UTICA — MedShape, Inc., an Atlanta–based orthopaedic devices maker, announced on July 5 that it has sold its ExoShape ACL Fixation System to Utica–based surgical-device maker ConMed Corp. (NASDAQ: CNMD).
The acquisition, which closed on July 3, includes both the ExoShape Femoral and Tibial Soft Tissue Fasteners, used to fixate soft-tissue grafts in anterior cruciate ligament (ACL) reconstruction knee surgery.
Financial terms weren’t disclosed.
“The ExoShape System has represented a valuable portion of MedShape’s business since 2011, and this acquisition further demonstrates the success of the development and commercialization efforts invested in the product,” Kurt Jacobus, MedShape’s CEO said in a news release. “While we will certainly miss serving our patients, doctors and distributors with this product line, we look forward to focusing our efforts towards growing our core foot and ankle business with new investments.”
The ExoShape ACL Fixation System represents a “breakthrough” in soft-tissue fixation, MedShape, contends. Manufactured from shape memory PEEK Altera, the ExoShape fasteners are delivered in a “low-profile shape for easy insertion and then fully expanded upon instantaneous deployment to effectively compress and secure the soft tissue graft inside the bone tunnel,” the release stated.
ConMed specializes in surgical devices and equipment for minimally invasive procedures. The company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery, and gastroenterology.
The firm has a direct selling presence in 17 countries and international sales account for about half of its total sales. ConMed employs about 3,300 people worldwide.