Basel, Switzerland – Medartis Holding AG (SIX: MED) has acquired a strategic minority stake in KeriMedical, a Geneva-based company specialized in implants for hand and wrist surgery. The agreement includes a partnership in distribution to drive the international expansion of the KeriMedical portfolio, as well as in product development. With this partnership, Medartis takes a significant step towards becoming a complete solution provider in its strongest segment, hand and wrist.
Medartis has acquired a stake of 25% in KeriMedical effective 30 November 2020 for a purchase price of CHF 10 million and is granted a seat on its Board of Directors. A significant share of the capital invested by Medartis will be used for access and development of the US market for the KeriMedical portfolio. This includes KeriMedical’s flagship product, the Touch prosthesis, which is used to treat basal thumb osteoarthritis. Under the agreement, Medartis receives exclusive distribution rights in selected markets, among others in the US, Germany, Austria, UK and Australia to drive the international expansion of the KeriMedical portfolio.
KeriMedical has extensive expertise in prosthetics for small joints, soft tissue fixation and nerve regeneration. The company is setting new standards in particular with its products in the area of thumb and finger joints, for example in the treatment of osteoarthritis in the hand, which affects more than 60% of all people aged over 55. With the combined portfolio, Medartis will expand its product offering for hand and wrist surgeons for the treatment of fractures, osteoarthritis, soft tissue and nerve injuries.
In order to address this untapped market potential, KeriMedical and Medartis have further agreed to pursue a partnership in product development in the area of arthroplasty in small joints and soft tissue fixation in upper extremities. Furthermore, the partnership may create a basis for exploring opportunities in lower extremities over time.