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Johnson & Johnson’s (NYSE:JNJ) DePuy Synthes — through its Synthes GmbH affiliate — announced today that it acquired OrthoSpin.
Israel-based OrthoSpin develops a robot-assisted external fixation system for orthopedic treatments. The platform is used in conjunction with DePuy Synthes’ Maxframe multi-axial correction system, an external ring fixation system.
OrthoSpin received FDA clearance for its second generation, robotic, digitally-enabled G2 external fixation system in January of this year.
According to a news release, the acquisition highlights J&J’s efforts to advance innovation in medtech, with the company having kept tabs on OrthoSpin over the years. OrthoSpin raised $3 million for the external fixation system in a July 2018 Series A funding round led by J&J. The company also led OrthoSpin’s Series B in March 2020.
DePuy Synthes introduced its Maxframe system in 2017 and recently launched new frame innovations and planned next-generation software. Company officials think the OrthoSpin acquisition makes DePuy better positioned to serve healthcare professionals and patients in the complex post-surgery recovery period.
With the acquisition complete, DePuy Synthes plans to integrate OrthoSpin and develop a supply chain before making the product widely available in the “near future.” The financial terms of the acquisition were not disclosed.
“DePuy Synthes is deeply committed to patients who are in need of deformity correction surgery,” DePuy Synthes Worldwide President of Trauma, Extremities, Craniomaxillofacial and Animal Health Oray Boston said in the release. “The acquisition of OrthoSpin clearly demonstrates our strong desire to help these patients navigate their recovery with more confidence and less uncertainty with their strut adjustments.
“It also demonstrates our commitment to bringing transformative medtech advancements to the industry through the application of automated technology that addresses a wide range of orthopaedic challenges.”
J&J earlier this year announced the FDA clearance and U.S. launch of its Velys robot-assisted knee replacement system.
Filed Under: Business/Financial News, Featured, Mergers & Acquisitions, News Well, Orthopedics, Robotics, Surgical Tagged With: DePuy Synthes, Johnson & Johnson, OrthoSpin
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