France-based orthopedic implant company Implanet said today that it inked a strategic partnership with Korea’s L&K Biomed.
According to the terms of the deal, Implanet America will team up with Aegis Spine, L&K Biomed’s U.S. subsidiary, to accelerate the marketing of its Jazz platform in the U.S. In Asia, L&K Biomed will be responsible for distributing the company’s Jazz platform. In exchange, Implanet plans to distribute L&K Biomed’s implants in Europe.
Both companies said they hope to jointly penetrate the Japanese market, which they cited as the second-largest market for medtech.
“L&K Biomed is very pleased with this partnership with Implanet, leader in latest-generation braided implants for treating spine disorders. We firmly believe that there are substantial synergies between our two companies on both an operating level, with the disruptive and innovative nature of our product ranges, and a commercial level, with our respective distribution networks,” L&K Biomed’s CEO, Lee Seung Joo, said in prepared remarks.
“The search for a strong partner of a significant size with an innovative product range that complements our technology had been a priority for us in recent months. We are delighted with this agreement with L&K Biomed, particularly as it should enable us to significantly accentuate our presence in the United States, given our new partner’s longstanding and successful activity, in Asia, via its natural presence there and its in-depth knowledge of these markets’ specificities, and in Europe, by providing surgeons with an innovative range of high-end implants that complement our own technology,” Implanet CEO Ludovic Lastennet added.
In June, Implanet won CE Mark approval in the European Union and FDA clearance for its Jazz braid device.