Trice Medical said today that it inked a deal to acquire SegWay Orthopaedics for an undisclosed amount.
SegWay Ortho produces solutions for minimally invasive orthopedic procedures, including its flagship Endoscopic Carpal Tunnel Release system, a device intended to support minimally invasive carpal tunnel surgeries, Malvern, Penn.-based Trice Medical said.
The company’s SegWay platform is also used in minimally invasive surgery for cubital tunnel syndrome, gastrocnemius equinus contracture and planar fasciitis, Trice Medical added.
“We’re excited for SegWay to join forces with Trice. In just over five years, growing at 30 to 40 percent year-on-year, we’ve created tremendous traction among orthopedic surgeons. Teaming with Trice Medical, which is advancing technologies that involve cameras and ultrasound, rounds out our offering for those doctors,” SegWay founer & CEO Stuart Seymour said in prepared remarks.
“The SegWay acquisition transforms Trice Medical into the first company that offers both minimally invasive orthopedic diagnostic and surgical solutions. We’re looking forward to integrating the SegWay offerings and building on our combined strengths. One of the areas we’re looking at is using our minimally invasive camera technology in the operating room as well,” Trice Medical CEO Jeffrey O’Donnell Sr. said in a press release.
Last month, Trice Medical said that it added more than $18 million to the $19 million Series C round it closed back in 2017.