Medtronic is shoring up its orthopedic biologics business through the acquisition of demineralized bone matrix marketer Osteotech for $123 million.
Medtronic Expands Ortho Biologics Presence With Osteotech Acquisition
Article preview from "The Gray Sheet" - August 18, 2010
"This acquisition represents a key step in Medtronic's strategy to build a broader business in regenerative biologics," according to Chris O'Connell, Medtronic executive VP and Restorative Therapies Group president.
It will also complement Medtronic Biologics' bone healing portfolio and expand its existing presence in spine, orthopedic trauma and dental into new areas such as joint reconstruction, foot and ankle, and sports medicine, according to the firm.
Osteotech products include MagniFuse bone graft, launched in 2009 as a competitor to Medtronic's InFuse recombinant human bone morphogenetic protein (rhBMP); MagniFuse is 510(k)-cleared for filling voids in the spine, pelvis and extremities ( 'The Gray Sheet' Nov. 17, 2008).
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