Renovis Surgical Technologies, Inc. (President: Dr. John Steinmann), a U.S.-based orthopedic and spinal medical device manufacturer and developer, today announced that it has finalized an agreement to sell major assets related to its artificial joint, trauma and spinal product businesses to Kyocera International, Inc., based in San Diego, California.
The assets will be transferred into a new California-based company, wholly owned by Kyocera International, Inc., to be named Kyocera Medical Technologies, Inc., in March 2019.
Background and Overview
Renovis, founded in 2009, is a market leader in 3D-printed implants, and has developed a broad portfolio of innovative products for the U.S. market, serving the needs of orthopedic, neurological, and trauma surgeons. Renovis has experienced steady growth since its inception and has continued to develop and commercialize a wide range of products manufactured using the company’s Tesera® Trabecular Technology, a proprietary implant surface structure, made using Additive Manufacturing. In addition, Renovis has developed an advanced bearing surface technology for joint replacement products. Kyocera’s global strength and expansive research and development capabilities will accelerate the growth of these valuable technologies.
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The U.S. orthopedic implant market totals approximately US$20 billion, representing about 60% of the global market, with continued growth expected.* Kyocera currently manufactures medical products such as artificial joints and dental implants primarily for sale in Japan. To grow internationally, Kyocera obtained U.S. FDA 510(k) clearance for its artificial hip joints and began selling them in the U.S. in 2017.
Kyocera plans to expand its U.S. medical equipment business through this asset purchase. The newly established company will develop high-value products that improve patient health and quality of life through synergies between Kyocera’s proprietary technologies and those purchased from Renovis.
* Based on third-party research as of December 2018
Date: January 21, 2019
Source: Yahoo Finance
