Implanet, a medical technology company specializing in vertebral and knee-surgery implants, is today announcing it has entered into a Private Label Distribution Agreement with SeaSpine, Inc., a wholly owned subsidiary of SeaSpine Holdings Corporation (NASDAQ: SPNE) covering the Jazz¬Æ portfolio in the United States, the world‚Äôs largest market for the treatment of spinal conditions, worth over $6¬†billion1.
SeaSpine, a global medical technology company focused on surgical solutions for the treatment of spinal disorders, will have exclusive rights to sell the Jazz¬Æ line under its own brand name across the US. SeaSpine will also have the right to sell Jazz Cap¬Æ, a proprietary implant developed specifically to treat degenerative spinal trauma conditions, once regulatory clearance has been obtained.
Under the partnership arrangement, Implanet will continue to market the Jazz¬Æ portfolio to existing US customers.
The agreement, which has an initial term of six years and includes contractual annual minimum payments, will also give SeaSpine exclusive access to co-developed products utilizing Implanet‚Äôs Jazz¬Æ technology.
‚ÄúThis partnership represents a major step forward for Implanet and is a testament to the tremendous clinical value of our proprietary Jazz¬Æ technology‚Äù, commented Ludovic Lastennet, Implanet‚Äôs Chief Executive Officer.¬†‚ÄúEstablishing ourselves in the US market has been our core strategy since 2016. SeaSpine‚Äôs sales and marketing team in the United States will accelerate our expansion in the world‚Äôs largest market. The partnership demonstrates our ability to develop disruptive technologies that meet market demand for new innovations. This fits our medium-term strategic development plan, which is predicated on rolling out our direct sales model in France, the US and high-potential European markets (United Kingdom and Germany) while developing select strategic partnerships, such as that recently established with Kico Knee Innovation to distribute our Madison knee implant line in the United States and Australia.‚Äù
Keith Valentine, SeaSpine President and Chief Executive Officer, added: ‚ÄúWe are pleased to partner with Implanet to provide Jazz¬Æ and Jazz Cap¬Æ technology to our distributor partners, surgeon customers and their patients. With its significant clinical history, the Jazz¬Æ range will be a welcome strategic addition to our comprehensive spinal implant portfolio.‚Äù