Wright Medical Group N.V. has acquired IMASCAP SAS, a developer of software-based solutions for preoperative planning of shoulder replacement surgery.
“Software-enhanced solutions are the future, and with the acquisition of IMASCAP, we have the opportunity to take a significant lead in this area,” Robert Palmisano, president and CEO of Wright Medical, said in a company press release.
Under terms of the agreement, Wright acquired 100% of IMASCAP’s outstanding equity on a fully diluted basis for total consideration, net of acquired cash, of approximately $88.8 million, consisting of approximately $46.9 million, in cash and approximately $15.6 million, of Wright ordinary shares, payable at closing, and approximately $26.3 million, in potential earnouts and milestone payments for new software modules and a potential future implant system.
IMASCAP’s Glenosys technology is the preoperative planning software behind Wright’s Blueprint 3-D planning software, which allows the surgeon to simulate the position of a shoulder prosthesis using CT image data.
“We believe the future of orthopedic implant surgery will include advanced elements of artificial intelligence and augmented reality. When fully developed, we believe such software enabled surgery will leapfrog the current mechanical approaches some orthopedic companies have developed primarily for hip and knee replacement surgery,” Palmisano said in the release.
Jean Chaoui, president and CEO of IMASCAP, added, “We believe that Wright, with its global leadership position in the extremities market and expertise in medical education and product development, is the ideal partner to realize the full potential of IMASCAP’s technology and product pipeline and will continue to provide the focus and investment to enable it to reach its full potential.”