Medical technology company ConforMIS, Inc. (NASDAQ: CFMS) has developed a knee replacement system that promises to drastically reduce both the length of the average knee replacement surgery as well as the patient recovery time.

ConforMIS has been quietly developing their iFit system for the last few years as a private company, but they finally went public by offering 9,000,000 shares of stock in the company at $15.00 per share. After only a single day on the NASDAQ, the ConforMIS IPO raised over $135 million and is currently trading 28% above the original IPO price. Currently J.P. Morgan and Deutsche Bank Securities will act as joint book-running managers for ConforMIS stock, while Wells Fargo Securities, Canaccord Genuity and Oppenheimer & Co. will be acting as the offering co-managers.