OMNIlife science™, Inc. And Global Orthopaedic Technology Enter into Licensing Agreement for APEX™ Knee System
RAYNHAM, Mass. and SYDNEY, April 7, 2017 /PRNewswire/ -- OMNIlife science™, Inc. ("OMNI™") and Global Orthopaedic Technology Pty Ltd. today announced an exclusive licensing agreement for OMNI's 's APEX™ Knee Implants for Australia, New Zealand and South Africa.
Under the terms of the agreement, Global Orthopaedic Technology will acquire exclusive rights to manufacture, market and distribute the APEX™ Knee Implants in the three countries listed above. Global will continue to market OMNI's OMNIBotics® robotic-assisted total knee and computer-assisted total hip replacement technology in the agreed markets under a separate distribution agreement. In addition, OMNI will continue to market Global's Paragon Hip Implants in the United States also under a separate distribution agreement.
"The clinical performance of the APEX™ Knee in Australia, aided by OMNIBotics and other advanced implant delivery systems, continues to drive APEX™ knee growth in Australia," said Rick Randall, OMNI CEO. "Licensing the knee implants to Global ensures the APEX™ Knee will continue to expand in the evidence-based Australian healthcare market and provide OMNI non-dilutive capital to support the demand for robotic-assisted total joint replacement products in the large U.S. orthopedics market."
"Following six years of successful distribution of the APEX™ knee in Australia we believe the time is right for Global to secure the license and long term tenure for the product," commented Andrew Fox-Smith, Global CEO. "The proven clinical success of the APEX™ Knee in conjunction with emerging technologies out of Australia, will provide Global with solid foundations for future development and growth."
About OMNI
OMNI is a privately held company with a proprietary robotic platform, OMNIBotics®, which allows surgeons to conduct patient-specific total knee surgery designed to enhance patient satisfaction and reduce hospital costs. In addition, OMNI designs, engineers, manufactures and distributes a wide range of proprietary hip and knee implants and is focused on providing cutting edge technologies to transform outcomes in joint replacement surgery and enhance a surgeon's ability to help patients live active and pain-free lives. For more information about OMNI, please visit www.omnils.com.
About Global
Global Orthopaedic Technology Is the largest Australian-owned orthopaedic implant designer and manufacturer. Through strong engagement with some of Australia's leading surgeons, universities and researchers, Global endeavours to lead the way in the distribution and development of new and innovative products to meet the needs of both the surgeons and their patients. Global provides an extensive range of orthopaedic implant solutions from early intervention through to complex end stage surgery for both knee and hip replacement surgery. The hip and knee portfolio is also complimented by a suite of enabling technologies including robotics, patient specific instrumentation and planning tools, designed to improve efficiencies and optimise patient outcomes throughout the continuum of care. For more information about Global, please visit www.globalortho.com.au.
Forward-Looking Statements
Statements in this press release concerning the future business, operations and prospects of OMNIlife science, Inc., including statements using the terms "plans," "believes" or similar expressions are "forward- looking" statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon management's current expectations and are subject to a number of factors and uncertainties. Information contained in these forward-looking statements is inherently uncertain, and actual performance and results may differ materially due to many important factors. Such factors include, among others, changes in competitive conditions and pricing in OMNI's markets, decrease in the demand for OMNI's products, delays in OMNI's product research and development cycles, decreases in the use of OMNI's principal product lines or in procedure volume, unanticipated issues in complying with domestic or foreign regulatory requirements related to OMNI's current products or securing regulatory clearance or approvals for new products or upgrades or changes to OMNI's current products, the impact of the United States healthcare reform legislation on hospital spending and reimbursement, any unanticipated impact arising out of the securities class action or any other litigation, inquiry, or investigation brought against OMNI, increases in costs of OMNI's sales force and distributors, and unanticipated intellectual property expenditures required to develop, market, and defend OMNI's products. OMNI cannot guarantee any future results, levels of activity, performance or achievement. OMNI undertakes no obligation to update any of its forward-looking statements after the date of this press release
Contact
Cindy Holloway, Director of Marketing Communications Phone: (508) 824-2444
SOURCE OMNIlife science, Inc.
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