Zimmer Biomet (NYSE:ZBH) said today it inked an exclusive global distribution agreement with Nextremity Solutions for its foot and ankle deformity correction products. Financial terms of the transaction were not released.
The deal will position Warsaw, Ind.-based Zimmer Biomet to distribute Nextremity Solutions’ Nextra hammertoe correction system, MSP metatarsal shortening system, Re+Line bunion correction system and Arcus stable system globally.
“We’re excited to expand the clinical capabilities of our foot and ankle portfolio with Nextremity Solutions’ deformity correction products. The agreement helps advance our commitment to provide customers with the broadest range of cutting-edge technologies and strengthens our position in the $2 billion foot and ankle market,” Zimmer Biomet foot & ankle GM Brad Quick said in a press release.
“The agreement with Zimmer Biomet allows us to expand the reach and influence of our forefoot portfolio by leveraging the commercial capabilities of a global musculoskeletal healthcare leader. Our partnership with Zimmer Biomet enables us to focus on our current strategy of working with our surgeon partners to deliver innovative solutions that help advance the standard of care in the foot and ankle market with speed, efficiency and excellence,” Nextremity Solutions prez & CEO Rod Mayer said in prepared remarks.
Late last month, Zimmer Biomet said it pledged to match up to $100,000 for the Orthopaedic Research & Education Foundation by donating 10¢ for every dollar given to OREF by individual donors.
Zimmer said it’s donated some $6 million to the foundation since 2010.