CANTON, Mass. and BIRMINGHAM, Ala., March 28, 2017 /PRNewswire/ -- Organogenesis Inc., a commercial leader in the field of regenerative medicine, is expanding beyond wound care with the acquisition of NuTech Medical. The newly-combined company will offer a portfolio of advanced and next generation products for the wound care and surgical biologics markets.
Based in Birmingham, AL, NuTech Medical is an emerging player, offering a diverse portfolio of amniotic products for a variety of surgical and wound care needs. NuTech Medical's non-biologics product line will remain as a separate company, NuTech Spine.
"This is an important transaction for the regenerative medicine field. It unites two pioneering companies, each with decades of experience in bringing quality biologics products to patients around the world," said Gary S. Gillheeney, Sr., President and CEO of Organogenesis. "This is a compelling, highly complementary combination of best-in-class, innovative products in both the regenerative wound and surgical biologics markets. Organogenesis is currently growing at 40% a year, and we have patiently waited to enter the amniotic tissue space. Specifically, we've been watching the development of next-generation amniotic products, and we've found in NuTech Medical what we believe is the field's most promising product portfolio and pipeline, with a technology platform that's really unparalleled in the field."
NuTech Medical will continue existing operations as a new division of Organogenesis Inc., focused on the surgical biologics arena. It will continue to develop and distribute NuTech's product line from its existing facilities in Birmingham, AL, with plans to grow its existing surgical sales network of approximately 150 representatives, significantly expanding Organogenesis' sales capabilities. NuTech's President & CEO Howard Walthall will join Organogenesis Inc. as President of the company's Surgical Division, and as Senior Vice President for Strategy and Development for Organogenesis Inc.
"This is an exciting time for NuTech Medical, as we share with Organogenesis a commitment to regenerative product innovation, and a culture of scientific advancement and exceptional customer service,'" said Mr. Walthall. "Like NuTech, Organogenesis has decades of experience bringing ground-breaking technology to market, and building a large and loyal customer base. This acquisition enables us to drive significant growth in both the wound and surgical biologics markets together, through our combined R&D programs, and our strong and proven distribution networks."
NuTech Medical's portfolio includes an amniotic product line for both soft tissue and bone applications, utilized in multiple markets including wound healing and surgery. The product line includes Affinity, a novel, fresh amniotic allograft; NuShield, a dehydrated terminally-sterilized allograft that comprises both the amnion and chorion layers; and NuCel and ReNu, cryopreserved allografts derived from human amnion and amniotic fluid, as well as other complementary products. NuTech's proprietary BioLoc™ process is the field's state-of-the-art technology for preserving the native structure of the amnion and chorion membranes, optimized to provide excellent strength, flexibility, and handling. NuTech's proprietary AlloFresh™ process allows for the fresh hypothermic storage of amniotic tissues while retaining their structural integrity, viability and native benefits.
Having pioneered the field, Massachusetts-based Organogenesis Inc. is a global leader in regenerative medicine, offering a portfolio of bioactive and acellular biomaterials products for advanced wound care, orthopedics and spine. Organogenesis' versatile portfolio is designed to treat a variety of patients with repair and regenerative needs.
Originally founded as a spin-off from technology developed at MIT in 1985, Organogenesis pioneered the advanced wound care space with the first-ever FDA approval of a mass-produced living cell-based therapy, Apligraf®, for the treatment of chronic venous leg ulcers. In 2014, Organogenesis acquired Dermagraft®, a living cell-based technology approved by the FDA for the treatment of chronic diabetic foot ulcers. In 2016, the company launched PuraPly Antimicrobial™, an FDA-cleared purified type 1 collagen + PHMB-antimicrobial device, designed to manage and prevent the reformation of biofilm in wounds.
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SOURCE Organogenesis Inc.