Safe Orthopaedics entered into an exclusive commercialization and distribution agreement in Japan with KiSCO, developer of spinal and trauma devices.
Terms include a milestone payment in cash upon the receipt of approval for Safe Orthopaedics' SteriSpine products on the Japanese market, which is expected in 2019. Safe Ortho has also received a capital infusion from KiSCO.
The deal supports Safe Ortho's strategy to expand geographically. Earlier this month, the company acquired the salesforce of Qspine, its U.K. distributor since 2014. Sales there are expected to begin contributing to growth in 2H18.
Sources: Safe Orthopaedics; ORTHOWORLD Inc.