28 May Conventus Orthopaedics, Inc. Announces Acquisition of Flower Orthopedics
MINNEAPOLIS, May 27, 2020 /PRNewswire/ — Conventus Orthopaedics, Inc. today announced it has completed the acquisition of Flower Orthopedics, the market leader in Ready-for-Surgery™ single use, sterile-packaged, implant and instrument kits.
The state-of-the-art sterile FlowerCube™ system eliminates expensive set processing, which enables surgical facilities to complete back-to-back cases, enhance efficiencies, and maximize resources. In addition to a robust fixation portfolio, Flower’s continuum of care also extends into the fast-growing wound care market for both orthopedic & podiatric surgeons.
Conventus Orthopaedics pioneered the platform nitinol CAGE™ technology to treat proximal humerus and distal radius fractures with unmatched stability & reduced complications compared to plating. The Conventus lower extremity CAGE™ implant system is currently in development along with a new and innovative distal fibula intramedullary nailing system. Both are expected to accelerate time to weight bearing while reducing complications.
Rick Epstein, Chief Executive Officer of Conventus, commented, “Flower is an excellent strategic fit with Conventus. With ongoing concerns over viral and infection risks associated with heavy reusable orthopedic implant trays, Flower’s Ready-for-Surgery™ platform reduces exposure to bioburden while enhancing OR efficiencies. We will continue to develop and acquire innovative products and companies that improve procedures, patient outcomes and safety for orthopedic and foot & ankle surgeons.”
Andrew ElBardissi, MD, Partner at Deerfield Management stated that, “We are excited about the progress that Conventus has made over the past year. With the acquisition of Flower Orthopedics, we believe the company is positioned to be a leader in the development of innovative orthopedic technologies. We look forward to supporting the company’s continued growth.”
Conventus intends to continue to aggressively pursue new and innovative orthopedic technologies that are clinically relevant to surgeons, hospitals, and ambulatory surgery centers.
About Deerfield Management
Deerfield is an investment management firm committed to advancing healthcare through investment, information and philanthropy. For more information, please visit www.Deerfield.com.
About Flower Orthopedics
Flower Orthopedics is the market leader in Ready-for-Surgery™ sterile-packaged implants that feature the patented Flower Locking System. Each implant is matched with a revolutionary sterile-packaged, single-use Flower Instrument Kit. To learn more about all of Flower’s products, including wound care and allografts, please visit www.FlowerOrtho.com.
About Conventus Orthopedics
Conventus Orthopaedics, Inc. is a commercial stage orthopedic company focused on delivering a new standard of care for extremity trauma, lower extremity orthopedic and wound care solutions where there is a significant unmet need or a lack of treatment options. To learn more, please visit www.ConventusOrtho.com.
SOURCE: Conventus Orthopaedics, Inc., PR Newswire, 27th May 2020