For CHF 10 million (~USD $11 million), Medartis acquired a 25% stake in KeriMedical, provider of suture anchors and hand/wrist implants for joint replacement. With this partnership Medartis takes a significant step toward becoming a complete solution provider in its strong hand and wrist segment, adding hand and wrist joint replacement products to its current trauma portfolio.
A significant share of the capital invested by Medartis will be used for access and development of the U.S. market for KeriMedical products. This includes the flagship Touch prosthesis, which is used to treat basal thumb osteoarthritis. Under the agreement, Medartis receives exclusive distribution rights in select markets, among others in the U.S., Germany, Austria, U.K. and Australia.
The transaction will also address development of small joint arthroplasty and upper extremity soft tissue fixation, with possible opportunities in lower extremities.
Founded in 2016, KeriMedical is headquartered in Geneva, Switzerland, employs ~70 staff and operates in 20 European markets.