EAST TAUNTON, Mass., March 9 Orthopaedic Synergy, Inc., is pleased to announce that it has entered into a letter of intent and period of exclusivity to acquire Praxim, SA of France.
"The acquisition of Praxim SA will represent a continuation of the philosophy of the Orthopaedic Synergy group that good companies can be brought together and managed so that the combination of their individual strengths produce shorter product development cycles and more rapid growth in sales than each company could deliver on its own," Nik Nikolaev, Chairman of Orthopaedic Synergy. George Cipolletti, CEO and President of OMNIlife science states, "Combining OMNI's advanced orthopaedic implant and instrument products with Enztec, Ltd's instrument design capability, has already increased our ability to satisfy our customers' needs and increase our sales. Adding Praxim's proprietary computer and robotic assisted surgery technology to the mix will serve to further accelerate this process both in the U.S. as well as in international markets."
"We believe that the OMNIlife science, Inc. product portfolio represents state of the art technology in Knee and Hip replacement and we are confident that our staff and technology and will be in good hands. We look forward to watching OMNI, Enztec and Praxim work under the Orthopaedic Synergy banner to enhance our technology offerings as well as dramatically increase the profile and acceptance of our highly advanced proprietary computer and robotic assisted surgical techniques in orthopaedic joint replacement surgery," Christian Joly, CEO of Praxim, SA.
About Orthopaedic Synergy, Inc.
Orthopaedic Synergy, Inc. functions as a holding company for OMNIlife Science, Inc. and Enztec, Ltd. Together these companies represent a global reconstructive orthopaedic concern that is committed to the design, manufacture and distribution of high quality orthopaedic devices. Our corporate strategic objectives include continued growth through strategic acquisition of companies with complementary technology to enhance the development of line extensions to our company's current product offerings as well as the introduction of new products that will allow us to provide new and improved clinical options for our customers.
About Praxim, SA
Praxim develops and commercializes advanced automated systems, software and instruments used by surgeons in the operating room to make total joint arthroplasty less-invasive, faster, more reliable and cost-effective for both patients and surgeons. The Company's technology platforms such as the I-block surgical robot, Nano-station Computerized Surgical navigation system, and Nano-block manual surgical instruments for computer assisted surgery address key issues associated with conventional joint replacement surgical procedures - including incorrect sizing and positioning of joint replacement components that can lead to misalignments of bones ultimately leading to joint replacement failure. These can be avoided by providing highly innovative imaging protocols and advanced smart instrumentation in the operating room.
SOURCE Orthopaedic Synergy, Inc.