London company buys O.C. medical software firm (Orange Co Register)
LifeModeler Inc., a San Clemente software company, has been acquired by the U.S. subsidiary of London-based Smith & Nephew, a medical technology company.
LifeModeler creates biomechanical human body simulation tools and services that can shorten the development of new ortopedic products. Smith & Nephew, with $4.3 billion in 2011 revenues, has used LifeModelers’ software to develop products over the past 10 years. Terms of the deal were not released.
LifeModeler’s flagship product LifeMOD, is a virtual human model that can walk, dance and even golf. Manufacturers of knee and spinal orthopedic devices use LifeMOD in product development and surgeons use it for virtual surgery practice before the actual surgery.
In 2010, Lifemodeler founder Shawn McGuan was named one of five Orange County Entrepreneurs of Excellence by Ernst & Young and the Orange County Business Journal.
McGuan said, “I will remain with the company, and my group will remain in San Clemente. The nice story here is I built this company from scratch and have now brought the presence of a multibillion dollar medical player to the small town of San Clemente.
“Smith & Nephew’s history of developing innovative medical technology and its increasing investment in R&D convinced us that this was the right opportunity to take our business forward.,” he continued. “We share a vision to bring forward new products that help clinicians improve the quality of life for patients.”
Gaurav Agarwal, Smith & Nephew senior vice president, said, “This addition will help us shorten the time it takes to safely deliver current product enhancements to the operating room, as well as helping us to develop the next generation of orthopedic implant innovations.”