Healthcare Industry News: HSMN NewsFeed
News Release - December 18, 2019
Conventus Orthopaedics Acquires Novel Intramedullary Technology from IntraFuseMINNEAPOLIS, Dec. 18, 2019 -- (Healthcare Sales & Marketing Network) -- Conventus Orthopaedics, Inc., a medical device company dedicated to revolutionizing fracture treatment, today announced that it has acquired all assets of IntraFuse, LLC. IntraFuse has developed proprietary intramedullary implants for the minimally invasive repair of fractures, including fibula fractures. This acquisition marks the first step of Conventus' intended expansion into lower extremity orthopaedics.
IntraFuse's FlexThread™ implants are FDA cleared and protected by 5 issued patents and 8 pending patents.
"Conventus is enthusiastic to expand beyond our innovative CAGE technology portfolio," said Rick Epstein, CEO of Conventus Orthopaedics. "The FlexThread technology offers unique, minimally invasive and easy to use intramedullary products for small bone fractures. These products complement our intramedullary CAGE products for large bone peri-articular fractures. With the backing of our lead investor, Deerfield Management, this acquisition is a first step of what will be an aggressive transformation from a single product company into a formidable orthopaedic supplier. I have high expectations for continued business development activity coupled with development of proprietary devices."
"The IntraFuse acquisition shows our commitment to support Conventus in execution of strategic portfolio development," said Andrew ElBardissi, MD, Partner at Deerfield Management. "We are excited to see their portfolio strengthened with the FlexThread technology and look forward to Conventus' continued expansion through acquisitions and internal development."
Transaction details were not disclosed.
About Deerfield Management
Deerfield is an investment management firm committed to advancing healthcare through investment, information and philanthropy. For more information, please visit www.deerfield.com.
About Conventus Orthopaedics
Conventus Orthopaedics, Inc. is an early-stage company focused on delivering a new standard of care for orthopaedic fracture treatment, including complex and fragility fractures where there is a significant unmet need and a lack of treatment options. To learn more, please visit www.conventusortho.com.
IntraFuse is a portfolio company of Surgical Frontiers, LLC headquartered in Logan, UT, founded in 2014 and led by CEO and founder Wade Fallin. Surgical Frontiers is an incubator company focused primarily on musculoskeletal injuries and pathologies, collaborating with surgeons, industry, universities, and investors to bring advanced surgical technologies to the market that improve healthcare.
Source: Conventus Orthopaedics
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