Pioneer Surgical Technology Announces Agreement to Acquire Exclusive Access to the Cequence(TM) Cervical Plate System From SpineSmith
10/8/2010 11:11:27 AM
MARQUETTE, Mich., Oct. 8 /PRNewswire/ -- Pioneer Surgical Technology, Inc. and SpineSmith, LP are pleased to announce a deal in which Pioneer Surgical will acquire exclusive rights to manufacture and distribute the Cequence anterior cervical plate. As part of the agreement, Pioneer Surgical will become the manufacturer of record and offer the Cequence system through its existing sales network, while adding SpineSmith as a distributor. "We are very excited about the opportunity that this product represents to Pioneer," said Jeff Millin, Pioneer Surgical CEO. "Cequence will play an immediate and strategic role in our efforts to expand our portfolio of spine products, providing greater service to our existing and future customers."
The agreement was effective October 6, 2010.
The Cequence anterior cervical plate features a simple, strong and reliable screw locking mechanism, multiple screw options and an intuitive set of instruments designed for efficient implantation. "This deal is a win for both companies," commented Kevin Dunworth, SpineSmith CEO. "It enables SpineSmith to expand sales of Cequence and accelerate the development of innovative products. In the two years that Cequence has been on the market we have seen a high level of interest and adoption among our surgeon customers. We look forward to Cequence realizing its potential."
About Pioneer Surgical Technology
Pioneer® Surgical Technology, Inc. is a dynamic medical device firm founded in 1992. Pioneer's focus on innovation has resulted in over 130 U.S. and foreign patents, with numerous patents pending. The company has a comprehensive portfolio of orthopedic, spine and biologic systems. Pioneer entered the orthobiologics market with two acquisitions in 2007. Our Orthopedic, Spine, and Biologic Divisions produce state of the art, cost-effective solutions for surgical procedures that have proven difficult or problematic for both surgeons and patients. Pioneer employs more than 270 people worldwide. For more information on Pioneer and its products visit www.pioneersurgical.com.
About SpineSmith Partners, LP
Founded in Austin, Texas, in 2006, SpineSmith Partners, LP designs, develops and markets implants and biologics for surgical fixation, correction and tissue regeneration of the spine. SpineSmith takes a different approach from other companies, utilizing a collaborative approach between scientists, engineers and spine surgeons. It's this unique approach that gives spine surgeons the ability to directly impact the direction of their product portfolio, ensuring applicability and achieving the highest standards of patient care. www.spinesmithusa.com
SOURCE Pioneer Surgical Technology, Inc.