Dental device developer Rodo Medical said today that it entered into a new distribution agreement with Straumann Holding, which has increased its stake in Rodo Medical from 12% to 30% for an undisclosed sum.
The agreement will provide Straumann with exclusive distribution rights outside of North America and South Korea with an option to increase Straumann’s participation to 51% in 2021, San Jose, Calif.-based Rodo Medical said today.
“Rodo’s ability to develop a revolutionary concept, turn it into a medical device and bring it to market is impressive. Their entrepreneurial and scientific approach to innovation makes them an attractive partner for the Straumann Group. We are excited about Smileloc, which is an ingenious solution for an important clinical need and could change current paradigms,” Straumann CEO Marco Gadola said in a prepared statement.
Rodo medical develops and produces retention devices for dental implant restorations. The company’s products have CE Mark approval in the European Union and FDA 510(k) approval in the US, where its products are commercially available.
“We are pleased to partner with the market leader, Straumann, and the synergies between the companies present great advancements in implant dentistry, particularly with the predictability and precision of digital workflows created with Rodo’s Smileloc System and Straumann’s implants and digital products,” Rodo Medical CEO Young Seo said in a press release.