When it comes to surgical technology, robotics continues to be one of the most promising areas to watch. Recently, leading orthopaedic’s company Corin Group announced it is acquiring OMNI Orthopaedics, which specializes in robotic-assisted total knee replacement.
Corin Group is backed by large cap private equity firm Permira. It is based out of the UK and seeking aggressive growth in the U.S. and other geographies.
Corin’s CEO Stefano Alfonsi said, “We are delighted to welcome the innovative and talented OMNI team into the Corin global family. We look forward to working together as a combined organisation to further develop our presence in the world’s largest market – the United States. With the combination of Corin’s unique Optimised Positioning System (OPS™) for the hip and the OMNIBotics® platform for the knee, Corin is now uniquely positioned to address functional patient-specific joint replacement.”
OMNI meanwhile is at the forefront of robotic-assisted knee replacement. It is also located in Ohio providing Corin with added presence in the U.S. The Company was founded in 1999 by a team of medical device engineers. Their OMNIBotics is a unique imageless total knee replacement solution which combines a robotic cutting guide with the world’s first robotic tool to measure ligament function.
OMNI’s CEO Rick Epstein added, “It is the perfect time to be part of a larger organisation that shares our dedication to improving the lives of individual patients through technological innovation. We are thrilled to be joining Corin to maximise the potential of our robotic solutions, adding another unique technology to their ecosystem”
Permira, the alternatives asset manager with 200 billion euro under management, commented through Henry Minello, Principal of its Healthcare team, “The US market for robotics in orthopaedics is growing at a very rapid pace, and with the addition of OMNI’s technologies, we expect Corin to remain at the forefront of development in robotics and computer assisted surgery. We are excited about the potential to scale OMNI’s highly innovative products in the US and into other geographies where Corin operates. We are very pleased to support Corin’s management to bring these life changing technologies into new markets. OMNI will also strengthen Corin’s footprint in the US, an exciting market experiencing strong technology adoption.”