A bone cutter for use within the intramedullary canal is described. The bone cutter comprises a frusto-conical cutting head that extends to a barrel portion for attachment to a drive shaft. The cutting head comprises a plurality of spaced apart blades having a tissue cutting edge that extends radially from the exterior surface of the cutting head. The plurality of blades are arranged at prescribed angular relationships that are designed to increase cutting efficiency and debris removal, thereby reducing reactive torque, axial loading, and head pressure during a surgical procedure.