Orthofix Acquires Neomedics - Strengthens R&D For Spine Products

Orthofix International N.V. announced that it has acquired NJ-based Neomedics Inc., an early-stage medical technology company focused on the development of implantable tissue growth stimulation devices.

Orthofix, which previously held a 30% interest in Neomedics, acquired the remaining outstanding shares in an all-cash transaction. Financial terms were not disclosed. The acquisition, previously budgeted by the company, will not materially impact Orthofix's earnings for this fiscal year.

Neomedics' principal assets are the intellectual property rights to a series of implantable tissue growth stimulation devices, with potential applications in orthopedics, neurology, cardiology, pain management, andother fields. Its lead product, the Model 9500I Implantable Spine Fusion Stimulator, which has undergone safety and efficacy testing in animal models, is a spinal fusion adjunct designed to increase the probability of fusionsuccess.

The addition of the 9500i will give the company the opportunity to offer spine surgeons the choice of either an implantable or a noninvasive device and enable the company to capitalize on relationships with the spine surgery community. Orthofix International N.V. is a provider of minimally invasive medical devices for the orthopedic and trauma markets.

Orthofix Inc., Phone: 704-948-2600