Astura Medical Joins Forces with Academy Medical to Enhance its Position in the Medical Devices Market
By MedTech Outlook | Thursday, July 25, 2019
Joel Gambrell, Co-Founder, President & CEO
The partnership will lead to the inception of innovative technologies designed for effective spinal treatments.
FREMONT, CA: The spinal implant market is steadily growing every day. In the U.S. alone, it stands at $12 billion and is estimated to reach $17 billion by the year 2021. However, product quality and performance in the sector has been hindered by rising cost, the sophistication of equipment, and lack of transparency among distributors.
Astura Medical is set to change the landscape by promoting discipline, multi-phased approach to designing, developing, and distributing medical devices. The rapidly growing, innovative spine technology company recently partnered with Academy Medical, a Service-Disabled Veteran-Owned Small Business (SDVOSB), which is on priority status with government purchasing agents. The partnership is aimed at facilitating contracts within the Department of Defense (DoD).
Joel Gambrell, Co-Founder, President, and CEO of Astura, said, “In my years of service I noticed how the market was burgeoning with new players, but very few companies mastered the sophistication that spinal instrumentation requires. Instead, companies were spending significant time and resources to develop customized solutions to fill the voids of their systems to keep up with the demands of surgeons.”
Since its inception, Astura has developed a robust portfolio of high-quality medical devices by utilizing surgeon input and feedback at every stage of development. Outstanding quality and robust distribution channels have bolstered the company’s success in the industry. Its contributions to the medical sector spurred MedTech Outlook Magazine to name Astura as one of the “Top 10 Orthopedic Solution Providers - 2018.”
Astura is one of the fastest-growing companies in the spinal equipment sector, with recorded annual revenue growth of 104 percent in 2018. The company’s disciplined and innovative approach has led to the inception of breakthrough technologies such as Half Dome X Expandable Posterior Lumbar Interbody System, and Olympic MIS Posterior Spinal Fixation System.
The company’s agreement with Academy Medical will bolster its foothold in the market, facilitating enhanced healthcare for veterans and active military members and their families. Academy Medical aims to provide robust sales channels for appropriate medical and surgical vendors, thus enabling a seamless process for government purchasing agents.
Ryan Isham, Vice President of Med/Surg at Academy Medical, said, “It is our goal to partner with manufacturers that can provide the solutions, currently and in the future, that can help us provide value to the government while increasing the level of care veterans, active-duty military, and their families receive. Through our partnership with Astura, we will be able to further deliver on that goal.”