Sam Brusco, Associate Editor06.05.23
Treace Medical Concepts has begun an asset purchase agreement to acquire assets of MIOS Marketing d/b/a RedPoint Medical3D (RPM 3D), a company that offers pre-op planning and patient-specific guides to be used in surgical correction of deformities customized to unique foot anatomy.
The purchase price is $20 million in upfront cash payment, with up to $10 million in possible milestone payments.
Using CT scan data, RPM-3D uses software to develop a 3D pre-op plan to correct the patient’s deformity and produce a 3D-printed, patient-specific cut guide. RPM-3D software and systems with be combined with Treace’s instrumentation and implant systems this year, with commercial release of patient-specific products anticipated in the second half of 2024.
“We believe there are excellent synergies with RPM-3D’s FDA cleared technologies and our Lapiplasty and Adductoplasty procedures that strengthen our market leadership and accelerate our competitive differentiation, as we advance our mission to improve surgical outcomes for patients suffering from bunion and related midfoot deformities,” John T. Treace, CEO, founder, and board member of Treace told the press. “RPM-3D’s 22 patent applications further expand and reinforce our market leading global IP portfolio covering technologies for the correction of bunion and related deformities. In addition, the RPM-3D purchase builds upon our acceleration in R&D initiatives that we announced in early 2022. These targeted R&D efforts are delivering an expanding portfolio of unique, problem-solving technologies for our customers and marketed through our direct, bunion-focused sales force.”
The purchase price is $20 million in upfront cash payment, with up to $10 million in possible milestone payments.
Using CT scan data, RPM-3D uses software to develop a 3D pre-op plan to correct the patient’s deformity and produce a 3D-printed, patient-specific cut guide. RPM-3D software and systems with be combined with Treace’s instrumentation and implant systems this year, with commercial release of patient-specific products anticipated in the second half of 2024.
“We believe there are excellent synergies with RPM-3D’s FDA cleared technologies and our Lapiplasty and Adductoplasty procedures that strengthen our market leadership and accelerate our competitive differentiation, as we advance our mission to improve surgical outcomes for patients suffering from bunion and related midfoot deformities,” John T. Treace, CEO, founder, and board member of Treace told the press. “RPM-3D’s 22 patent applications further expand and reinforce our market leading global IP portfolio covering technologies for the correction of bunion and related deformities. In addition, the RPM-3D purchase builds upon our acceleration in R&D initiatives that we announced in early 2022. These targeted R&D efforts are delivering an expanding portfolio of unique, problem-solving technologies for our customers and marketed through our direct, bunion-focused sales force.”