Tornier to Expand Extremities Franchise through Acquisition of Nexa Orthopedics.EDEN PRAIRIE Eden Prairie A city of eastern Minnesota, a residential suburb of Minneapolis. Population: 57,300. , Minn. -- Tornier announced today that it has signed a definitive agreement to acquire Nexa Orthopedics, a privately held, California based company that develops, manufactures, and markets medical devices for orthopedic and podiatric surgeons. The acquisition of Nexa represents a significant expansion of Tornier's product portfolio for surgeons performing procedures on the extremities (shoulder, arm, hand, foot and ankle). Nexa also will expand Tornier's technology base with new implantable device materials and coatings. Under the terms of the agreement, Tornier will acquire 100% of the fully diluted equity of Nexa. Tornier's agreement with Nexa is subject to governmental regulatory review and other customary closing conditions. Until receipt of regulatory approval, the acquisition will not be able to close, although Tornier presently anticipates that closing may occur in the first quarter of 2007. Further terms of the acquisition are not available. Doug Kohrs, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Tornier, commented, "We are very excited about the prospect of the Nexa team and its products joining Tornier. This acquisition reinforces our commitment to bring innovative products and technology to the dynamic and underserved extremities market place." Paul Nichols, President and CEO of Nexa, commented, "Tornier's strong global franchise in total joint arthroplasty total joint arthroplasty n. Arthroplasty in which both joint surfaces are replaced with artificial materials, usually metal and high-density plastic. and most recently, ankle arthroplasty in the United States, is an ideal platform from which to maximize the potential of the proprietary technology and products developed by Nexa in recent years." About Tornier: Tornier develops and markets medical devices designed to restore joint function and return patients to an active and healthy lifestyle. The company's innovative extremity products include the Aequalis cemented, press fit, and reversed shoulder arthroplasty prostheses Prostheses A synthetic object that resembles a missing anatomical part. Mentioned in: Microphthalmia and Anophthalmia , a proximal humeral hu·mer·al adj. 1. Of, relating to, or located in the region of the humerus or the shoulder. 2. Relating to or being a body part analogous to the humerus. humeral of or pertaining to the humerus. fracture treatment system, a shoulder resurfacing head as well as elbow, ankle, and radial head prostheses. About Nexa: Nexa Orthopedics, Inc. was founded in 2004 by HealthpointCapital to create the preeminent company in extremities surgery through a program of business investments, technology in-licensing and internal development. Nexa currently markets the NexFix internal fixation internal fixation n. The stabilization of fractured bony parts by direct fixation to one another with surgical wires, screws, pins, or plates. system for foot and ankle surgery Foot and Ankle Surgery is the sub-specialty of orthopedics surgery that deals with the treatment, diagnosis and prevention of disorders of the foot and ankle. Foot and ankle surgeons differ from podiatrist in that foot and ankle surgeons have received a medical doctorate and have , the Osteocure[TM] line of biologic products, the BioProfile range of pyrocarbon implants for the upper extremity upper extremity n. The shoulder, arm, forearm, wrist, or hand. Also called superior limb, thoracic limb. and the Futura podiatric surgery product line. For more information regarding Tornier and its novel U.S. product line, visit our website at www.tornier-us.com. For more information about Nexa Orthopedics, visit www.nexaortho.com. |
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