Omni sold to U.K. ortho company Corin Group

U.K. international orthopedic company Corin Group said it will acquire Omni, a robotic knee surgery platform developer. Raynham, Mass.-based Omni developed its OmniBotics system as an imageless total knee replacement solution which combines a robotic cutting guide with a robotic tool to measure ligament function. The system allows surgeons to tailor the implant position to each individual patient, resulting in less patient pain and faster rehabilitation, according to a statement from Corin. Cirencester, U.K.-based Corin said it is working to revolutionize orthopedics by gaining, understanding and sharing insight at every stage of joint replacement and deliver clinically proven technology-based procedures. “We look forward to working together as a combined organization to further develop our presence in the world’s largest market – the United States,” said Corin CEO Stefano Alfonsi in the company statement. “With the combination of Corin’s unique optimized positioning system for the hip and the OmniBotics platform for the knee, Corin is now uniquely positioned to address functional patient-specific joint replacement.” Omni CEO Rick Epstein said the timing of the acquisition is perfect. “We are thrilled to be joining Corin to maximize the potential of our robotic solutions, adding another unique technology to their ecosystem,” he added. European private-equity firm Permira provided an undisclosed amount of funding for the acquisition. “The U...
Source: Mass Device - Category: Medical Devices Authors: Tags: Blog Business/Financial News Mergers & Acquisitions News Well Orthopedics Corin Group OMNIlife Science Inc. Permira Source Type: news