Healthcare Industry News: DePuy
News Release - January 19, 2006
DePuy Orthopaedics Concludes Acquisition of Hand Innovations LLCWARSAW, Ind., Jan. 19 (HSMN NewsFeed) -- DePuy Orthopaedics, Inc. today announced the acquisition of Hand Innovations LLC, a privately held manufacturer of widely used fracture fixation products for the upper extremities. The acquisition provides DePuy Orthopaedics with leading technology in the plating business, the fastest growing and most under penetrated segment of the worldwide extremities market.
Terms of the acquisition are not being disclosed.
Based in Miami, Florida, Hand Innovations' implants for the treatment of distal radius (wrist) fractures have changed the standard of surgical treatment. The company's Distal Volar Radius (DVR) plates offer clear benefits including structural strength, less soft tissue disturbance and the potential for faster recovery as compared to casting, external fixation or other plates.
Worldwide, over 200,000 distal radius fractures are treated surgically each year. More than 50,000 DVR plates have been implanted since the technology was introduced in February 2001.
In addition to DVR plates, Hand Innovations offers a diverse and innovative product portfolio focused on the needs of the upper extremity surgeon.
"Treatment of upper extremities is an area of strong growth and our goal is to lead the industry in this area," says Gordon Van Ummersen, General Manager, Worldwide Trauma and Extremities, DePuy Orthopaedics. "By combining leading products of Hand Innovations and DePuy's worldwide distribution network, we anticipate rapid growth in this segment of the market."
"We are very pleased to join DePuy Orthopaedics and the Johnson & Johnson family of companies," says Jorge Orbay, MD, a leading Miami-based hand surgeon and founder of Hand Innovations. "The combination of our complementary product development capabilities will enhance our ability to develop even better treatment options for surgeons."
DePuy Orthopaedics will integrate with the Hand Innovations sales team to broaden worldwide distribution of its products. Dr. Orbay will remain as a consultant to the company and continue his close cooperation with the research and development teams at Hand Innovations and DePuy Orthopaedics.
DePuy Orthopaedics, a Johnson & Johnson company, is a leading designer, manufacturer and distributor of orthopaedic devices and supplies including hip and knee replacements, trauma and extremities products, and operating room products.
Source: DePuy Orthopaedics
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