KYOCERA acquires Renovis Surgical Technologies as as asset purchase
NOTE: Kyocera purchased 100% of assets of Renovis but not the company to sidestep any PODs issues.
Kyocera Corporation (President: Hideo Tanimoto) today announced that its U.S. headquarters, Kyocera International, Inc., has finalized an agreement with Renovis Surgical Technologies, Inc. (herein “Renovis”), a U.S.-based orthopedic and spinal medical device manufacturer and developer, to purchase the major assets of Renovis’ business operations relating to artificial joint and spinal products.
The assets will be transferred into a new California-based company wholly owned by Kyocera International, Inc., to be named Kyocera Medical Technologies, Inc., in March 2019.
Background and Overview
Kyocera currently manufactures medical products, including artificial joints and dental implants, primarily for the Japanese market. The U.S. orthopedic implant market totals approximately US$20 billion, representing about 60% of the global market, with continued growth expected.* To grow internationally, Kyocera obtained U.S. FDA 510(k) clearance for its artificial hip joints and began selling them in the U.S. in 2017.
Renovis, founded in 2009, is a market leader in 3D-printed implants, and has developed a broad portfolio of innovative products for the U.S. market, serving the needs of orthopedic, neurological, and trauma surgeons. Renovis has experienced steady growth since its inception and has continued to develop and commercialize a wide range of products manufactured using its Tesera Trabecular Technology, a proprietary implant surface structure made using additive manufacturing. In addition, Renovis has developed an advanced bearing surface technology for joint replacement products. Kyocera’s global strength and expansive research and development capabilities will accelerate the growth of these valuable technologies.
Kyocera plans to expand its U.S. medical equipment business through this asset purchase. The newly established company will develop high value-added products that improve patient health and quality of life through synergies between Kyocera’s proprietary technologies and those purchased from Renovis.
* Based on third-party research as of December 2018
Overview of Renovis
|Company name||Renovis Surgical Technologies, Inc.|
|Location||Headquarters: Redlands, California, U.S.A.|
Development center: Austin, Texas, U.S.A.
|President and CEO||John C. Steinmann|
|Employees||44 (as of December 31, 2018)|