Z-Medica has signed a definitive agreement with The Netherlands-based Taureon to acquire Novacol, a Class III resorbable hemostatic product.
Novacol is currently sold in Europe and South Korea. Z-Medica will continue to support that marketing strategy while making plans to expand the product offering into other countries.
Z-Medica president and CEO Stephen J Fanning noted that given the company’s QuikClot portfolio of hemostatic dressings, it was a natural fit for it to augment both its product line and the company’s international presence with Novacol.
"Our current products are gauze-based and non-resorbable. Acquiring Novacol, which is a resorbable hemostat, is the first step towards expanding the Z-Medica portfolio and providing a wider range of innovative, safe, and effective products to the broader healthcare market," Fanning added.
Used primarily in surgeries, Novacol is comprised of 100% high-quality, purified, natural long and short collagen fiber, which is resorbed by the body. The product is available as the soft, pliable Novacol Pad, and Novacol Fibrillar for use in cavities and irregular surfaces.
Taureon CEO Dick van Kalkeren noted that novacol is an effective product that will benefit from Z-Medica’s global distribution network.
"Z-Medica’s experience with QuikClot and their reputation as a leader in the hemostatic market ensures that Novacol will be able to compete favorably in the market. The transfer of Novacol also enables TAUREON to strengthen our focus in Europe on plastic and orthopedic surgery, human tissue and advanced wound care," Kalkeren added.