July 10, 2018
LYON, France & NEW YORK–(BUSINESS WIRE)–The Medicrea® Group (Euronext Growth Paris: FR0004178572 – ALMED), pioneering the convergence of healthcare IT and next-generation, outcome-centered spinal device design with UNiD ASI™ (Adaptive Spine Intelligence) technology, announced today that the Company has signed a joint-venture agreement with the Spine division of National Surgical Pty Ltd (“National Surgical”) to introduce the Group’s innovative products and patient-specific technologies in Australia and New Zealand. Other divisions of the National Surgical Businesses will remain unchanged.
Prior to the establishment of the joint-venture, National Surgical was a leading distributor for Medtronic Spine and Biologics in Australia and New Zealand and has developed and maintained excellent relationships for over 14 years with key accounts throughout the territory, which represents the world’s third largest spine market after the United States and Japan and is valued at more than €170 million annually.
Jon Mills, Managing Director of National Surgical, will remain to lead the newly-formed subsidiary with his existing team of highly-trained representatives covering all states and territories of Australia and New Zealand. Mr. Mills stated, “Our history of exceptional service to customers will continue to ensure successful outcomes for patients benefiting from the technology we have supplied since 1997. Moreover, Medicrea’s proprietary UNiD ASI™ (Adaptive Spine Intelligence) technology is especially suited to the Australian market, where surgeons are particularly forward-looking and the healthcare system affords the financial freedom and flexibility to revolutionize spinal surgery. We expect to do nothing less with Medicrea Australia.”
Denys Sournac, President and Chief Executive Officer of Medicrea, added, “We are extremely pleased to have formed this joint venture with National Surgical and to enter Australia’s robust and growing spine market with such a capable partner. Mr. Mills and his team’s experience and long-standing relationships with healthcare professionals at all levels, including key spinal surgeons, hospital administration decision-makers and regulatory contacts, will allow us to rapidly capitalize on a direct sales model and generate new revenue for the Group.”
Medicrea International has been awarded its initial product registrations and holds a 51% majority stake in the Medicrea Australia joint-venture. All revenue generated through the sale of Medicrea products in Australia and New Zealand will be aggregated in Medicrea’s group consolidated numbers.
About Medicrea (www.medicrea.com)
Through the lens of predictive medicine, Medicrea leverages its proprietary software analysis tools with big data and machine learning technologies supported by an expansive collection of clinical and scientific data. The Company is well-placed to streamline the efficiency of spinal care, reduce procedural complications and limit time spent in the operating room.
Operating in a $10 billion marketplace, Medicrea is a Small and Medium sized Enterprise (SME) with 185 employees worldwide, which includes 50 who are based in the U.S. The Company has an ultra-modern manufacturing facility in Lyon, France housing the development and production of 3D-printed titanium patient-specific implants.
For further information, please visit: Medicrea.com.
Medicrea is listed on
EURONEXT Growth Paris
ISIN: FR 0004178572