Healthcare Industry News: PEEK
News Release - October 10, 2008
Pioneer(R) Surgical Technology, Inc. and Bonovo Orthopedics, Inc. Sign Exclusive Agreement to Distribute Pioneer's Spine Products in ChinaCompanies Poised to Penetrate Worlds' Fastest Growing Spine Market
MARQUETTE, Mich.--(HSMN NewsFeed)--Pioneer Surgical Technology, Inc. and Bonovo Orthopedics, Inc., a leading Chinese manufacturer and distributor of orthopedic products, have signed a comprehensive agreement that effectively opens the Chinese market for the distribution and sale of Pioneer’s full portfolio of spine products. Under the terms of the relationship, Bonovo will serve as Pioneer Surgical Technology’s exclusive distributor of products for the Chinese spine market.
“The signing of this agreement with Bonovo Orthopedics is a milestone for our international expansion goals,” states Matthew N. Songer, MD, Pioneer’s CEO and Chairman of the Board. “Partnering with Bonovo secures the infrastructure and expertise necessary to be successful in the Chinese market,” added Songer.
Bonovo’s CEO, Peter Slate says, “We are thrilled to be working with a technology leader like Pioneer. Our shared desire to provide innovative, quality products to the Chinese market will provide many opportunities for future collaboration between Bonovo and Pioneer.”
“This partnership presents huge opportunities for both of our companies,” according to Lex R. Giltaij, MD, Vice President of Pioneer’s European Subsidiary. “With our shared vision, we will have the opportunity to train surgeons from China, the USA, and Western Europe, to exchange knowledge, and build a prosperous future together,” Giltaij added.
Details of the agreement were not disclosed. Bonovo anticipates a November introduction of Pioneer’s spine products at the Chinese Orthopaedic Association meeting in Suzhou, China.
About Pioneer Surgical Technology
Pioneer Surgical Technology, Inc., headquartered in Marquette, Michigan, is a dynamic medical device firm with a full line of cutting-edge motion preservation devices, either available commercially in Europe or under clinical evaluation in the U.S. Pioneer’s signature articulating P3™ Technology - Pioneer PEEK-on-PEEK, in its NuBac™ disc arthroplasty system, BacJac™ interspinous decompression system, and NuNec™ artificial cervical disc, is the most technologically advanced in the industry. In addition, Pioneer’s reputable portfolio of spinal fusion products includes novel vertebral spacers, industry-leading cervical plating systems, and comprehensive MIS and Mini-Open systems. Thoughtful innovation has rewarded Pioneer with over 100 U.S. and Foreign patents with numerous patents pending. The company established a Biologics Division following two acquisitions in 2007. Pioneer Orthobiologics is developing a rich pipeline of products indicated for a variety of spinal and orthopaedic applications. Pioneer focuses on developing novel products which are easier and faster for the surgeon, cost effective for the health care system, and provide better patient outcomes.
About Bonovo Orthopedics, Inc.
Bonovo Orthopedics, Inc., based in Phoenix, Arizona and Beijing was established to provide the latest orthopedic products to the Chinese healthcare market. Bonovo has over 15 years of experience manufacturing orthopaedic products, with over 150 employees, 2 manufacturing facilities, and a distribution network throughout China. Bonovo has established relationships with leading clinicians and hospitals within China to provide unique distribution services for its products and those of its partners.
About Pioneer Surgical Technology, BV
Pioneer Surgical Technology’s European subsidiary was established in the Netherlands in August 2006 following the introduction of NuBac™ in Europe. Pioneer BV carries a full range of Pioneer’s spine products and works with distributors in several countries in Europe including Italy, United Kingdom, Switzerland and the Benelux. Pioneer is establishing its own sales team in Germany.
Source: Pioneer Surgical Technology
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