SPINESOURCE Acquires French Medical Device Technology from Kisco International (France).
SpineSource, Inc. acquired the intellectual property assets of two spinal implant systems from Kisco International (France). The acquisition included the L-VARLOCK® Expandable Lumbar Cage which SpineSource had marketed, sold and distributed in the United States since 2016. The acquisition also included other unique medical devices that SpineSource planned to submit to FDA for potential clearance.
KYOCERA to Purchase Major Assets of U.S.-based Renovis Surgical Technologies, Inc
Kyocera Corporation agreed with Renovis Surgical Technologies, Inc. ( a U.S.-based orthopedic and spinal medical device manufacturer and developer) to purchase the major assets of Renovis’ business operations relating to artificial joint and spinal products. The assets would be transferred into a new California-based company wholly owned by Kyocera International, Inc., to be named Kyocera Medical Technologies, Inc.
Kyocera plans to expand its U.S. medical equipment business through this asset purchase. The newly established company will develop high value-added products that improve patient health and quality of life through synergies between Kyocera’s proprietary technologies and those purchased from Renovis.
WISHBONE Medical Acquired CSpine
WishBone Medical purchased last May, CSpine, Inc., an Indiana based company that designs, develops and manufactures spine and orthopedic implants and instruments. CSpine provided the full continuum of services from concept to commercialization for orthopedic and spinal device companies, including FDA regulatory submission, mechanical testing referral/oversight, and various engineering and design functions such as functional relationship analysis (FRA). Vertical integration also rendered a streamlined production process – CSpine will make implants onsite to be combined and sterile packed with disposable instruments at Red Star Contract Manufacturing, which is ISO certified. Moving forward, CSpine will operate under the new name of Red Star Medical Solutions, as part of the Red Star family. All Red Star facilities will continue to provide contract manufacturing for the medical device industry
The ultimate objective is to produce highly-innovative surgical solutions for pediatric spinal deformities, to be packaged in sterile, single-use disposable kits – unlike any other spine system existing to date.
BOSTON SCIENTIFIC Acquired VERTIFLEX
Boston Scientific announced a definitive agreement to acquire Vertiflex, Inc., a privately-held company which has developed and commercialized the Superion® Indirect Decompression System, a minimally-invasive device used to improve physical function and reduce pain in patients with lumbar spinal stenosis (LSS). The procedure – primarily performed by physicians who treat chronic pain patients with therapies including spinal cord stimulation and radiofrequency ablation – is expected to reach $60 million in sales in 2019. The transaction consists of $465 million in upfront cash and additional payments contingent on commercial milestones for the next three years.
MEDTRONIC Acquired TITAN SPINE
Medtronic announced a definitive agreement pursuant to acquire Titan Spine, a privately-held titanium spine interbody implant and surface technology company. Terms of the transaction are not being disclosed. Medtronic’s acquisition of Titan Spine strengthened Medtronic’s position as a leading innovator in procedural solutions for spine surgery. In bringing the two companies together, Medtronic acquired Titan Spine’s complete portfolio, which consisted of a comprehensive line of titanium, surface-enhanced interbody fusion devices.
The acquisition is expected to close during Medtronic’s first fiscal quarter ending July 26, 2019, subject to the satisfaction of customary closing conditions including receipt of regulatory clearances. The transaction is expected to be immaterial to Medtronic’s fiscal 2020 adjusted earnings per share and is expected to meet Medtronic’s long-term financial metrics for acquisitions.
CELLING SPINE Acquires Assets of LINK SPINE
Celling Spine a subsidiary of Celling Biosciences, based in Austin, Texas, acquired all the assets of Link Spine, a subsidiary of Link Orthopedics of Germany. Link is a global leader in orthopedic technologies and was looking for a company to further develop the comprehensive spinal fusion system focused on facet fixation and minimally invasive surgery.
Celling believed this technology complimented the current portfolio and supported the development of a biologically enhanced spinal fusion system. The company is taking traditional spine implant systems and developing biological enhancements to optimize and promote the body’s natural healing cascade.
The Link Spine midline system featured three core platforms: FacetLink, CorticalLink and Vertbralink The comprehensive system offered a complete array of screws and devices, allowing for flexibility to apply the least invasive and most appropriate fusion construct, depending upon patient anatomy, pathology, and surgeon preference. The system is integrated to minimize the number of trays required and at the same time allow “a la carte” decisions to be made intra-operatively regarding fixation.
OSSEUS Fusion Systems Acquired SIJ Surgical
Osseus Fusion Systems, a medical device firm focused on developing unique and novel implantable spine products, announced the acquisition of SIJ Surgical in July 2019.
SIJ Surgical was founded with the goal of providing the ultimate Sacroiliac (SI) fusion solution for surgeons and patients. SIJ Surgical’s SI Screw System has numerous competitive advantages that make it a leader in the SI fusion market. Aggressive distal cutting flutes and dual lead threads allow for effortless bone purchase. Fenestrated, open implant architecture results in improved osseointegration and reduced radiographic signature. Integrated safety features help control targeting and screw insertion while streamlined instrumentation facilitates procedural efficiency.
Eric Hansen, Co-Founder & CEO of Osseus Fusion Systems said, “This is the first company acquisition for Osseus. Osseus was founded with a bootstrap mentality of organic growth through in-house product development. However, based on the explosive growth of the SI Fusion market, the acquisition of a cutting-edge SI Fusion product made sense to position us as a front runner in this segment. We are extremely thrilled to add the Blue Topaz™ CompresSIve Sacroiliac Screw System to our product portfolio.”
Stryker acquires Mobius Imaging & Cardan Robotics
Stryker acquired Mobius Imaging, LLC, a leader in point-of-care imaging technology, and its sister company, GYS Tech, LLC (DBA Cardan Robotics), in an all cash transaction of approximately $370 million upfront and up to $130 million of contingent payments associated with development and commercial milestones. The acquisition provided Stryker’s Spine division with immediate entry into the intra-operative imaging segment and aligned with Stryker’s implant and navigation offerings.
Mobius Imaging, founded in 2008, is focused on integrating advanced imaging technologies into medical workflow, which can enhance a clinician’s ability to obtain high-quality images. Its Airo TruCT scanner is a best-in-class mobile, real-time, diagnostic-quality CT imaging system. Cardan Robotics, founded in 2015, is working to develop innovative robotics and navigation technology systems for surgical and interventional radiology procedures.
Stryker announces definitive agreement to acquire Wright Medical
Stryker announced a definitive agreement to acquire all of the issued and outstanding ordinary shares of Wright Medical Group N.V. (NASDAQ: WMGI) for $30.75 per share, or a total equity value of approximately $4.0 billion and a total enterprise value of approximately $5.4 billion (including convertible notes). Wright Medical, which was founded in 1950, is a global medical device company focused on extremities and biologics.
Wright Medical brings a highly complementary product portfolio and customer base to Stryker’s trauma and extremities business. With global sales approaching $1 billion, Wright Medical is a recognized leader in the upper extremities (shoulder, elbow, wrist and hand), lower extremities (foot and ankle) and biologics markets, which are among the fastest growing segments in orthopaedics.
Wright Medical’s leading upper extremity portfolio and advanced preoperative planning technology will significantly add to Stryker’s offering. Additionally, Wright Medical’s lower extremity and biologics will complement Stryker’s portfolio and strengthen the company’s position in this high-growth segment.
The acquisition of Wright Medical is expected to close in the second half of 2020 and is expected to have no impact to Stryker’s net earnings per diluted share and adjusted net earnings per diluted share in 2019.
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