The Swiss startup Neo Medical and global medical devices company Orthofix Medical Inc. have announced a partnership to develop and market single-use, sterile-packaged spinal solutions. Orthofix is also investing $10 million in Neo Medical to support the ongoing partnership.
Neo Medical, a Medtech company based in canton Vaud is developing a new generation of products for spinal surgery. With only five multi-functional instruments covering most spine indications in a universal approach, the unique proprietary features of Neo Medical solutions ensure an anatomically neutral, balanced, and stable spine load-bearing, to achieve a Functional Fusion. Beyond providing solutions tailored to patients’ needs, the Neo Medical value-based care approach participates in preserving the overall environmental sustainability of the broader healthcare system.
The company has entered a partnership with Orthofix Medical Inc., a global medical device company focused on musculoskeletal healing products distributed in more than 70 countries. The collaboration concentrates on the development of a cervical platform and deploying single-use, sterile-packed procedure instrumentation for cervical spine procedures. Such instruments are ideal for all surgical settings, including acute care hospitals, outpatient hospitals and also ambulatory surgery centres, which are rapidly growing as a preferred site of care for spine procedures. The new solution thus aims to increase operating room efficiencies, reduce procedural times and costs, improve patient outcomes through novel device designs and techniques, and reduce infection rates.
Distribution and investment agreement
Under the agreement, Orthofix will also exclusively distribute Neo Medical’s disruptive value-based thoracolumbar procedure solutions to certain US accounts. Additionally, Orthofix is investing $10 million in Neo Medical to support the ongoing partnership, through a combination of a convertible term loan and equity investment.
“We are very pleased to partner with Orthofix, who is emerging as an innovative leader in Spine, to help them bring disruptive, sustainable and outcome-driven innovations to the market,” said Neo Medical SA Chief Executive Officer Vincent Lefauconnier. “The partnership with Orthofix will accelerate our expansion in the US market, delivering our current proven solution designed to enhance efficacy and improve patient outcomes while minimizing infections in thoracolumbar fusion procedures.”
(Press release/RAN)
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