February's Trade News Digest

16 February 2020

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Orthofix Medical to Acquire Fitbone System

Orthofix Medical has acquired the asses connected with Wittenstein SE's Fitbone limb-lengthening system. The deals is said to be worth $18m and includes a manufacturing and supply contract.

Fitbone is designed to lengthen femur and tibia bones via a lengthening nail implant and is also exploring other applications for the technology such as the Fitspine system for use with scoliosis.

“Founded 40 years ago as an extremity fixation company, Orthofix has a long history of cutting-edge solutions to treat patients born with limb discrepancies,” Orthofix President & CEO Jon Serbousek said in the news release. “The addition of the Fitbone intramedullary lengthening system further rounds out our limb reconstruction offerings and is well aligned with our strategy of investing in innovative products to drive growth within our core businesses.” Said Orthofix CEO, John Serbousek.

The acquisition is expected to be completed by the end of the first quarter of 2020.

Verily and Santen Pharmaceuticals Announce Joint Venture

Alphabet subsidiary Verily and Santen Pharmaceuticals have announced they will enter into a joint venture to develop microelectronics and ways of applying digital technologies to ophthalmology.

“This joint venture will combine Verily’s cutting-edge digital technology and our global industrial and commercial ophthalmology business platform to pursue innovation in ophthalmology,” Santen president & COO Shigeo Taniuchi said “Digital technology is a transformational driver in health and we hope that this joint venture will be a significant step forward in paving the way for better eye care around the world.”

Verily senior director of ophthalmic innovation Dr. Dimitri Azar said the joint venture is hoping to explore treatments for glaucoma, dry eye and more.

Intuitive Surgical Completes Acquisition of Orpheus Medical

The developer of the da Vinci robot-assisted surgical device, Intuitive Surgical, has completed its acquisition of New York based Orpheus Medical in a bid to develop its integrated informatics provision.

The company, which provides IT and connectivity and archiving surgical video services, will act as a subsidiary of Intuitive Surgical.

“The addition of Orpheus will provide customers — including surgeons, patient care teams and hospitals — with ready access to and a deeper understanding of their data, which we believe may help our customers improve patient outcomes and lower total treatment costs,” Said Intuitive Surgical senior VP of corporate development & strategy, Julian Nikolchev.

Orpheus Medical CEO Gaddi Menahem added “Combining both companies’ innovative technologies with Intuitive’s global reach and resources will enable current and future customers easier and faster access to their data.”

Medtronic Acquires Digital Surgery

Medtronic has announced its acquisition of London-based Digital Surgery. The company specialises in surgical AI and digital analytics and training and will strengthen Medtronics surgical robotics platforms and services.

“We are thrilled to bring the Digital Surgery team and their expertise into Medtronic, not only due to the strategic fit rom a technology perspective, but also due to the shared belief that patients around the world deserve access to quality surgical care,” said Megan Rosengarten, VP and general manager of Surgical Robotics at Medtronic. “By pairing digital solutions with robotic platforms and instrumentation, we can have a big impact on expanding patient access.”


"Movers and Shakers"

Procept BioRobotics has appointed former CEO of ophthalmology tech company Avedro, Reza Zadno, as its new CEO.

AngioDynamics has made Interim CFO Stephen as its permanent CFO and have appointed him as Executive VP.

Obstructive lung disease treatment developer Nuvaira has announced Tom Griffin as its new CFO.

Drug-coated balloon maker Surmodics has Dr. Nusrath Sultana as its new VP of clinical affairs.