Conventus Orthopaedics acquired all assets of IntraFuse, including proprietary intramedullary implants for the minimally invasive repair of fibula and other fractures. The move marks the first step of Conventus' intended expansion into lower extremity orthopedics. Transaction details were not disclosed.
IntraFuse's FlexThread™ implants are FDA-cleared and protected by five issued and eight pending patents. The company is a start-up incubated by Surgical Frontiers.
"Conventus is enthusiastic to expand beyond our innovative CAGE technology portfolio," said Rick Epstein, CEO. "The FlexThread technology offers unique, minimally invasive and easy to use intramedullary products for small bone fractures. These products complement our intramedullary CAGE products for large bone peri-articular fractures. With the backing of our lead investor, Deerfield Management, this acquisition is a first step of what will be an aggressive transformation from a single product company into a formidable orthopaedic supplier. I have high expectations for continued business development activity coupled with development of proprietary devices."
Additional transactions are expected in the future to support the company's growth.
"The IntraFuse acquisition shows our commitment to support Conventus in execution of strategic portfolio development," said Andrew ElBardissi, MD, Partner at Deerfield Management. "We are excited to see their portfolio strengthened with the FlexThread technology and look forward to Conventus' continued expansion through acquisitions and internal development."
Julie A. Vetalice is ORTHOWORLD's Editorial Assistant.