Orthofix Medical and Neo Medical entered into a partnership and investment agreement to develop and market a cervical platform of single-use, sterile-packed procedure solutions.
Products will be designed to increase O.R. efficiencies, reduce procedural times and costs, improve patient outcomes through novel device designs and techniques, and reduce infection rates. The companies will co-develop single-use instrumentation for cervical spine procedures, suitable for all inpatient and outpatient surgical settings.
Orthofix will also exclusively distribute Neo Medical’s value-based thoracolumbar procedure solutions to certain U.S. accounts. Further, Orthofix will invest $10 million in Neo Medical to support the ongoing partnership.
“We are very excited about the partnership with Neo Medical as we believe it will accelerate our efforts to provide innovative patient-centric procedural solutions that improve outcomes, reduce costs, lower the carbon footprint of reusable instrumentation and increase the applicability of procedures across all surgical settings,” said Orthofix President and Chief Executive Officer Jon Serbousek. “We believe there is also a strong value proposition in adapting procedural technology to accommodate the outpatient setting and we have already created initiatives towards optimizing procedural solutions for these facilities.”
“We are very pleased to partner with Orthofix, who is emerging as an innovative leader in Spine, to help them bring disruptive, sustainable and outcome-driven innovations to the market,” said Neo Medical SA Chief Executive Officer Vincent Lefauconnier. “The partnership with Orthofix will accelerate our expansion in the U.S. market, delivering our current proven solution designed to enhance efficacy and improve patient outcomes while minimizing infections in thoracolumbar fusion procedures.”