PR Newswire12.04.19
HealthpointCapital, a equity firm focused exclusively on musculoskeletal healthcare, announced its Fund IV portfolio company, CrossRoads Extremity Systems, has completed the acquisition of several differentiated technology assets from Surgical Frontiers LLC. The add-on acquisition furthers CrossRoads' strategy to build a market leading company in the high-growth orthopedic extremities sector.
The acquisition includes:
All acquired products are FDA-cleared and were developed under the umbrella of Surgical Frontiers LLC, led by its founder and CEO Wade Fallin. The acquired products are covered by a total of 16 issued and 10 pending US patents.
Commenting on the announcement, Mike Mogul, HealthpointCapital's president, said: "By investing in CrossRoads in May 2019, we set out to build an extremities market leader, leveraging the unique plate and staple combination technology for bone fixation. This addition of Surgical Frontiers' innovations is an important step toward that goal, adding highly differentiated soft-tissue repair assets, and further strengthening CrossRoads' portfolio."
"As we continue on our fast-growth trajectory, we are excited to add to our portfolio a range of technologies that have significant advantages over the current standard of care," said Vernon Hartdegen, CEO and co-founder of CrossRoads. "These unique and highly complementary technologies and intellectual property will further round out our product portfolio and drive cross-selling opportunities. The acquisition is perfectly aligned with our philosophy of offering less-invasive surgical solutions centered on better outcomes for the patient and ease of use for the surgeon."
HealthpointCapital invested in CrossRoads Extremity Systems in May 2019 with its patented Active Stabilization technology that combines continuous dynamic compression and enhanced stability through a hybrid construct of a nitinol staple within a fixation plate. In addition, CrossRoads' high-quality reusable instrumentation and unique EcoSMART instrument recovery program promote efficient inventory management and improved economics for healthcare facilities.
Transaction details were not disclosed. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. provided legal counsel to HealthpointCapital and CrossRoads, and Durham Jones & Pinegar provided legal counsel to Surgical Frontiers.
The acquisition includes:
- the KATOR family of advanced soft tissue-to-bone reattachment products for Achilles tendon repair, ligament stabilization, and arthroscopic rotator cuff repair;
- the OsteoPrecise family of precision cutting guides for bone alignment in small-bone osteotomies and fusions;
- the SpeedButton product for anatomic ligament reattachment with stronger pull-out and better ligament footprint;
- the Metrics portfolio for high-precision, reproducible restoration of anatomic bone alignment and ligament function in high ankle sprains and ankle fractures.
All acquired products are FDA-cleared and were developed under the umbrella of Surgical Frontiers LLC, led by its founder and CEO Wade Fallin. The acquired products are covered by a total of 16 issued and 10 pending US patents.
Commenting on the announcement, Mike Mogul, HealthpointCapital's president, said: "By investing in CrossRoads in May 2019, we set out to build an extremities market leader, leveraging the unique plate and staple combination technology for bone fixation. This addition of Surgical Frontiers' innovations is an important step toward that goal, adding highly differentiated soft-tissue repair assets, and further strengthening CrossRoads' portfolio."
"As we continue on our fast-growth trajectory, we are excited to add to our portfolio a range of technologies that have significant advantages over the current standard of care," said Vernon Hartdegen, CEO and co-founder of CrossRoads. "These unique and highly complementary technologies and intellectual property will further round out our product portfolio and drive cross-selling opportunities. The acquisition is perfectly aligned with our philosophy of offering less-invasive surgical solutions centered on better outcomes for the patient and ease of use for the surgeon."
HealthpointCapital invested in CrossRoads Extremity Systems in May 2019 with its patented Active Stabilization technology that combines continuous dynamic compression and enhanced stability through a hybrid construct of a nitinol staple within a fixation plate. In addition, CrossRoads' high-quality reusable instrumentation and unique EcoSMART instrument recovery program promote efficient inventory management and improved economics for healthcare facilities.
Transaction details were not disclosed. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. provided legal counsel to HealthpointCapital and CrossRoads, and Durham Jones & Pinegar provided legal counsel to Surgical Frontiers.