Colfax subsidiary DJO has acquired orthopaedic medical device company MedShape to expand its foot and ankle business as well as add advanced shape memory technologies to its portfolio.
Founded in 2005, MedShape uses its patented superelastic nickel-titanium (NiTiNOL) shape memory alloy and shape memory polymer technologies to offer novel surgical solutions for foot and ankle surgeons.
DJO CEO Brady Shirley said: “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.
“MedShape’s patented technology and growing suite of foot and ankle innovations complement our existing portfolio and strengthen our key strategic imperative of superior clinical outcomes.”
The business portfolio acquired by DJO comprises innovative devices that use biomaterial technologies to potentially enhance patient outcomes for fracture fixation, joint fusion and soft tissue injury repair.
The NiTiNOL’s superelastic properties are used for making devices that can actively take part in and respond to changes at the surgical site, aiding with bone resorption, maintaining compression and bony apposition during healing.
MedShape’s DynaNail TTC Fusion System, which was launched in 2011, has demonstrated lowered failure rates and better fusion times using NiTiNOL technology versus static solutions.
MedShape co-founder Ken Gall said: “As the industry leader in developing shape memory technologies and successfully applying that science to foot and ankle products, we have unbounded future potential.
“We are excited to continue developing and integrating this breakthrough science to expand into other areas of orthopaedics leveraging DJO’s market leadership, patient outcome focus and commitment to product innovation.”
The companies have not divulged the financial details of the deal.
In January, DJO acquired Trilliant Surgical, a provider of foot and ankle orthopaedic implants in the US.