WALTHAM, Mass.--(BUSINESS WIRE)--Medical Capital Advisors, a specialized mergers and acquisitions consulting firm focused solely on the medical technology industry, today announced that it advised The Musculoskeletal Transplant Foundation (MTF), the world’s largest tissue bank, in its new Joint Development and Distribution Agreement and sale of certain assets to CONMED Corporation (NASDAQ:CNMD).
The agreement closed on January 3, 2012 and launches a long term joint relationship that will see CONMED's subsidiary, CONMED Linvatec, serve as the exclusive world-wide marketing representative for MTF's sports medicine allograft tissues. CONMED Linvatec will also assume responsibility for the global distribution of MTF's Cascade Platelet-Rich Plasma (PRP) product, which uses a patient's own blood components to aid in the healing process.
MTF, headquartered in New Jersey, has grown through a decades-long commitment to sourcing and delivering quality allograft tissue. MTF will provide CONMED a portion of its service revenue for the activities associated with educating and consulting with surgeons and medical facilities. CONMED will make certain payments to MTF over the next four years for the rights to promote MTF sports tissues, based on particular levels of tissue supply being maintained.
Medical Capital Advisors acted as exclusive advisor to MTF, providing the Executive Team and the Board of Directors with sophisticated analysis and strategic advice that helped to identify CONMED as a viable partner through a rigorous analysis and auction process.
“We believe this agreement represents the best of both worlds for MTF and CONMED, and we’re thrilled to have been a part of it,” said Mr. Christopher Velis, Chairman and CEO of Medical Capital Advisors. “MTF’s dedication to its work, its donors, and its patients helped it become a critical and wide-reaching supplier for the medical industry, and the CONMED relationship will build further on that foundation.”
“This is a very positive step for MTF that comes after a great deal of hard work and analysis,” added Bruce Stroever, CEO of MTF. “Medical Capital Advisors was a tremendous asset through the process from start to finish. The team’s insight led us to expand our horizons to include options well beyond our original perspective, and that strategic guidance helped bring this exciting new partnership with CONMED to life.”
About The Musculoskeletal Transplant Foundation
The Musculoskeletal Transplant Foundation is a non-profit service organization dedicated to providing quality allograft tissue through a commitment to excellence in education, research, recovery and care for recipients, donors and their families. MTF is a national consortium comprised of academic medical institutions, organ procurement organizations and tissue recovery organizations. Since its inception in 1987, the organization has recovered more than 85,000 donors and distributed more than 4 million grafts for transplantation.
About CONMED
CONMED is a medical technology company with an emphasis on surgical devices and equipment for minimally invasive procedures and patient monitoring. The Company's products serve the clinical areas of arthroscopy, powered surgical instruments, electrosurgery, cardiac monitoring disposables, endosurgery and endoscopic technologies. They are used by surgeons and physicians in a variety of specialties including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology. Headquartered in Utica, New York, the Company's 3,400 employees distribute its products worldwide from several manufacturing locations.
About Medical Capital Advisors, LLC
Medical Capital Advisors, LLC provides sophisticated strategic and M&A advice to leaders in the medical technology and health sectors, and only those sectors. Focus, Integrity, Access, and Drive are the factors that set the firm’s advisory teams apart. All energy is directed to delivering the highest level of market insight and client service to firms in the medical technology and health related sectors, where success demands expertise, strategic perspective, and creative problem solving. For more information, please visit www.medcapadvisors.com.