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Zimmer Biomet's (ZBH) Latest Deal to Expand Its Hip Portfolio
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Zimmer Biomet Holdings, Inc. (ZBH - Free Report) recently announced the signing of a definitive agreement to acquire OrthoGrid Systems, Inc., a privately-held medical technology company focused on artificial intelligence (AI)-driven surgical guidance systems for total hip replacement.
The acquisition comprises more than 40 patents, two additional orthopedic applications with FDA clearance, and Hip AI, OrthoGrid’s AI-powered, fluoroscopy-based surgical support platform. This acquisition is set to expand Zimmer Biomet’s hip portfolio with an AI-driven surgical guidance system.
More on OrthoGrid Acquisition
Surgical guiding systems frequently rely on CT-based imaging, which can lead to a backlog of CT exams and affect the productivity and efficiency of the operating room (OR). Real-time X-ray imaging is used in fluoroscopy-based surgical guiding, a technology that enhances surgical safety and accuracy by helping to guide treatments. Fluoroscopy-based systems, in contrast to CT scans, do not necessitate preoperative preparation, provide real-time navigation using the most recent images, and offer comfortable bedside access to motion imaging.
OrthoGrid's AI systems are likely to address the rapidly growing market demand for fluoroscopy-based surgical guidance solutions. It is also expected to strengthen Zimmer Biomet’s portfolio of hip offerings that drive intraoperative efficiencies and improve the quality of life for patients.
OrthoGrid's Hip AI system offers automatic leg length and offset measures, real-time image analysis, and recommendations for the best cup placement, all while keeping a minimal OR footprint. Surgeons can also customize Hip AI to fit their unique process and technique.
The transaction is subject to customary closing conditions and is expected to be completed by the end of the fourth quarter of 2024.
Other Developments in Musculoskeletal Space
Within the broader medical devices industry, several key players are involved in designing, manufacturing and marketing orthopedic reconstructive products, sports medicine, extremities and trauma products. These companies are also making other notable developments in their respective businesses.
Stryker Corporation (SYK - Free Report) , one of the world’s largest medical device companies operating in the global orthopedic market, recently entered into a definitive agreement to acquire care.ai, a privately held company specializing in AI-assisted virtual care workflows, smart room technology and ambient intelligence solutions.
Stryker alsoannounced the completion of the acquisition of MOLLI Surgical Inc., a privately held company specializing in the development of wire-free soft tissue localization technology for breast-conserving surgery. As a result of the acquisition, MOLLI’s portfolio is likely to boost Stryker’s commitment to advancing surgical solutions in breast cancer care.
Globus Medical (GMED - Free Report) , another medical device company that develops and commercializes healthcare solutions for patients with musculoskeletal disorders, recently announced the receipt of FDA 510(k) clearance for ExcelsiusFlex with Total Knee Arthroplasty application. Additionally, ACTIFY 3D Total Knee System, the latest in implant technology that will pair with ExcelsiusFlex, has also received 510(k) clearance.
GMED, during the first quarter of 2024, launched five new products, which are the DuraPro and VERZA power tool systems, the Reline 3D system for complex spinal deformity, the ANTHEM Distal Radius system with additional plating options and the ADIRA Aflex Plate system.
Orthofix (OFIX - Free Report) , a leading global spine and orthopedics company with a comprehensive portfolio of biologics, innovative spinal hardware and bone growth therapies, recently announced the receipt of FDA 510(k) clearance and the first U.S. implant of the Fitbone Transport and Lengthening System. The system is used to treat large bone defects in the femur and tibia due to trauma or infectious or malignant conditions.
In May, Orthofix announced the receipt of FDA 510(k) clearance to market its Rodeo Telescopic Nail. The nail implant is likely to stabilize the patient’s limb while also elongating (or telescoping) to accommodate the natural growth of pediatric patients.
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Zimmer Biomet's (ZBH) Latest Deal to Expand Its Hip Portfolio
Zimmer Biomet Holdings, Inc. (ZBH - Free Report) recently announced the signing of a definitive agreement to acquire OrthoGrid Systems, Inc., a privately-held medical technology company focused on artificial intelligence (AI)-driven surgical guidance systems for total hip replacement.
The acquisition comprises more than 40 patents, two additional orthopedic applications with FDA clearance, and Hip AI, OrthoGrid’s AI-powered, fluoroscopy-based surgical support platform. This acquisition is set to expand Zimmer Biomet’s hip portfolio with an AI-driven surgical guidance system.
More on OrthoGrid Acquisition
Surgical guiding systems frequently rely on CT-based imaging, which can lead to a backlog of CT exams and affect the productivity and efficiency of the operating room (OR). Real-time X-ray imaging is used in fluoroscopy-based surgical guiding, a technology that enhances surgical safety and accuracy by helping to guide treatments. Fluoroscopy-based systems, in contrast to CT scans, do not necessitate preoperative preparation, provide real-time navigation using the most recent images, and offer comfortable bedside access to motion imaging.
OrthoGrid's AI systems are likely to address the rapidly growing market demand for fluoroscopy-based surgical guidance solutions. It is also expected to strengthen Zimmer Biomet’s portfolio of hip offerings that drive intraoperative efficiencies and improve the quality of life for patients.
OrthoGrid's Hip AI system offers automatic leg length and offset measures, real-time image analysis, and recommendations for the best cup placement, all while keeping a minimal OR footprint. Surgeons can also customize Hip AI to fit their unique process and technique.
The transaction is subject to customary closing conditions and is expected to be completed by the end of the fourth quarter of 2024.
Other Developments in Musculoskeletal Space
Within the broader medical devices industry, several key players are involved in designing, manufacturing and marketing orthopedic reconstructive products, sports medicine, extremities and trauma products. These companies are also making other notable developments in their respective businesses.
Stryker Corporation (SYK - Free Report) , one of the world’s largest medical device companies operating in the global orthopedic market, recently entered into a definitive agreement to acquire care.ai, a privately held company specializing in AI-assisted virtual care workflows, smart room technology and ambient intelligence solutions.
Stryker alsoannounced the completion of the acquisition of MOLLI Surgical Inc., a privately held company specializing in the development of wire-free soft tissue localization technology for breast-conserving surgery. As a result of the acquisition, MOLLI’s portfolio is likely to boost Stryker’s commitment to advancing surgical solutions in breast cancer care.
Globus Medical (GMED - Free Report) , another medical device company that develops and commercializes healthcare solutions for patients with musculoskeletal disorders, recently announced the receipt of FDA 510(k) clearance for ExcelsiusFlex with Total Knee Arthroplasty application. Additionally, ACTIFY 3D Total Knee System, the latest in implant technology that will pair with ExcelsiusFlex, has also received 510(k) clearance.
GMED, during the first quarter of 2024, launched five new products, which are the DuraPro and VERZA power tool systems, the Reline 3D system for complex spinal deformity, the ANTHEM Distal Radius system with additional plating options and the ADIRA Aflex Plate system.
Orthofix (OFIX - Free Report) , a leading global spine and orthopedics company with a comprehensive portfolio of biologics, innovative spinal hardware and bone growth therapies, recently announced the receipt of FDA 510(k) clearance and the first U.S. implant of the Fitbone Transport and Lengthening System. The system is used to treat large bone defects in the femur and tibia due to trauma or infectious or malignant conditions.
In May, Orthofix announced the receipt of FDA 510(k) clearance to market its Rodeo Telescopic Nail. The nail implant is likely to stabilize the patient’s limb while also elongating (or telescoping) to accommodate the natural growth of pediatric patients.