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Treace Medical Completes Acquisition of Technology Enabling Patient Specific Instrumentation and Reports on Clinical Cases Using PSI with the Lapiplasty® System
PONTE VEDRA, Fla., June 13, 2023 (GLOBE NEWSWIRE) -- Treace Medical Concepts, Inc. (“Treace” or the “Company”) (NasdaqGS: TMCI), a medical technology company
About this update from Treace Medical Concepts, Inc.
[{"type":"text","content":"PONTE VEDRA, Fla., June 13, 2023 (GLOBE NEWSWIRE) -- Treace Medical Concepts, Inc. (“Treace” or the “Company”) (NasdaqGS: TMCI), a medical technology company driving a fundamental shift in the surgical treatment of hallux valgus (commonly known as bunions), today announced that it has completed its previously announced acquisition of certain assets from MIOS Marketing, LLC d/b/a RedPoint Medical3D (“RPM-3D”), a medical technology company offering pre-operative planning and patient-specific instrumentation (PSI) guides, designed to deliver accurate surgical correction of deformities, tailored to the patient’s unique foot anatomy. “We are excited to add FDA-cleared PSI technologies and capabilities to our portfolio, building upon our pioneering 3D bunion correction and related midfoot solutions,” said John T. Treace, CEO, Founder and Board Member of Treace. “The addition of PSI technologies provides greater customization options for our Lapiplasty® and Adductoplasty® technologies, offering an expanded range of solutions for patients and clinicians. We look forward to further integrating PSI as we advance our mission to improve surgical outcomes for patients suffering from bunion and related midfoot deformities.” Mark Easley, MD, Chief, Duke University Foot and Ankle Division said, “With my first patient treated, I’m impressed with the experience and outcome from using the RedPoint PSI and Lapiplasty® technologies. It's exciting to have these technologies available for the first time where I can visualize the patient's deformity in 3D, develop and simulate a surgical plan, and create cut guides specific to the patient's unique anatomy, all before stepping into the operating room.” Dr. Easley is a paid consultant for Treace. For additional information on the RPM-3D technology and acquisition, please visit https://investors.treace.com/news-events/events-presentations. Under the terms of the asset purchase agreement, Treace acquired certain intellectual property, including patent applications and proprietary processes, a regulatory clearance, inventory, contracts, licenses, software, hardware, marketing materials and other related assets used in pre-operative planning and providing patient-specific guides for the surgical correction of foot and ankle deformities from RPM-3D for $20 million in cash at closing and up to $10 million in p...