Lima Corporate said last week it picked up more international knee and elbow assets being offloaded by Zimmer Biomet (NYSE:ZBH), this time in Japan.
The buy includes rights to the Unicompartmental High Flex Knee and Discovery elbow system in the Japanese market, which Lima Corporate said is estimated to clock in at more than $450 million and growing due to an aging population.
“This agreement gives Lima Corporate a big step up in the knee and extremities segments in Japan after the successful acquisition of these products completed for EEA last July. ZUK, now rebranded Physica ZUK, will open doors in Japan for our rapid expansion into the knee segment also supporting the expected 2016 launch of Physica, a new total knee replacement. Regarding extremities, we have recognized awareness in total shoulder arthroplasty in Japan and the Discovery elbow system will allow us to expand our position in this market. Lima Corporate has had direct presence in the Japanese market since the opening of our office in 2004. Combining our strong market presence and these products characterized by great implant designs and successful long-term clinical heritage will certainly advance our market position,” CEO Luigi Ferrari said in a press release.
Lima rebranded Zimmer’s Unicompartmental knee as the “Physica ZUK,” and will commercialize Physica as a new total knee replacement system expected to launch next year, the company said.
The assets add to those already owned by Lima, as the Italian orthopedic company purchased the rights within the European Economic Area and Switzerland for the knee and Elbow system in July. Lima Corporate also acquired Biomet’s Vanguard complete knee system in Denmark and Sweden in July.