NEW YORK and PARIS, July 6 /PRNewswire/ -- HealthPoint Partners L.P., the private equity affiliate of HealthpointCapital, and Scient’x S.A., the spinal implant subsidiary of the French company, Ideal Medical Products, announced today that a HealthpointCapital subsidiary has acquired a 33% ownership interest in Scient’x S.A.
This investment represents HealthPoint’s first investment in the spinal implant industry. Scient’x, is one of the leading innovators of motion preservation in spinal implants. The company was granted the first 510(k) approval for a semi-rigid fixation device as an adjunct to fusion, the Isobar TTL system. In addition, Scient’x is initiating U.S. trials for a second generation cervical disc arthroplasty system.
“We call motion preservation ‘the future of spinal implants’ because we believe it will prove to be the best new treatment for severe back pain in decades,” said John Foster, HealthPoint Partner Chairman and CEO. “We look forward to applying our extensive industry resources to bring to the market information regarding the benefits and risks of motion preservation as well as to address the growing concern over adjacent level disease. We believe the Scient’x line of motion preservation and dynamic stabilization products has the potential to give patients important treatment options that other competitors cannot match.”
“This is an exciting alliance for Scient’x and an important step forward in Scient’x’s worldwide expansion, with a particular emphasis on our opportunities in the United States,” said Olivier Carli, President-Directeur General of both Scient’x and Ideal Medical Products. “Together with HealthpointCapital, we will be able to apply our technologies to the needs of all U.S. spine patients. All of us at Scient’x look forward to playing a role with HealthPoint in advancing the art and science of spinal surgery and dramatically improving patient quality of life.”
About HealthpointCapital: Founded in 2002 and headquartered in New York City, HealthpointCapital is a private equity fund focused exclusively on the $20 billion worldwide orthopedic device industry. The Fund is the premier source for orthopedic companies that require growth capital as well as strategic advice and guidance. HealthPoint’s execution team has over 50 years of combined experience investing and growing companies and is headed by John Foster who has managed seven previous funds.
About Scient’x: Scient’x designs, develops, and markets spinal implant devices for the lumbar, thoracic, and cervical spine. The Company’s products are designed to provide stabilization and correction to the spine in patients with degenerative disease, tumors, scoliosis, and injuries from trauma. Scient’x markets its products in Europe, the United States, the Middle East, Asia, and Australia. The Company initiated an aggressive growth strategy in the United States with the launch of its wholly owned Scient’x USA subsidiary in 2002. Scient’x is based outside of Paris in Guyancourt, France.
HealthpointCapital, LLC.
CONTACT: Media, John Foster, +1-212-935-7780, orjfoster@HealthPointGroup.com, or Tim Berkowitz, +1-212-935-7780, ortberkowitz@HealthPointGroup.com, both of HealthpointCapital; or Olivier Carliof Scient’x, +33-1-34-52-70-80, or carli@ideal-medical.com
