DJO® Acquires MedShape, Inc.
April 26 2021 - 7:00AM
Business Wire
Acquisition expands foot and ankle business and
adds innovative shape memory technologies
DJO, a subsidiary of Colfax Corporation (NYSE: CFX) and a
leading global provider of medical technologies to get and keep
people moving, today announced that it has completed the
acquisition of MedShape, Inc., a privately held orthopedic medical
device company founded in 2005. MedShape® provides innovative
surgical solutions for foot and ankle surgeons using its patented
superelastic nickel titanium (NiTiNOL) shape memory alloy and shape
memory polymer technologies.
The acquired business’ portfolio includes innovative devices for
fracture fixation, joint fusion and soft tissue injury repair that
utilize biomaterial technologies designed to improve patient
outcomes. The superelastic properties of NiTiNOL are leveraged to
create devices that actively participate and respond to changes at
the surgical site, such as bone resorption, maintaining compression
and bony apposition throughout healing. MedShape’s DynaNail® TTC
Fusion System, launched in 2011, has over 30 clinical publications
and podium presentations showing decreased failure rates and
improved fusion times utilizing NiTiNOL technology compared to
static solutions.1,2,3
“Based on our long-term success and deep relationships in both
our Prevention & Recovery and Recon segments, we made a
strategic decision to meaningfully expand into the fast-growing
Foot and Ankle market. We believe our acquisitions of STAR®,
Trilliant Surgical®, and now MedShape have created a strong
position in the space and will create a rapid growth platform,”
said Brady Shirley, CEO of DJO. “MedShape’s patented technology and
growing suite of foot & ankle innovations complement our
existing portfolio and strengthen our key strategic imperative of
superior clinical outcomes.”
The Foot and Ankle market is expected to grow and reach $1.58B
by 2025.4 Among the factors driving the market are a rapidly
growing elderly population, increasing prevalence of diabetes and a
number of sports-related injuries.4 The MedShape® product line
opens a new market entry for a suite of surgical solutions that
actively participate in the bone healing process and creates new
options for self-adapting foot and ankle implants.
“As the industry leader in developing shape memory technologies
and successfully applying that science to foot and ankle products,
we have unbounded future potential,” said Ken Gall, Ph.D.,
Professor at Duke University and Co-founder of MedShape. “We are
excited to continue developing and integrating this breakthrough
science to expand into other areas of orthopedics leveraging DJO's
market leadership, patient outcome focus and commitment to product
innovation.” Dr. Gall will take on a new role at DJO and become the
Chief Scientific Officer for the growing Reconstructive
segment.
For more information, visit www.djoglobal.com/medshape
References:
- Ford, Samuel E., John Y. Kwon, and J. Kent Ellington.
"Tibiotalocalcaneal arthrodesis utilizing a titanium intramedullary
nail with an internal pseudoelastic nitinol compression element: a
retrospective case series of 33 patients." The Journal of Foot and
Ankle Surgery 58.2 (2019): 266-272.
- Steele, John R., et al. "Comparison of tibiotalocalcaneal
arthrodeses using a sustained dynamic compression nail versus
nondynamized nails." Foot & ankle specialist 13.3 (2020):
193-200.
- Conklin, Mark Jay, et al. "Total ankle replacement conversion
to tibiotalocalcaneal arthrodesis with bulk femoral head allograft
and pseudoelastic intramedullary nail providing sustained joint
compression." Foot & Ankle Orthopaedics 3.4 (2018):
2473011418804487.
- SmartTrak® Foot & Ankle Market Overview:
https://app.smarttrak.com/markets/qs/fd52946dc2bd8b02ac1002535b62cf35
About DJO®
DJO, a subsidiary of Colfax Corporation (NYSE: CFX), is a
leading developer and distributor of high-quality medical devices
that provide proven solutions for musculoskeletal health, joint
reconstruction, vascular health, and pain management. The Company's
extensive range of products and integrated technologies address the
orthopedic continuum of care from performance and mobility to
surgical intervention and post-operative rehabilitation; enabling
people around the world to regain or maintain their natural motion.
For additional information about DJO, please visit
www.DJOGlobal.com.
About MedShape, Inc.
MedShape Inc. is a privately held medical device company founded
in 2005 based on a portfolio of proprietary surgical solutions that
use its patented adaptive shape memory healing technologies to
address the increasing demand for improved joint fusion, sports
medicine, and musculoskeletal trauma products. MedShape® has
enjoyed long term support from Hills Capital Management, the
Georgia Research Alliance (GRA), the National Science Foundation
(NSF), the National Institutes of Health (NIH), and In-Q-Tel. For
more information, visit: http://www.medshape.com
CAUTIONARY NOTE CONCERNING FORWARD LOOKING STATEMENTS
This press release may contain forward-looking statements,
including forward-looking statements within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include, but are not limited to,
statements concerning DJO's plans, objectives, expectations and
intentions and other statements that are not historical or current
fact. Forward-looking statements are based on DJO's current
expectations and involve risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
in such forward-looking statements. Factors that could cause DJO's
results to differ materially from current expectations include, but
are not limited to, risks related to the impact of the COVID-19
global pandemic, including actions by governments, businesses and
individuals in response to the situation, such as the scope and
duration of the outbreak, the nature and effectiveness of
government actions and restrictive measures implemented in
response, material delays and cancellations of medical procedures,
supply chain disruptions, the impact on creditworthiness and
financial viability of customers, and other impacts on DJO's
business and ability to execute business continuity plans, and the
other factors detailed in Colfax's reports filed with the U.S.
Securities and Exchange Commission (SEC), including its most recent
Annual Report on Form 10-K and subsequent Quarterly Reports on Form
10-Q under the caption "Risk Factors," as well as the other risks
discussed in Colfax's filings with the SEC. In addition, these
statements are based on assumptions that are subject to change.
This press release speaks only as of the date hereof. DJO disclaims
any duty to update the information herein.
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version on businesswire.com: https://www.businesswire.com/news/home/20210426005092/en/
Ashley Brown Ashley.Brown@djoglobal.com 512.348.9098
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