Extremity Medical, LLC | April 07, 2022
Extremity Medical, LLC, a global medical device company focused on the development of innovative implants and instruments for upper and lower extremities, announcedthat it filed a lawsuit against Nextremity Solutions, Inc.; Zimmer Biomet Holdings, Inc.; and Zimmer, Inc., alleging infringement of an Extremity Medical patent* for its intraosseous fixation platform arising from the marketing of the InCore® Lapidus System by these companies. The complaint was filed in the U.S. District Court for the District of Delaware.
Extremity Medical has amassed an intellectual propertyportfolio that includes 49 patents in the U.S. and several foreign countries. The novel and patented technology of Extremity’s intraosseous fixation platform provides surgeons with a zero-profile solution for fusion and fixation of bones within the upper and lower extremities, with the ability to be implanted through minimal incisions. This technology is currently marketed globally by Extremity under the trade names IO FiX, IO FiX Plus, IO FiX 2.0, IO Freedom, CarpalFiX, ApeX and XMCP.
“Extremity Medical has invested a tremendous amount of effort and resources in research and development to create innovative technology to improve the lives of patients and meet surgeons’ needs. Our intellectual property is a critical component in making such advancements possible and we are committed to protecting it,”
Matthew Lyons, Extremity Medical Chief Executive Officer, Founder and Chairman of the Board
About Extremity Medical, LLC
Extremity Medical, was founded in 2008, and is a privately-held medical device company based in Parsippany, NJ. The company is known for creating innovative implants and instruments for upper and lower extremity orthopedic procedures, including fusion and motion preservation. The company is focused on developing solutions for challenging cases that promote better outcomes, especially in patients with poor bone quality.
FUTURE OF HEALTHCARE
PRIA Healthcare Management | January 27, 2022
PRIA Healthcare Management (PRIA), a leader in technology-enabled Market Access services that accelerate the adoption and rapid commercialization of innovative devices and procedures, today announced a significant investment fromVirginiabased growth equity firm, Aldrich Capital Partners. With the support of growth capital, PRIA Healthcare will quickly expand its Market Access solutions to innovative Medtech companies facing clinical trials and early reimbursement challenges of novel and life changing therapies.
"After bootstrapping PRIA since our founding in 2012, we could see it was time for us to take the next step as the business grew and the needs in the market continued to expand. After meeting with many potential partners, we chose to work with the team at Aldrich Capital Partners because of their deep experience within our space and enormous set of resources they will bring to the table, outside of just capital."
Mike Simon, Founder and CEO of PRIA Healthcare
PRIA looks to further advance its mission to provide patients and providers across dozens of specialties access to innovative medical devices. PRIA's deep expertise in early reimbursement strategy, clinical trial reimbursement programs, and market-leading patient access programs ultimately enhance the market success of ground-breaking medical device procedures. The investment will be used to develop new products and services, as well as expand its reach to additional medical device manufacturers accelerating PRIA's already impressive growth rate.
PRIA and Aldrich Capital Partners share a common vision around the importance of patient-centric services within the life sciences ecosystem.
"Over the last several years, we have set out to invest in an innovative patient services business serving the life sciences segment and after meeting the PRIA team, we were immediately impressed", saysRaz Zia, General Partner of Aldrich Capital. "The sector-specific expertise, use of technology and vision set PRIA apart from other vendors in the space and we are excited to leverage our resources, relationships and decades of experience in scaling businesses to help the PRIA team realize their full potential."
Informed by clinical data, PRIA partners with leading medical device manufactures and emerging medical device start-ups across the country and uses centralized, data-driven process workflows to deliver coordinated patient access programs that navigate the complexity of coding, coverage and payment for novel procedures. PRIA brings together patients, providers, medical device manufacturers and health insurers to ensure patients receive the best possible care for their situation.
About PRIA Healthcare
PRIA Healthcare Management is a patient access and reimbursement solutions company specializing in patient-based appeals of denied care. PRIA partners with medical device companies, healthcare providers, and healthcare organizations to ensure that patients are afforded appropriate coverage for the care that they are prescribed. Guided by the PRIA Patient Access Process our team of Patient Access Specialists have the experience and expertise to ensure that patient's rights to prescribed care will always be exercised to the fullest extent.
About Aldrich Capital Partners
Aldrich Capital Partners supports disruptive innovation in healthcare IT, fintech, and application software by investing equity capital in privately held growing companies. Founded by experienced investors and operators, who were also successful entrepreneurs, the founders of Aldrich Capital have been responsible for over$1 billionin technology investments since 1999. Both an operations partner and board-level advisor, ACP brings its portfolio companies strategic insight and access to a broad network of relationships built over 50 combined years of entrepreneurship and investing. Aldrich Capital Partners was founded in 2014 and has offices in Silicon Valley and theWashington, DCmetro area.
Dura Software | January 20, 2022
Dura Software, specialists in acquiring and operating hyperniche software products, announced it has acquired SecureVideo, a cloud-based software company with extensive experience developing a secure SaaS telehealth platform for the healthcare industry. Expanding the Dura portfolio, SecureVideo is the ninth acquisition for Dura Software and furthers the Dura mission of acquiring niche software companies that serve critical business needs.
"We are excited to welcome SecureVideo into the Dura portfolio of companies. Jonathan Taylor and his team have created a highly scalable SaaS solution that enables a loyal group of physicians and practitioners to serve their patients safely and effectively every day. SecureVideo has a seasoned team that understands the healthcare market and how to best leverage technology to make the lives of healthcare professionals and patients easier. "
Paul Salisbury, CEO of Dura Software
Serving the healthcare industry, SecureVideo produces a HIPAA-compliant, cloud-based telehealth platform designed to aid clients with quickly mastering their telehealth workflow. During 2020, SecureVideo's usage grew significantly, expanding to 30 times its typical usage, prompting the company to quickly scale its operations while it successfully met the growing needs of new and existing customers. As a trusted partner in the healthcare space, SecureVideo provides a flexible, reliable telehealth technology solution to behavioral health organizations, medical groups, hospitals, physician offices, specialty healthcare organizations and other medical organizations.
The CEO of SecureVideo, Jonathan Taylor, will lead the company as it transitions into the Dura Software portfolio of companies. "The acquisition of SecureVideo by Dura Software will provide the resources and expertise we need to scale our product capabilities, customer support, and market reach well beyond what would have otherwise been possible," says Taylor. "With Dura's assistance, the company will be able to rapidly add important features and functionality to our world-class product, amplify our customer-first culture, and expand our customer footprint, all while maintaining the high standard of excellence we have always worked to achieve."
Based in Alameda, California, SecureVideo will move its headquarters to San Antonio, while all employees will remain in their current locations.
About Dura Software
Dura Software is an expert in acquiring, owning and operating "Hyper-Niche" software businesses. Over the coming years, Dura will continue to expand by acquiring additional great businesses and by generating sustained profitable growth from business operations. Dura Software is based in downtown San Antonio and operates a portfolio of companies that includes 6Connex, DB Technology, Lane, DVSAnalytics, Eventory, Moki, NordicIT and Vertex Systems.
FUTURE OF HEALTHCARE
Winner Medical | June 02, 2022
Winner Medical Co. Ltd. a leading manufacturer of disposable wound care and surgical products, announced on May 18 that it will acquire a majority 65.55% stake in Hunan Pingan Medical Device Technology Co. Ltd. for 652 million yuan as the Company continues to expand its disposable medical supply lineup.
Upon the completion of the deal, Winner Medical is set to hold a total of 68.7% stake in Pingan Medical for a total of 752 million yuan.
The Company's move comes as it looks to make a foray into the field of injection products to diversify its product offerings besides consumer products, and comes in line with its strategy to provide one-stop disposable medical supply solutions.
Established in 2010, Pingan Medical mainly produces disposable medical devices, such as syringes, infusion sets, and blood collection tubes among other medical supplies. In 2021, Pingan Medical recorded 360 million yuan in revenue and booked a net profit of 85 million yuan.
The acquisition will leverage both companies' strengths and help fill the product gap in injection-related disposables of Winner Medical, enabling it to expand into new medical verticals and achieve its goal of becoming a major supplier for the domestic market.
Specifically, the Company plans to roll out medical sets that comprise needle-type products from Pingan Medical and wound care supplies from Winner Medical, providing one-stop customized solutions for hospitals and large medical centers.
Meanwhile, Winner Medical will help Pingan Medical with its industry-leading R&D capabilities to develop medical device solutions and build smart manufacturing plants.
To fuel the growth based on the new deal, Winner Medical has signed an investment note with the local government of Li County in Hunan Province, where Pingan Medical is headquartered, to build medical equipment production lines, smart warehousing, and R&D facilities.
The latest deal follows Winner Medical's April-11 acquisition of wound dressing maker Zhejiang Longterm Medical Technology Co. Ltd. as part of its expansion strategy to stay competitive in the area of high-end wound dressings. The Company has also set up a dedicated team to promote its self-developed wound dressing products as the market for such medical supplies is still in its infancy in China.
Founded in 1991, Winner Medical has made efforts to offer quality cotton-based medical dressings and disposables, and will continue to push ahead with its strategy to diversify its product lineup and boost consumption. On the manufacturing front, the Company aims to expand to new medical verticals through acquisitions, while on the consumption front, it plans to enhance product sales through digitization and gradually phasing out less popular products.
As such, the Company has made significant progress in digitizing its operations. Winner Medical has gone live on multiple e-commerce platforms, and has gone digital in terms of online and offline warehousing and order management.