EAST TAUNTON, Mass., June 10 /PRNewswire/ — Orthopaedic Synergy, Inc., is pleased to announce that our acquisition of PRAXIM, SA, Grenoble, France was successfully completed on May 18, 2010.
“The acquisition of PRAXIM SA provides new opportunities for the Orthopaedic Synergy group to bring innovative operative techniques to the Orthopaedic surgeon. This event is indicative of our philosophy of bringing good companies together, while preserving the characteristics unique to each company’s culture. We believe that when managed in this fashion each company’s individual strengths can be preserved and combined with other member of the group to shorten product development cycles and increase sales. During the pre acquisition due diligence process we make certain that each company within the Orthopaedic Synergy family formulates a plan for integrating their strengths with the company being acquired in anticipation of future co-marketing and product development activities. In this way we believe that we can achieve faster sales growth for all of the companies within the group than if they had remained independent,” said Richard “Nik” Nikolaev, Chairman of Orthopaedic Synergy, Inc.
George Cipolletti, President and CEO of OMNIlife science, Inc. stated, “Combining OMNI’s advanced orthopaedic implant and instrument products with Enztec Ltd.’s instrument design capability, has already improved our ability to satisfy our customers’ needs and has increased sales of OMNI total joint implants. Adding PRAXIM’s proprietary computer navigation, and robotic assisted surgery technology to the mix will serve to further accelerate our sales growth in both U.S. and international markets.”
“This acquisition represents a tremendous opportunity for PRAXIM and OMNI to speed up the development and commercialization of very exciting new technology,” says David LaSalle, who was recently appointed by Orthopaedic Synergy to serve as President and CEO of PRAXIM SA.
About Orthopaedic Synergy, Inc.
Orthopaedic Synergy, Inc. functions as a holding company for OMNIlife Science, Inc., Enztec Limited and PRAXIM SA. 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 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 innovative new products that provide 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 more effective. 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. We believe that these complications can be avoided by providing highly innovative imaging protocols and advanced smart instrumentation in the operating room.
