Zimmer Biomet Enters Distribution Agreement With Warsaw’s Nextremity
October 25, 2016 at 5:57 p.m.
By Dan [email protected]
Zimmer recently announced an exclusive distribution agreement with Nextremity Solutions, a medical device company that focuses much of its work on foot and ankle products and is headquartered on South Buffalo Street, just a few blocks from Zimmer Biomet’s world headquarters.
Under the agreement, Zimmer Biomet now has exclusive rights to globally distribute four of Nextremity’s foot and ankle deformity correction products.
The financial terms of the transaction were not disclosed, but both companies see plenty of upside with the arrangement, according to a news release from Zimmer Biomet.
"We're excited to expand the clinical capabilities of our foot and ankle portfolio with Nextremity Solutions' deformity correction products," said Brad Quick, general manager of Zimmer Biomet Foot and Ankle. "The agreement helps advance our commitment to provide customers with the broadest range of cutting-edge technologies and strengthens our position in the $2 billion foot and ankle market."
Nextremity designs and manufactures the following procedure-ready, sterile implant systems for the correction of foot and ankle pathologies, which will be globally distributed by Zimmer Biomet:
• Nextra® Hammertoe Correction System, the industry's only adjustable two-piece hammertoe implant.
• MSP™ Metatarsal Shortening System, an osteotomy guide and implant in one. The innovative design provides precision and stability for metatarsal shortening procedures.
• Re+Line® Bunion Correction System, a unique, low profile tension-band compression plate designed for performing precise, repeatable bunion correction surgery.
• ArcusTM Staple System, an arc-styled staple design that provides greater and more uniform compression than conventional staples.
"The agreement with Zimmer Biomet allows us to expand the reach and influence of our forefoot portfolio by leveraging the commercial capabilities of a global musculoskeletal healthcare leader," said Rod K. Mayer, president and chief Executive officer of Nextremity.
"Our partnership with Zimmer Biomet enables us to focus on our current strategy of working with our surgeon partners to deliver innovative solutions that help advance the standard of care in the foot and ankle market with speed, efficiency and excellence."
Nextremity Solutions was started in 2007 in New Jersey and moved to Warsaw about two years go. Shortly after that, the company moved its headquarters to 210 S. Buffalo St.
With the distribution rights comes the responsibility of sales.
Mayer says the move will allow Nextremity to focus more on product development.
“Sales, especially when you’re a smaller company like Nextremity, is always a difficult thing, so when you’re able to partner with a company that is well known for their sales and marketing, then obviously, that’s a huge step for us,” Mayer said.
Zimmer recently announced an exclusive distribution agreement with Nextremity Solutions, a medical device company that focuses much of its work on foot and ankle products and is headquartered on South Buffalo Street, just a few blocks from Zimmer Biomet’s world headquarters.
Under the agreement, Zimmer Biomet now has exclusive rights to globally distribute four of Nextremity’s foot and ankle deformity correction products.
The financial terms of the transaction were not disclosed, but both companies see plenty of upside with the arrangement, according to a news release from Zimmer Biomet.
"We're excited to expand the clinical capabilities of our foot and ankle portfolio with Nextremity Solutions' deformity correction products," said Brad Quick, general manager of Zimmer Biomet Foot and Ankle. "The agreement helps advance our commitment to provide customers with the broadest range of cutting-edge technologies and strengthens our position in the $2 billion foot and ankle market."
Nextremity designs and manufactures the following procedure-ready, sterile implant systems for the correction of foot and ankle pathologies, which will be globally distributed by Zimmer Biomet:
• Nextra® Hammertoe Correction System, the industry's only adjustable two-piece hammertoe implant.
• MSP™ Metatarsal Shortening System, an osteotomy guide and implant in one. The innovative design provides precision and stability for metatarsal shortening procedures.
• Re+Line® Bunion Correction System, a unique, low profile tension-band compression plate designed for performing precise, repeatable bunion correction surgery.
• ArcusTM Staple System, an arc-styled staple design that provides greater and more uniform compression than conventional staples.
"The agreement with Zimmer Biomet allows us to expand the reach and influence of our forefoot portfolio by leveraging the commercial capabilities of a global musculoskeletal healthcare leader," said Rod K. Mayer, president and chief Executive officer of Nextremity.
"Our partnership with Zimmer Biomet enables us to focus on our current strategy of working with our surgeon partners to deliver innovative solutions that help advance the standard of care in the foot and ankle market with speed, efficiency and excellence."
Nextremity Solutions was started in 2007 in New Jersey and moved to Warsaw about two years go. Shortly after that, the company moved its headquarters to 210 S. Buffalo St.
With the distribution rights comes the responsibility of sales.
Mayer says the move will allow Nextremity to focus more on product development.
“Sales, especially when you’re a smaller company like Nextremity, is always a difficult thing, so when you’re able to partner with a company that is well known for their sales and marketing, then obviously, that’s a huge step for us,” Mayer said.
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