LimaCorporate Announces Milestone-based Acquisition of TechMah Medical LLC to Expand Digital Footprint in Orthopaedics
SAN DANIELE DEL FRIULI, Italy, Sept. 6, 2018 /CNW/ - LimaCorporate, a pioneer and leader in 3D printing of Orthopaedic implants, announces the milestone-based acquisition of TechMah Medical LLC ("TechMah Medical"), a medical device software company located in Knoxville, Tennessee, to complement its hardware portfolio with digital applications.
TechMah Medical was founded in 2014 and focuses on digital technologies dedicated to orthopaedic surgery that impacts the quality of care and fits into today's cost constraints. Dr. Mohamed Mahfouz, Professor of Biomedical Engineering at the University of Tennessee, is the founder of TechMah Medical. Dr. Mahfouz has over 20 years' experience within Orthopaedics and holds over 300 publications on implant design, imaging, kinematics, sensors, anthropology and forensics. Dr. Mahfouz will continue to be involved with TechMah Medical and will become a long-term partner to LimaCorporate.
The team at TechMah Medical consists of world-class researchers and engineers in bio-wireless electronics, biomechanics, imaging, as well as software and will focus on the release of software and smart instruments which will be used in combination with LimaCorporate implants.
This investment in software know-how, together with the internal 3D printing expertise, brings LimaCorporate to the forefront of digital transformation of the Orthopaedics industry through highly-innovative digital solutions that will change the approach to surgery and standard instrumentation.
Under the terms of the agreement, LimaCorporate will provide funding to TechMah Medical and complete the acquisition as key product development goals are achieved, becoming the sole shareholder of TechMah Medical over time, while Dr. Mahfouz and his team will remain involved with the business. Financial terms have not been disclosed.
"LimaCorporate is the most innovative and agile company in Orthopaedics today and the ideal partner for us to develop our technology and advance the digitization of the industry," said Dr. Mahfouz from TechMah Medical.
Luigi Ferrari, CEO of LimaCorporate, commented, "We are excited about this transaction and the partnership with Dr. Mahfouz. Combined with our proven implant technology and 3D printing capabilities, this acquisition will allow LimaCorporate to develop a strong foothold in all digital applications surrounding Total Joint Replacement by offering surgeons a new intra-operative experience and by providing their patients flexible personalized care."
LimaCorporate is a global medical device company providing reconstructive Orthopaedic solutions to surgeons who face the challenges of improving the quality of life of their patients. Based in Italy, LimaCorporate is committed to the development of innovative products and procedures to enable surgeons to select ideal solution for every individual patient. LimaCorporate's product range includes large joint revision and primary implants and complete extremities solutions including fixation.
About TechMah Medical
TechMah Medical LLC is a technology company focused on delivering orthopedic solutions. We build innovative applications designed to improve patient and clinician experience throughout the joint replacement process. Based in Knoxville, Tennessee, our team of scientists and engineers are driven to improve quality and efficiency through customization.
For additional information on the Company, please visit: limacorporate.com
SOURCE Limacorporate S.p.A.