Biomet signed a European distribution deal for Titan Spine’s Endoskeleton interbody fusion devices, beginning in Germany and spreading through the E.U., the companies announced.
Mequon, Wis.-based Titan Spine’s Endoskeleton line of products features "proprietary implant surface technology" that promote growth of new bone and bone morphogenetic proteins, according to a company statement. The technology is designed to spur "faster and more robust fusion."
"Biomet is not only a leader in global spine technology, it shares our philosophy that titanium and engineered surface technology can be used to enhance fusion and bone growth upon implantation of interbody fusion devices, leading to improved patient outcomes," Titan Spine president Kevin Gemas said, in prepared remarks."We are pleased to enter into this partnership with Biomet with the goal of bringing Titan Spine devices to more physicians and patients in Europe,"
Last month Biomet, considered something of a bellwether for trends in the orthopedics industry, put black ink into its ledgers for the 3 months ended August 31 on a 3.3% top-line gain, reporting profits of $31.1 million on sales of $730.7 million for the quarter, compared with losses of $31.5 million on sales of $707.4 million during the same period last year.
Adjusted to exclude 1-time items, profits grew 33.8% to $80.8 million, compared with $60.4 million during Q1 2012.