Orthopaedic Synergy has completed the acquisition of France-based Praxim, a developer of automated systems, software and instruments used by surgeons. The acquisition of Praxim provides new opportunities for the Orthopaedic Synergy group to bring operative techniques to the orthopaedic surgeons.
Orthopaedic Synergy functions as a holding company for OMNIlife Science, Enztec and Praxim. Together these companies represent a global reconstructive orthopaedic concern that is committed to the design, manufacture and distribution of orthopaedic devices.
Richard ‘Nik’ Nikolaev, chairman of Orthopaedic Synergy, said: “This event is indicative of our philosophy of bringing good companies together, while preserving the characteristics unique to each company’s culture. We believe that when managed in this fashion each company’s individual strengths can be preserved and combined with other member of the group to shorten product development cycles and increase sales.
“During the pre acquisition due diligence process we make certain that each company within the Orthopaedic Synergy family formulates a plan for integrating their strengths with the company being acquired in anticipation of future co-marketing and product development activities. In this way we believe that we can achieve faster sales growth for all of the companies within the group than if they had remained independent.”
George Cipolletti, president and CEO of OMNIlife science, said: “Combining OMNI’s advanced orthopaedic implant and instrument products with Enztec’s instrument design capability, has already improved our ability to satisfy our customers’ needs and has increased sales of OMNI total joint implants. Adding Praxim’s computer navigation, and robotic assisted surgery technology to the mix will serve to further accelerate our sales growth in both US and international markets.”
David LaSalle, president and CEO of Praxim SA, said: “This acquisition represents a tremendous opportunity for Praxim and OMNI to speed up the development and commercialization of very exciting new technology.”