Trice Medical will acquire SegWAY Orthopaedics, provider of minimally invasive systems to treat the extremities, such as the Endoscopic Carpal Tunnel Release device. Other products in the SegWAY portfolio address cubital tunnel syndrome, gastrocnemius equinus contracture and plantar fasciitis.
The move complements Trice's diagnostic technology, the mi-eye™ disposable arthroscopic camera. Together the companies seek to effect efficient, cost-positive solutions through use of diagnostics, small instruments and minimal use of anesthesia.
"The SegWAY acquisition transforms Trice Medical into the first company that offers both minimally invasive orthopedic diagnostic and surgical solutions,” said Jeffrey O’Donnell Sr., CEO of Trice Medical. “We’re looking forward to integrating the SegWAY offerings and building on our combined strengths. One of the areas we’re looking at is using our minimally invasive camera technology in the operating room as well."
Last month, Trice announced closure of a US $18.3MM Series C Extension financing round. Proceeds will support worldwide product commercialization and development. The company plans to enter large multinational partnerships, per leadership comments.
Image courtesy of Trice Medical