Wright Medical received a binding offer under which Corin Orthopaedics would acquire Wright's hip/knee business for 29.7MM in cash (~US $33MM). The proposed transaction is expected to close by early 4Q16.
Medtronic acquired Responsive Orthopedics, a start-up focused on sales of low-cost hip and knee replacements. A primary knee is slated for commercial U.S. availability within 1H17, followed by a primary hip in 1H18.
Lima Corporate entered into an Innovation Alliance Agreement with the Hospital for Special Surgery. New product co-developments include a Trabecular Titanium total elbow and an advanced acetabular cup.