MedShape reached a definitive agreement for ConMed to acquire the ExoShape® Anterior Cruciate Ligament (ACL) fixation system. MedShape seeks to focus growth on its core foot and ankle products, including new investments.
The transaction includes femoral and tibial soft tissue fasteners for fixation of soft tissue grafts in reconstruction procedures.
ExoShape products have been in use since 2011. In 2014, MedShape received FDA 510(k) clearance for its femoral fixation device that was the first to be constructed completely from PEEK Altera® shape memory polymer material. The ExoShape system overall is reported to be the first all-PEEK system to offer a non-rotational deployment and interference fixation approach for ACL reconstruction.
MedShape's core foot and ankle products include the FastForward™ Bunion Correction System, launched in 2015, as well as the DynaNail® TTC Fusion System, Morphix® SP Suture Anchor, etc.
For 1Q17, ConMed posted Arthroscopy/Soft Tissue Repair revenue of $103.8MM, -1.4% compared to 1Q16. ConMed seeks to bolster revenue via product launches such as the CuffLink Double Row rotator cuff repair system, Trinity 3-in-1 camera and new shaver blades, as well as sales and licensing agreements with Bovie Medical and KFx Medical.
Sources: MedShape, Inc.; ORTHOWORLD Inc.