Healthcare Industry News: Olympus
News Release - November 10, 2010
Small Bone Innovations International S.A.S. Enters into an Exclusive Distribution Agreement with Biomet Nederland B.V.Expands pre-existing distribution agreement with one of the foremost orthopedic companies in the world
Exclusive agreement covers complete SBi Product Portfolio
NEW YORK--(Healthcare Sales & Marketing Network)-- Small Bone Innovations, Inc. (SBi), a leading privately-held orthopedic company focused exclusively on technologies and treatments for the small bones & joints, announced that Small Bone Innovations International S.A.S. has entered into an exclusive three-year distribution agreement in the Netherlands with Biomet Nederland B.V., a subsidiary of Biomet, Inc., based in Dordrecht – the company’s European headquarters.
Anthony G. Viscogliosi, Chairman & CEO of SBi, said: “We are delighted to be expanding distribution of our products in the Netherlands through Biomet, a global leader in orthopedic devices. We expect this announcement, which builds on a pre-existing relationship with Biomet Nederland, to be the start of a new and exciting chapter in our partnership.”
Roland van Esch, Managing Director of Biomet Nederland, said: “We are very eager to offer SBi’s full product line in the Netherlands that both complements and supplements Biomet’s European product line.”
Mr. Viscogliosi added: “This announcement follows the distribution agreement announced in May of this year between SBi and Olympus Terumo Biomaterials Corporation, jointly owned by Olympus Corporation and Terumo Corporation, for Japan and China. These exclusive distribution agreements with leading, global medical device companies are proof of a growing worldwide interest in the small bone & joint market.”
SBi has been attracting considerable attention in both the financial and the orthopedics sector. Out of nearly 5,200 companies considered, SBi was the only orthopedics company on the list of the top 50 U.S. VC-backed companies in the Wall Street Journal article “Sizing Up Promising Young Firms” on March 9, 2010. SBi was the 7th highest ranked healthcare company in the listing and was 24th amongst all 50 companies highlighted.
SBi closed on $12 million in Series E funding from Olympus Corporation in March 2010 and earlier secured a $30mm debt facility from Fortress Investment Group to fund accelerated business expansion and refinance existing indebtedness.
Last year SBi closed on $144 million in Series D and Series C funding from a group of investors including Khazanah Nasional Berhad (the investment firm of the Government of Malaysia), the Malaysian Technology Development Corporation (MTDC), an integrated Malaysian-based venture capital company, The Family Office of Bahrain, Viscogliosi Brothers, LLC, Trevi Health Ventures, NGN Capital, 3i Group, and TGap Ventures, among others.
About Small Bone Innovations, Inc.
Small Bone Innovations, Inc. (SBi) was founded in 2004 by Viscogliosi Brothers, LLC (VB), a New York-based merchant banking firm that specializes in the musculoskeletal/orthopedics sector. VB created SBi as the first company to focus purely on small bones & joints. By integrating established companies and professionals in the field, SBi offers a broad, clinically proven portfolio of products and technologies to treat trauma and diseases in small bones & joints. Today, SBi has facilities in New York, NY, Morrisville, PA, Bourg-en-Bresse, France, Donaueschingen, Germany, and Kuala Lumpur, Malaysia and has sold its products in 46 countries.
For more information on SBi, please visit: www.totalsmallbone.com
Forward-looking statements This news release contains forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting SBi’s business including increased competition; the ability of SBi to expand its operations and to attract and retain qualified professionals; technological obsolescence; general economic conditions; and other risks.
Source: Small Bone Innovations
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