Spine Wave acquires expandable Ti interbody cage technology from Santa Clara Technology Inc.
Spine Wave Announces Growth of Product Portfolio (press release)
Spine Wave, Inc. today announced the addition of two new offerings within its expandable product portfolio. Spine Wave has completed a definitive agreement to acquire Santa Clara Technology Inc. The versatile technology developed by SCT provides a unique expandable titanium interbody cage platform, which can be used in a variety of clinical applications. Additionally, Spine Wave has initiated the limited market release of the StaXx(R) XD 15 degrees Lordotic Expandable Device.
“The acquisition of Santa Clara Technology is another step forward in our strategy to broaden our pipeline of innovative and highly differentiated clinical solutions for spine surgery. Their technology complements ourbexisting expandable offerings, while the addition of Hugues Malandain, Santa Clara Technology CEO, strengthens our already accomplished product development team,” said John Pafford, Spine Wave Chief Technology Officer. “Santa Clara Technology is a great fit within Spine Wave,” said Mr. Malandain. “We wanted to align our novel technologies with a high-growth company that understands the clinical benefits of expandabl technologies and Spine Wave is a clear leader in that respect. I look forward to becoming a part of the Spine Wave team.”
Additionally, Mr. Pafford commented that “the Company is initiating a limited market release of the StaXx(R) XD 15 degrees Lordotic Expandable Device to provide spine surgeons with a novel clinical approach to address sagittal balance with a less invasive means to achieving segmental lordosis. We are excited about the potential for this technology and expect full commercialization of this important device in early 2013.”
“In 2012 we have been able to achieve significant revenue growth through a rapid expansion of our independent distribution network,” said Mark LoGuidice, Spine Wave Chairman and CEO. “Through internal development efforts, the SCT acquisition, and in collaboration with the Memphis based R&D company, MB Innovations, we expect to introduce several important and novel product solutions in 2013 and beyond. The robust R&D pipeline and the continued focus on expanding our distribution channel has us very excited about our future growth opportunities.”