Kyocera, a major manufacturer of joint replacement devices in Japan, plans to grow its U.S. business through acquisition of the primary assets of Renovis Surgical Technologies, a developer of hip and knee joint reconstruction, spinal and trauma devices. The transaction complements U.S. sales of Kyocera’s own FDA-cleared total hip devices and grants the company access to spine products—a segment in which it formerly did not operate. Financial terms were not disclosed.
Renovis’ products include spinal fusion systems and an acetabular cup based on proprietary Tesera Trabecular Technology, an implant surface structure made with additive manufacturing. In addition, the company has developed an advanced bearing surface technology for joint replacement products. Its trauma portfolio includes cannulated screws and an external fixator.
In March 2019, the acquired assets will be transferred to a new, wholly-owned subsidiary of Kyocera based in California that is to be named Kyocera Medical Technologies.
This acquisition is the latest example of device companies making strategic purchases for greater access to international markets. In 2018, WishBone Medical acquired Response Ortho to expand its ex-U.S. business and Corin purchased Global Orthopaedic Technology to complement its operations in Australia.
Sources: Kyocera; ORTHOWORLD Inc.