Teijin Nakashima Medical Co. announced that it has agreed to acquire the orthopedic business, principally spine fixation devices and spine cages of Century Medical, Inc. Opening a new window, an importer and distributer of medical devices in Japan. The sale will be completed in early January 2018.
Teijin has been expanding its commercial involvement with implantable medical devices, including by acquiring a stake in Teijin Nakashima Medical and establishing Teijin Medical Technologies Opening a new window to develop and distribute absorbent bone-connecting material. Spinal implant sales, which account for the third largest orthopedic implant market after artificial joints and bone fixation devices, are expected to continue growing as the Japanese ages.
Teijin Nakashima Medical’s decision to acquire this promising business also reflects its high appraisal of Century Medical’s development, marketing and sales capabilities, in addition to the high quality of its products. Teijin Nakashima Medical will initially focus on expanding sales of spine-fixation devices and spine cages, as well as leverage the two companies’ advanced technologies to develop innovative new products.
The Teijin group, which is targeting annual sales of 10 billion yen in the implantable medical device business by 2020, looks forward to further business growth as a result of entering the spinal device field.
