06 Aug WishBone Medical Announces Sterile Spine Offerings With New Acquisitions
Proprietary Technologies and New Partnerships Work to Raise the Bar for Pediatric Spine Solutions.
WARSAW, Ind., Aug. 05, 2020 (GLOBE NEWSWIRE) — WishBone Medical Inc., pediatric orthopedic company focused globally on the unmet needs of children suffering from orthopedic issues, today announced its 5th and 6th strategic acquisition in the past 18 months by acquiring substantially all assets of Back 2 Basics Direct (B2B) and Orbbö Surgical, two privately-held medical device companies focused on research, development and commercialization of sterile packaged implants and surgical instruments for spinal fusion.
“These acquisitions strengthen WishBone’s position in the pediatric orthopedic market with the addition of nine (9) FDA cleared, sterile packaged, spinal fusion product lines with year one revenue projections in excess of $12M,” stated Dr. Robert Wertz, Global VP of Market Development, Spine & Sports Medicine, WishBone Medical. “Also, our go-to-market plans include the addition of Back 2 Basics’ enhanced carbon composite biomaterials platform to our product development roadmap which will allow us to deliver an innovative pipeline of highly differentiated and disruptive technologies across our entire pediatric implant portfolio.”
Kevin Blue, Chief Revenue Officer of WishBone Medical, added, “Our entry into the pediatric spine segment marks yet another important milestone in our company’s history. We’re always looking to provide highly differentiated products that deliver clinical benefits with the potential to dramatically improve the lives of pediatric patients worldwide. These latest transactions will continue to position WishBone as the leading provider of sterile packed, anatomically appropriate procedure kits in the wake of the COVID-19 era.”
“We’re excited to join WishBone to further develop and commercialize our carbon composite technology platform as they bring to bear industry leading product innovation,” commented Louis Keppler, MD, Co-Founder of B2B. “Since 2015, our goal has been to improve surgical outcomes and expand indications with this disruptive technology. Together, we will better serve the market and change the lives of children everywhere.”
WishBone’s vertically integrated subsidiary, Red Star Medical Solutions (RSMS), provides the company with a key competitive advantage and dominant position within the $2.5B global pediatric orthopedic market by reducing time to market up to 65%* with in-house rapid prototyping, advanced manufacturing platforms and sterile packaging capabilities. RSMS is in discussion with the Indiana Economic Development Corporation (IEDC) to expand two of its production facilities in Whitley- and Marshall County, IN. WishBone will add to its global team of 165 with 20 new employees dedicated to the spine market segment and commercialize a full spectrum, enhanced carbon composite fiber product line for children who are still growing.
About Back 2 Basics
Based in Independence, Ohio, Back 2 Basics (B2B) was founded in 2015 by two board-certified, fellowship trained, orthopedic spine surgeons, Scot Miller, DO, MBA, and Louis Keppler, MD. With a combined 75 years of treating pediatric and adult patients and developing enhanced carbon composite materials for orthopedic applications, B2B is a privately held, sterile packaged, spinal implant manufacturer dedicated to Surgeon Driven Surgical Solutions.
About Orbbö Surgical
Based in Los Angeles, CA, Orbbö Surgical is a spine company founded with a focus on all aspects of today’s healthcare environment. Orbbö Surgical’s sterile packaged business model is designed to reduce risk of post-operative infection and increase operational efficiency within hospitals and ASCs to address the economic challenges of today. This results in a value-based care partnership between Orbbö Surgical and its partners.
About WishBone Medical
WishBone Medical is a global pediatric orthopedic company, committed to providing anatomically appropriate innovative implants, instruments and biologics in single-use, sterile packed procedure kits, designed to prevent infection, reduce overall costs for customers and achieve the best outcomes for children around the world who are still growing. The WishBone Medical Family of Companies offers 42 product systems with operations in Warsaw, IN, Istanbul, and Singapore.
*Data on file
For further information, visit www.WishBoneMedical.com or call Kaitlyn Hughes, Director of Marketing & Communications, at +1-574-306-4006.
SOURCE: Globe Newswire, 5th August 2020