SAN JOSE, Calif., April 28, 2017 /PRNewswire/ -- Rodo Medical and Straumann announced that Straumann has increased its stake in Rodo Medical Inc. from 12% (obtained in 2014) to 30%, for an undisclosed sum. The agreement between the two companies provides Straumann with exclusive distribution rights – except in North America and South Korea – and the option to increase Straumann's participation to 51% in 2021.
Founded in 2009, Rodo Medical is a privately-held U.S. company that develops and produces innovative retention devices for dental implant restorations. Its revolutionary Smileloc® device utilizes the shape memory properties of 'nitinol', a nickel-titanium alloy, to attach crowns or dentures to implant abutments without cement or retaining screws. The system also allows quick and easy removal and replacement of a single crown, bridge, and full arch prosthesis. Having gained marketing clearance in Europe (CE Mark) and FDA 510(k) approval, this exciting technology is now commercially available in initial markets.
Straumann's CEO Marco Gadola commented: "RODO's ability to develop a revolutionary concept, turn it into a medical device and bring it to market is impressive. Their entrepreneurial and scientific approach to innovation makes them an attractive partner for the Straumann Group. We are excited about Smileloc, which is an ingenious solution for an important clinical need and could change current paradigms."
Rodo Medical's CEO Young Seo commented: "We are pleased to partner with the market leader, Straumann, and the synergies between the companies present great advancements in implant dentistry, particularly with the predictability and precision of digital workflows created with Rodo's Smileloc System and Straumann's implants and digital products."
About Rodo Medical
Rodo Medical is an innovative medical device company dedicated to improving the quality of life of patients and dentists. The company was founded in 2009 and is located in San Jose, California. Rodo Medical has developed novel retention devices in implant dentistry. The Smileloc® System is used in permanent fixed restorations with dental implants. The Smileloc System is cleared by the FDA (510(k) for marketing in the US, and has marketing clearance in Europe (CE Mark).
Rodo Medical, Inc., 690 Saratoga Ave., Suite 100, San Jose, CA 95129
Corporate Communications / Investor Relations
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The Straumann Group (SIX: STMN) is a global leader in tooth replacement solutions that restore smiles and confidence. It unites global and international brands that stand for excellence, innovation and quality in tooth replacement and esthetics, including Straumann, Instradent, Neodent, and Medentika, etkon and other fully/partly owned companies and partners.
In collaboration with leading clinics, institutes and universities, the Group researches, develops, manufactures and supplies dental implants, instruments, CADCAM prosthetics, biomaterials and digital solutions for use in tooth replacement and restoration or to prevent tooth loss.
Headquartered in Basel, Switzerland, the Group employs approximately 4000 people worldwide and its products, solutions and services are available in more than 100 countries through a broad network of distribution subsidiaries and partners.
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This release contains certain forward-looking statements that reflect the current views of management. Such statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Straumann Group to differ materially from those expressed or implied in this release. Straumann is providing the information in this release as of this date and does not undertake any obligation to update any statements contained in it as a result of new information, future events or otherwise.
SOURCE Rodo Medical, Inc.