year Award 2023.
• Project MedTechcoreImplementation/ SI/ Consulting PartnerBusiness and finance consulting division partnership providing strategic planning, cap table management, financial reporting, ERP implementation, and fractional C-suite staffing support for medical device startups.
• Shoulder InnovationscoreStrategic or Co-development PartnerGenesis portfolio company and subsidiary network. Shoulder Innovations commercializing InSet shoulder replacement technology with over 1,200 cases completed and 12+ years of clinical data. Signed exclusive license for GSI PreView Shoulder software.
• Orchid, Thortex, KyocerasupportingTechnology or IntegrationManufacturing and supply chain partners for Shoulder Innovations enabling scale and rapid production ramp-up. Partnered with established medical device manufacturing professionals.
• Imascap SASminorStrategic or Co-development PartnerGenesis played integral role in developing Imascap's strategy. Company developed software for preoperative planning of shoulder replacement surgery. Acquired by Wright Medical in December 2017.

Scale indicators20 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• The Foundry: The Foundry is a medical device incubator/company-creation firm that conceives, develops, and spins out companies around clinician-invented technologies. It shares Genesis Innovation Group's model of moving from ideation through regulatory clearance and commercialization, and operates a similar studio-and-fund hybrid with multi-decade orthopedic and cardiovascular exits.
• Fogarty Innovation: Fogarty Innovation is a medical device incubator embedded in a hospital system (El Camino Health) that helps physician-inventors take devices from concept to market - directly paralleling Genesis's ideation-to-commercialization services for medical device entrepreneurs and the firm's hybrid services-plus-investment model.
• InCube Labs: InCube Labs is a medical device and healthcare innovation incubator that creates, funds, and runs multiple portfolio companies spanning neurostimulation, drug delivery, and surgical devices. It operates the same studio-and-fund model as Genesis, including internal subsidiaries and external equity stakes.
• MedTech Innovator: MedTech Innovator is the largest medical device accelerator globally, running an annual cohort program for early-to-growth stage medtech startups. It overlaps with cultivate(MD) and the Genesis services arm in serving the same inventor/early-stage medical device customer base.
• StarFish Medical: StarFish Medical is a medical device design, engineering, and contract manufacturing services firm that takes clients from concept through FDA submission - the same core service offering Genesis provides. It is one of the larger specialized medtech development services firms competing for the same client base.
• Cambridge Consultants: Cambridge Consultants is an engineering services firm with a deep medical device practice covering concept, prototyping, regulatory, and manufacturing support. It is a larger-scale competitor to Genesis's 'Ideation & Engineering' pillar and serves the same medical device inventor and startup customer base.

Broad incumbents

• JLabs (Johnson & Johnson Innovation): JLabs is J&J's network of healthcare and medtech startup incubators, offering lab space, mentorship, and J&J partnership pathways. As a corporate-backed accelerator, it pursues similar early-stage medical device deal flow but with vastly more corporate resources than Genesis Innovation Group.
• Cleveland Clinic Innovations: Cleveland Clinic Innovations is a hospital-based commercialization arm that spins out medical devices invented by Cleveland Clinic staff and provides services to outside startups. Comparable to Genesis's hospital-sourced invention pipeline (Shoulder Innovations, Capitan Orthopedics) at much greater scale.
• Stryker: Stryker is a global medical device incumbent with strong orthopedic, neurotechnology, and surgical businesses, and runs internal venture/incubation programs. It is a likely strategic acquirer of Genesis-backed portfolio companies (alongside Zimmer Biomet) and competes indirectly for the same surgeon-inventor community.

Others

• Battelle: Battelle operates the world's largest independent applied science and R&D organization, with a medical device practice spanning development, regulatory, and clinical trial services. It is an indirect competitor in the services space and a potential strategic partner for portfolio companies requiring deep technical or clinical resources Genesis lacks.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/GenesisGroup_MI
• LinkedInlinkedin.com/company/genesis-innovation-group

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments8 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Genesis Innovation Group