Dive Brief:
- Medtronic has bought nano surface technology from Nanovis for use in its next-generation spine fusion implants.
- Nanovis, which disclosed the deal Tuesday, has developed nanotechnology to improve the speed and consistency of bone growth. The company has its own portfolio of spine devices.
- Medtronic will use the technology to develop PEEK interbody spine fusion devices that enhance implant fixation. The technology could help bone grow and fuse with the implant.
Dive Insight:
The Food and Drug Administration cleared Nanovis’ Adaptix PEEK interbody system for use in the U.S. last year. Nanovis created a scaffold with nanotubes and incorporated calcium and phosphate to secure the implant in the spine.
Now, the company is providing its technology for use with Medtronic’s PEEK implant designs, Nanovis CEO Brian More said in a statement. Medtronic’s commercial scale makes it “an ideal partner” to take the technology to market, More said.
The deal follows a period of growth for Medtronic in the spine market. Medtronic reported 7% growth in U.S. core spine and biologics in its most recent quarterly results. The company attributed the growth to its creation of a portfolio of spine implants and enabling technologies including planning software, imaging, robotics, navigation and powered surgical instruments.
Medtronic CEO Geoff Martha said on an earnings call in November that the breadth of the portfolio is a strength.
“We’re seeing a bit of market expansion here. We’re also seeing a bit of market consolidation,” Martha said. “There’s a large tail of spine companies out there that are going away and … this market is leaning towards those with scale and technology.”
Martha expanded on the point at the J.P. Morgan Healthcare Conference last month, telling attendees that there has been a shift to a technology-based market. Financial capabilities and scale are needed to succeed in the new market, the CEO said, and that is changing the competitive dynamics and “driving really strong growth we haven’t seen in spine in decades.”
