Healthcare Industry News: Amedica
News Release - September 21, 2010
Amedica(R) Corporation Acquires US Spine, Further Securing Its Leadership Position in the Spinal Device MarketplaceSALT LAKE CITY, Utah, Sept. 21 -- (Healthcare Sales & Marketing Network) -- Amedica Corporation (AC), a spinal and orthopaedic implant and instrument company focused on unique silicon nitride (SiN) ceramic technologies, announced today that it has acquired US Spine, a privately held, well-known medical device company focused on the development and commercialization of advanced spinal implant systems. Development efforts at Boca Raton-based US Spine have produced several unique technologies that are in the market, including certain facet technologies that address open, MIS, allograft, and deformity correction procedures, complementing existing spinal implant and device product lines from Amedica.
This pure play acquisition, the first in the spinal device industry in 2010, continues the significant expansion plans of Amedica to become an important platform technology concern in both the spinal and orthopaedic reconstruction markets. Terms of the private transaction were not disclosed.
Amedica, based in Salt Lake City, is a spinal implant company that manufactures and markets silicon nitride technologies that are now being utilized in spinal implant applications; however, the unique SiN materials have market changing characteristics for hip, knee and extremity implant applications, as well. The material is fracture resistant; its bearing/articulating surfaces do not produce wear debris that is linked to osteolysis-related re-operations. Additionally, the implants are BioActive™ with a hydrophilic and conductive micro-structure surface to enhance bone in-growth and solid attachment.
The US Spine acquisition properly positions Amedica as a well balanced company in the spinal device market, completing its full-line of spinal implants and instruments and expanding its spinal device offerings to cover all spinal surgery indications including several minimally invasive techniques, PEEK and silicon nitride interbody spacers, biologics and deformity correction procedures.
Ben Shappley, Chief Executive Officer, President and Director of Amedica says, "This acquisition will clearly enable Amedica to establish itself as a complete and full-line spinal implant concern with leading edge technologies including, and further integrating, the very unique silicon nitride advantage. As a result of this transaction, Amedica has doubled its distribution network and sales and marketing management and enhanced its international presence."
Earlier this year, Amedica signed a Joint Venture Development Agreement with Orthopaedic Synergy (OSI), a global reconstructive hip and knee implant and instrument concern that designs, manufactures and distributes its products. OSI is known for leading edge innovation, cost-effective, outcome-focused implant systems and deep orthopaedic executive management experience.
The joint venture between Amedica and OSI allows the development, regulatory approval and distribution of SiN articulating hip and knee implants in the U.S. and abroad. This agreement further secures both companies' competitive positions in the largest global segment of orthopaedic care.
Amedica also recently received four new patents – one for ceramic-on-ceramic bearings, one for a hip implant using monoblock silicon nitride technology, one for silicon nitride knee components and one for its motion-preserving total disc replacement technology. The company has quite an extensive spinal, hip and knee intellectual property portfolio. This year Amedica also partnered with SUNY Upstate Medical University to measure, and further prove clinically, the fusion performance in Silicon Nitride implant devices.
"We are on a well-planned and well-financed growth trajectory that will continue to expand our company and the global reach of its spinal and orthopaedic implant technologies through acquisitions, strategic alliances, and research and product development projects well into the future," Shappley said.
Amedica Corporation is ISO 13485 certified and its products are FDA cleared, CE and ANVISA approved. Amedica Corporation is an emerging orthopaedic implant company focused on using its Silicon Nitride ceramic technologies to develop and commercialize a broad range of innovative, unique outcome focused spine and total joint implants for the growing orthopaedic device market. It has brought to market various spinal implant products, while products under development include reconstructive hip and knee implants that represent a new standard of care in total joint implants based on superior performance, safety and efficacy.
About US Spine:
US Spine is a spinal implant and device manufacturing company committed to advancing the science of spine through the integration and collaboration of surgeons, scientists and engineers in creating the best solutions for patients with spinal disorders. The company's mission is to develop, manufacture and market high quality, innovative and cost-effective spinal products that address the needs of our surgeons and their patients, with development efforts focused on motion and tissue preservation through a minimally invasive approach to treat spinal disorders.
Source: Amedica Corp
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.