LOGAN, Utah–(BUSINESS WIRE)–FlexFix, LLC, a VentureMD portfolio company, announces that it has completed the acquisition of certain intellectual property assets from Novalign Orthopaedic, Inc.
FlexFix is an early stage medical device company focused on commercializing its proprietary implantable “flexible-to-rigid” technologies in the orthopedic and spine markets. The acquired assets include numerous US and international patent filings that will further strengthen the company’s patent portfolio.
Based on data from the Agency for Healthcare Research and Quality, the annual number of diagnosed bone fractures in the U.S. is over 2 million and growing. Today, most of these bone fracture patients are commonly treated by one of two treatment options. One option is conservative care with immobilization of the fracture, where risks include fracture site maluniuon that can lead to compromised function and accelerated degenerative changes over time. The other option is an invasive open surgery to stabilize the fracture, requiring longer recovery times and associated with the typical risks of open surgery.
FlexFix is developing products that will provide surgeons with the option to treat those same patients with a minimally invasive, percutaneous fixation technique, potentially reducing morbidity, reducing recovery time and improving function over current treatment options.
According to Wade Fallin, interim CEO of FlexFix and Partner and CEO of VentureMD, “We are very pleased to have FlexFix as one of our portfolio companies currently under management by VentureMD, as it fits our vision for companies that can advance the standard of care for patients while concurrently reducing healthcare costs. We look forward to working with FlexFix to bring this promising technology to the market.”
FlexFix is a privately held, early stage medical device company that is dedicated to advancing minimally invasive solutions for treating bone fractures and providing bone stabilization. It’s products utilize is core technology of implantable “flexible-to-rigid” materials.
VentureMD (venturemd.com) is a seed stage medical device business accelerator. The company provides financial, human and intellectual capital to start-up medical device companies. Focused on the orthopedic, spine, endoscopy and dental markets, the company partners with entrepreneurs, inventors, technology transfer offices and seed stage start-ups to launch and manage new medical device companies.