The purchase consists of multiple issued and in-prosecution utility and design patents, associated intellectual property, and partially developed foot fusion devices, Nextremity executives said in a news release. The foot fusion technology has immediate applications throughout the foot and ankle, expanding the company's product offering. Nextremity bigwigs also believe the technology will have larger implications within other orthopedic market segments.
“The acquisition of this technology not only strengthens our IP portfolio, but also further prepares us as we continue to expand our product development efforts beyond the forefoot to the midfoot and hindfoot," said Ryan Schlotterback, director of Product Development for Nextremity Solutions. "We believe this technology has the potential to play a role in a number of different procedural applications.”
Nextremity officials hope to launch the newly acquired technology within in the next 12 to 18 months.
“Del Palma, along with key influential surgeons, had a vision for a system to treat certain conditions in the foot, ankle, hand, and wrist; a system that lowers inventory requirements and increases procedural repeatability that provides for better outcomes. We are excited to find the right partner in Nextremity Solutions to finish the development and commercialization of the system. It a privilege to work with partners where goals are aligned; to provide better outcomes for patients and surgeons,” DPO Chief Financial Officer Brian More said.
DPO, based in Columbia City, Ind., develops upper and lower extremities medical devices.
“Given the interest in this technology by others in the foot and ankle marketplace, Nextremity is excited about obtaining this IP and the opportunity to bring this technology to foot and ankle surgeons in order to improve their patient outcomes,” concluded Frank Patton, Nextremity Solutions' chief financial officer.
Headquartered in Warsaw, Ind., Nextremity Solutions is a privately held company that develops foot and ankle implant systems and solutions.