The assets will be transferred into a new California-based company, wholly owned by Kyocera International Inc., to be named Kyocera Medical Technologies Inc., in March.
Renovis, founded in 2009, is a market leader in 3D-printed implants, and has developed a broad portfolio of innovative products for the U.S. market, serving the needs of orthopedic, neurological, and trauma surgeons. Renovis has experienced steady growth since its inception and has continued to develop and commercialize a wide range of products manufactured using the company’s Tesera Trabecular Technology, a proprietary implant surface structure, made using Additive Manufacturing. In addition, Renovis has developed an advanced bearing surface technology for joint replacement products. Kyocera’s global strength and expansive research and development capabilities will accelerate the growth of these valuable technologies.
The U.S. orthopedic implant market totals approximately $20 billion, representing about 60 percent of the global market, with continued growth expected.* Kyocera currently manufactures medical products such as artificial joints and dental implants primarily for sale in Japan. To grow internationally, Kyocera obtained U.S. Food and Drug Administration 510(k) clearance for its artificial hip joints and began selling them in the United States in 2017.
Kyocera plans to expand its U.S. medical equipment business through this asset purchase. The newly established company will develop products that improve patient health and quality of life through synergies between Kyocera’s proprietary technologies and those purchased from Renovis.
* Based on third-party research as of December 2018
Kyocera Corporation, the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of fine ceramics (also known as “advanced ceramics”). By combining these engineered materials with metals and integrating them with other technologies, Kyocera has become a supplier of semiconductor packages, industrial and automotive components, electronic devices, solar power generating systems, printers, copiers and mobile phones. During the year ended March 31, 2018, the company’s consolidated net sales totaled 1.58 trillion yen (approx. $14.9 billion). .