WARSAW, Ind., Oct. 22, 2015 (GLOBE NEWSWIRE) -- Nextremity Solutions, Inc., a pure-play foot and ankle company located in Warsaw, IN, has completed the acquisition of a highly innovative foot fusion technology from Del Palma Orthopedics (DPO) that had previously gained the interest of a larger orthopedic company. DPO, located in Columbia City, IN, is an orthopedic company that focuses on the development of global upper and lower extremities medical devices.
The purchase consists of multiple issued and in-prosecution utility and design patents, associated intellectual property, and partially developed foot fusion devices. The foot fusion technology has immediate applications throughout the foot and ankle, expanding Nextremity Solutions' product offering. Nextremity also believes this technology also has other applications within other orthopedic market segments.
Ryan Schlotterback, Director of Product Development for Nextremity Solutions said, "The acquisition of this technology not only strengthens our IP portfolio, but also further prepares us as we continue to expand our product development efforts beyond the forefoot to the midfoot and hindfoot. We believe this technology has the potential to play a role in a number of different procedural applications."
DPO CFO, Brian More commented, "Del Palma along with key influential surgeons had a vision for a unique system to treat certain conditions in the foot, ankle, hand, and wrist; a system that lowers inventory requirements and increases procedural repeatability that provides for better outcomes. We are excited to find the right partner in Nextremity Solutions to finish the development and commercialization of the system. It a privilege to work with partners where goals are aligned; to provide better outcomes for patients and surgeons."
"The acquisition of the Del Palma technology is another step in Nextremity's journey to being recognized as the leader in innovation within the foot and ankle market. Given the interest in this technology by others in the foot and ankle marketplace, Nextremity is excited about obtaining this IP and the opportunity to bring this technology to foot and ankle surgeons in order to improve their patient outcomes," concluded Frank Patton, CFO for Nextremity Solutions, Inc.
Nextremity Solutions anticipates to launch this technology as part of its product portfolio in the next 12-18 months.
About Nextremity Solutions, Inc.
Nextremity Solutions, Inc. is a privately held medical device company offering innovative solutions and approaches to foot and ankle surgical intervention. The Company's procedure-ready, sterile implant systems for the correction of foot and ankle pathologies include uniquely precise, proprietary technology designed to achieve repeatable and superior clinical outcomes.
Dave TempleDirector of Marketing & Corporate Communications574-635-3022www.nextremitysolutions.com
Published at Nasdaq GlobeNewswire