Two companies headquartered in the "Orthopedic Capital of the World" have announced an agreement. The exclusive deal with Warsaw-based Zimmer Biomet Holdings Inc. (NYSE: ZBH) involves global distribution of Nextremity Solutions Inc.’s first four commercialized products.
Nextremity Solutions says the collaboration will "address unmet clinical needs in forefoot elective surgery." The move is part of Nextremity Solutions’ long-term i3TM Strategic Solutions initiative, aimed at boosting value for shareholders and industry partners. Chief Executive Officer Rod Mayer says "bringing this agreement to closure validates the strategy that our Executive Management Team put into motion at the beginning of the year with the support of our Board of Directors. This strategic shift in our business strategy enables us to focus our efforts on product development and micro-commercialization of innovative technologies in musculoskeletal healthcare."
Executive Director of Product Development Ryan Schlotterback says the agreement with Zimmer Biomet aligns with its "micro-commercialization" model that "truly leverages our strengths and the strengths of our industry partners, while creating the greatest level of value for everyone involved." He says the model will also support a "very strong" internal pipeline.