France-based Medicrea will hold a 51% majority stake in the newly formed Medicrea Belgium with plans to transition the JV into a fully-owned Medicrea subsidiary over the coming years.
The newly founded subsidiary will be led by Motion Medical head Steven Mesdom, who will also remain in on board at Motion Medical, Medicrea said.
“We have had an exceptional track record introducing Medicrea’s flagship platforms to Belgium, including PASS thoracolumbar fixation. This partnership marks an important step for our continued penetration of the Belgian market,” Mesdom said in a prepared statement.
“We are extremely pleased to have successfully negotiated this mutually-beneficial agreement with Mr. Mesdom and to announce the creation of Medicrea Belgium, a direct sales subsidiary. Our collective experience in this market will allow us to capitalize on a direct sales model and immediately generate additional revenue for the group. In addition, we will create new opportunities for growth with the latest patient-specific UNiD ASI technologies,” Medicrea prez & CEO Denys Sournac said in a press release.
Last November, Medicrea said it won FDA clearance for its IB3D portfolio of 3D-printed titanium interbody devices featuring its AdapTEK technology.