Orthofix and Neo Medical Announce Partnership

Lewisville, Texas-based Orthofix Medical Inc. and Villette, Switzerland-based Neo Medical SA have entered into a partnership and investment agreement to develop and market single-use spinal solutions.

Orthofix is a medical device company with products distributed in more than 70 countries across the globe. Orthofix is committed to improving the lives of patients through its reconstruction and regenerative spine and extremity solutions.

Neo Medical is a medical technology company focused on developing products for spinal surgery. Neo Medical’s solutions help spine surgeons to limit stress overload on patients’ spines.

Together the companies will concentrate on creating a “cervical platform and deploying single-use, sterile-packed procedure solutions designed to increase operating room efficiencies, reduce procedural times and costs, improve patient outcomes through novel device designs and techniques, and reduce infection rates.” This venture includes the co-development of single-use instruments for cervical spine procedures.

Orthofix President and CEO Jon Serbousek commented on the partnership, “We are very excited about the partnership with Neo Medical as we believe it will accelerate our efforts to provide innovative patient-centric procedural solutions that improve outcomes, reduce costs, lower the carbon footprint of reusable instrumentation and increase the applicability of procedures across all surgical settings.”

Neo Medical CEO Vincent Lefauconnier was similarly pleased with the partnership. Lefauconnier said, “We are very pleased to partner with Orthofix, who is emerging as an innovative leader in Spine, to help them bring disruptive, sustainable and outcome-driven innovations to the market.”

The deal has additional terms. Per the agreement, Orthofix will exclusively distribute Neo Medical’s thoracolumbar procedure solutions to specific accounts in the United States. Furthermore, Orthofix will invest $10 million in Neo Medical. This investment will support the ongoing partnership “through a combination of a convertible term loan and an equity investment.”

Lefauconnier also discussed how the partnership will impact Neo Medical’s growth. Lefauconnier explained, “The partnership with Orthofix will accelerate our expansion in the U.S. market, delivering our current proven solution designed to enhance efficacy and improve patient outcomes while minimizing infections in thoracolumbar fusion procedures.”