Johnson & Johnson's DePuy Synthes Buys Technology From Interventional Spine for Undisclosed Sum
RAYNHAM, Mass., Jan. 3, 2017 /PRNewswire/ -- DePuy Synthes Products, Inc., part of the Johnson & Johnson Family of Companies, announced today an asset purchase and development agreement with Interventional Spine, Inc., a privately held manufacturer of expandable cage and minimally invasive surgery (MIS) technologies for spinal fusion. The Interventional Spine agreement is the latest example of the Johnson & Johnson Medical Devices strategy of investing in innovation in key platforms that will drive future growth. Financial terms of the transaction have not been disclosed.
With Interventional Spine's technology, DePuy Synthes will add a family of expandable cages, which are used in spinal fusion surgery to restore the natural disc height, to the company's core spine platform. Interventional Spine's expandable cage technology provides optimal tactile feedback for the surgeon, and features a continuously adjustable design that allows the surgeon to customize the device height to the patient's anatomy. The implants are designed to maximize bone graft contact and containment, which helps promote bone growth and fusion. DePuy Synthes will significantly expand access to this technology by leveraging its global sales network. Interventional Spine currently serves healthcare professionals in the United States and select international markets.
"DePuy Synthes and Interventional Spine have a common goaladvancing spinal care for patients with debilitating degenerative disc disease and expanding access to this important technology globally," said Ciro Römer, Company Group Chairman, DePuy Synthes. "Through this collaboration with Interventional Spine, we will broaden our product offering in a strategic platform and reach more customers and patients around the world."
DePuy Synthes is also acquiring Interventional Spine's facet screw system for open and percutaneous spine surgery, a type of MIS that uses small skin incisions without cutting the underlying muscle, which can help reduce the risk of complications and improve outcomes in spinal fusion surgery.1
DePuy Synthes has the second largest spine business in the world with a broad portfolio of spinal care solutions, including treatments for aging spine, less invasive surgery, scoliosis, degenerative disc disease, care delivery innovation and enabling technologies.
About DePuy Synthes Companies
DePuy Synthes Companies, part of the Johnson & Johnson Family of Companies, provides one of the most comprehensive orthopaedics portfolios in the world. DePuy Synthes Companies solutions, in specialties including joint reconstruction, trauma, craniomaxillofacial, spinal surgery and sports medicine, are designed to advance patient care while delivering clinical and economic value to health care systems worldwide. For more information, visit www.depuysynthes.com.
Cautions Concerning Forward-Looking Statements
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 related to an acquisition of assets and development of Interventional Spine's expandable cage and minimally invasive surgery technologies. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of DePuy Synthes Products, Inc., the DePuy Synthes Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges related to integrating Interventional Spine's products and technologies and ensuring their continued performance and market growth; the potential that the expected benefits and opportunities related to the transaction may not be realized or may take longer to realize than expected; challenges inherent in product development, including the uncertainty of clinical outcomes and commercial success; competition, including technological advances, new products and patents attained by competitors; the ability of DePuy Synthes to successfully execute strategic plans; challenges to patents; changes to applicable laws and regulations, including tax laws; changes in behavior and spending patterns of purchasers of health care products and services; global health care reforms and trends toward health care cost containment. A further list and description of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 3, 2016, including in Exhibit 99 thereto, and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. The DePuy Synthes Companies and Johnson & Johnson do not undertake to update any forward-looking statement as a result of new information or future events or developments.
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©DePuy Synthes 2017. All rights reserved.
1 Barbagallo, G. et al. Percutaneous minimally invasive versus open spine surgery in the treatment of fractures of the thoracolumbar junction: a comparative effectiveness review. Evidence-Based Spine-Care Journal. Volume 3/Issue 3 (2012): 43-49.
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SOURCE DePuy Synthes