Paragon 28®, Inc. Acquires the Assets of Additive Orthopaedics
The Additive Orthopaedics acquisition includes FDA Approved, First in the World 3D-printed Patient Specific Talus Spacer for the Treatment of Avascular Necrosis (AVN) for Humanitarian Use
DENVER, June 1, 2021 /PRNewswire/ -- Paragon 28, Inc., a market-leading orthopedic medical device company focused exclusively on the foot-and-ankle, today announced that the Company has acquired the product lines of Additive Orthopaedics ("Additive").
The Additive 3D-printed Patient Specific Talus Spacer was approved on February 17, 2021 by the US Food and Drug Administration ("FDA") and is the first and only patient-specific total talus replacement implant authorized for use in the United States. The FDA approved the implant as a humanitarian use device. It is designed to replace the talus, the bone in the ankle that connects the leg and foot. The Additive implant provides patients access to a novel, joint-sparing alternative to traditional ankle fusion therapies.
Also acquired as part of the transaction was Additive's internally developed, proprietary pre-operative surgical planning application to assist in surgical planning. The application is an end-to-end, fully integrated cloud-based communication tool that aligns surgeons and engineers to design patient specific surgical plans and implants, optimizing patient outcomes.
"The addition of the Additive Orthopaedics product portfolio and surgical planning capabilities provides Paragon 28 customers exclusive access to the only FDA-approved patient specific total talus replacement implant," said Albert DaCosta, Co-Founder and Chief Executive Officer of Paragon 28. "The Additive acquisition also significantly accelerates the Company's strategy to leverage smart tools, artificial intelligence and advanced technology to improve patient outcomes."
About Paragon 28, Inc.
Paragon 28, Inc. exclusively serves the foot-and-ankle surgical community and is dedicated to enhancing patient outcomes by advancing the science and research behind innovative technologies. The addition of Additive Orthopaedics' assets bolsters Paragon 28's Precision Ankle Solutions product offering, which includes the APEX 3D™ Total Ankle Replacement System, Gorilla® Ankle Fracture Plating System, Silverback® Ankle Fusion Plating System, and Phantom™ TTC Fusion Nail Systems. With this comprehensive portfolio, Paragon 28 provides its customers innovative ankle solutions for trauma, arthritis, and limb salvage.
For more information, please visit www.paragon28.com.
Press Contact: Brendan Shook, EVP of Marketing and Medical Education, ([email protected])
SOURCE Paragon 28, Inc.
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