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Smith & Nephew has announced its acquisition of Ceterix® Orthopaedics, Inc. for an initial $50 million and an additional $55 million over the next five years, depending on their financial performance.
Ceterix Orthopaedics is the developer and manufacturer of the NovoStitch® Pro Meniscal Repair System, which allows surgeons a higher degree of freedom in stitch placement when operating in tight joint compartments.
As such, surgeons can repair a broader scope of meniscal tear types, such as horizonal, radial, complex, bucket handle, and root tears, as well as the vertical tears handled by Smith & Nephew’s existing FAST-FIX® 360 Meniscal Repair System.
Out of the 1.2 million meniscal tears that are treated annually in the United States, only 15-20% of cases can be surgically repaired, with the remainder requiring removal by the way of a meniscectomy.
The meniscus’ removal often degenerates the affected joint further, increasing the likelihood of osteoarthritis or other conditions. In larger meniscal resections where 25% or more of the meniscal tissue is removed, a meniscus implant is often considered to preserve joint function. As such, the NovoStitch® Pro is highly complementary to the FAST-FIX® 360 and will continue to have an impact on the meniscal repair market.
Brad Cannon, president Sports Medicine and ENT at Smith & Nephew said, “NovoStitch Pro is an outstanding technology that addresses an unmet clinical need. […] We are excited by the opportunities to take this new option to our customers. No other company is better positioned to support changing clinical practice as the standard for meniscal treatment pivots from resection to repair.”
For Further Information
More on the arthroscopic device market in the US can be found in a report published by iData Research entitled U.S. Market Report Suite for Arthroscopic Devices. The report covers the following market segments: arthroscopes, disposable cannulas, hand instruments, fluid management disposables, shaver blades, radiofrequency (RF) probes, drill guide systems and disposables and suture passers. Power instruments are covered in an appendix.