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Multi-Million Deal For Kiwi Medical-Tech Company
Multi-Million Deal For Kiwi Medical-Tech Company
Three year deal for Enztec with orthopaedic giant DePuy.
4 August 2008. Christchurch , New Zealand- Medical technology company Enztec has unveiled a deal to supply innovative surgical instruments to DePuy International, one of the top four orthopaedic companies in the world.
"DePuy are the 'Microsoft' of the orthopaedic world so have huge market reach," says Enztec General Manager Stephen O'Neill.
DePuy have 6000 employees and an annual turnover of $US4.5 billion, and is a subsidiary of Johnson and Johnson.
Mr O'Neill said the deal was initiated in 2006 for Enztec to develop three surgical instruments to be sold with DePuy's new portfolio of Sigma and LCS Knee implants and associated products.
"The product suite, including our instruments, was recently launched at the annual conference of the American Academy of Orthopaedic Surgeons to a great response".
"With revenue earned so far and our forecast earnings this year and next, this project is worth multi-millions to Enztec."
Mr O'Neill said although DePuy contracts a number of organisations around the world to design and manufacture products, this deal was unique.
"Rather than simply supplying DePuy with products to their specifications, they have agreed to be a distributor of Enztec products, which is a first for them.
"Our branding is retained on the instruments, which is fantastic for our profile in the orthopaedic market.
"It signals a move up the value chain for Enztec - we are not simply a contract manufacturer, but a significant creator of intellectual property in our own right," says Mr O'Neill.
Mr O'Neill said the DePuy deal will help the company accelerate the growth of the company.
ABOUT ENZTEC
Enztec is a designer and manufacturer of surgical devices for the orthopaedic industry. Its products include custom implants for tumour and trauma surgeries and instrumentation based around Hip and Knee replacements, and are sold throughout the world by the largest orthopaedic companies.
Headquartered in Christchurch, Enztec was formed in 1993 and has 30 staff. It is privately held.
ENDS
www.enztec.co.nz
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