WEST
BRIDGEWATER, Mass., Oct. 31,
2024 /PRNewswire/ -- Executive management from Primo
Medical Group along with others, combined to acquire Arthrosurface,
Inc., a leading provider of joint restoration and preservation
solutions for active patients, from Anika Therapeutics
(NASDAQ: ANIK). Two former Arthrosurface leaders joined the Primo
Medical Group executives in this strategic acquisition which
ensures that Arthrosurface's position as a leader in orthopedic
joint preservation solutions will resume with its portfolio of
innovative products and expertise.
Arthrosurface: A Pioneer in Joint Restoration and
Preservation
Shane Shankle, who was appointed
Arthrosurface's new President said, "As a leader in joint
preservation, I'm excited to drive our company's growth plan by
delivering products that help patients maintain an active quality
of life." Frank
Fedorowicz, Chief Operating and Financial Officer, added,
"I'm very happy to be reunited with many of our founding executives
to propel Arthrosurface into its next exciting phase."
With a commitment to minimally invasive techniques,
Arthrosurface products are designed to restore natural joint
function while preserving surrounding bone and tissue.
Arthrosurface's product portfolio includes more than 150 different
surface implant curvatures for the knee, shoulder, wrist and toe
that are designed to treat upper and lower extremity orthopedic
conditions caused by trauma, injury and arthritic disease.
Andrea Patisteas, Senior Executive
Vice President emphasized that "With over two decades of clinical
experience with our implants, we're thrilled to continue working
with physicians and patients to provide them with options for the
treatment of orthopedic conditions." Steven Tallarida, President and CEO of Primo
Medical Group simply commented "It is great to be back!"
Phoenix Brio will be Arthrosurface's parent company, and both
will be based in West Bridgewater,
Massachusetts. "The acquisition of Arthrosurface aligns with
our mission to create and deliver innovative medical solutions that
address today's clinical needs. Arthrosurface is a natural fit for
us," said Chris LaPlante, CFO at
Primo Medical Group.
Customers and distributors of Arthrosurface products should not
expect to see any change in service or disruption in product access
or availability.
About Primo Medical Group
Primo Medical Group offers the most comprehensive outsourcing
solutions for the medical device market, including OEM product
distribution services, engineering services, precision component
production, finished goods assembly, medical device refurbishment,
reusable surgical kit management and complete supply chain
management. Established in 1953, Primo Medical Group is a privately
held company with five facilities in Massachusetts. Primo
Medical Group is an FDA Registered Contract Manufacturer and is
compliant with FDA Quality Systems Regulations. Primo Medical Group
is also ISO 13485:2016 certified and is a registered manufacturer
with the Office of Defense Trade Controls Compliance. Over the
past 24 years Primo Medical Group has incubated and co-funded
several new technologies including Angiolink Corporation (acquired
by Medtronic), Arthrosurface (acquired by Anika Therapeutics),
Spirus Medical, Inc. (acquired by Olympus), Saphena Medical Inc.
(acquired by a major strategic in 2024), Cardiosolutions, Inc.,
Trax Surgical, Inc. and Versago Vascular Access.
For media inquiries, please contact:
Andrea Patisteas
781-828-4400
andreap@primomedicalgroup.com
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SOURCE Primo Medical Group
