Orthopaedic Synergy, Inc., is pleased to announce that our acquisition of PRAXIM, SA, Grenoble, France was successfully completed on May 18, 2010.
"The acquisition of PRAXIM SA provides new opportunities for the Orthopaedic Synergy group to bring innovative operative techniques to the Orthopaedic surgeon. This event is indicative of our philosophy of bringing good companies together, while preserving the characteristics unique to each company's culture. We believe that when managed in this fashion each company's individual strengths can be preserved and combined with other member of the group to shorten product development cycles and increase sales. During the pre acquisition due diligence process we make certain that each company within the Orthopaedic Synergy family formulates a plan for integrating their strengths with the company being acquired in anticipation of future co-marketing and product development activities. In this way we believe that we can achieve faster sales growth for all of the companies within the group than if they had remained independent," said Richard "Nik" Nikolaev, Chairman of Orthopaedic Synergy, Inc.
George Cipolletti, President and CEO of OMNIlife science, Inc. stated, "Combining OMNI's advanced orthopaedic implant and instrument products with Enztec Ltd.'s instrument design capability, has already improved our ability to satisfy our customers' needs and has increased sales of OMNI total joint implants. Adding PRAXIM's proprietary computer navigation, and robotic assisted surgery technology to the mix will serve to further accelerate our sales growth in both U.S. and international markets."
"This acquisition represents a tremendous opportunity for PRAXIM and OMNI to speed up the development and commercialization of very exciting new technology," says David LaSalle, who was recently appointed by Orthopaedic Synergy to serve as President and CEO of PRAXIM SA.
SOURCE Orthopaedic Synergy, Inc.