Posted on 07/02/2007 in Medical Company Product News Biomet has announced that its arthoscopy subsidiary Biomet Sports Medicine has signed a licensing agreement with Marc Tec, an affiliated company of Bonutti Technologies, which is involved in minimally invasive surgical instrumentation.
According to the agreement, Biomet Sports Medicine will collaborate with Peter Bonutti on the development of novel products in suture anchors and meniscal repair.
Biomet reports that its sports medicine subsidiary offers a range of products in the arthoscopy sector, with developments in instruments for anterior cruciate ligament and arthroscopic shoulder repair, and technique-specific implants.
Arthoscopy, a business worth an estimated $1.7 billion (0.86 billion pounds) worldwide, involves use of a specially-designed endoscope for the examination of the interior of joints.
Daniel P Hanin, interim president and chief executive officer of Biomet, said: "The completion of this licensing agreement will lead to the improvement of existing products and allow us to introduce unique, innovative products into the sports medicine market."
In March 2006, Biomet announced the retirement of its president and chief executive officer Dane A Miller. Daniel P Hanin, then senior vice president, general counsel and member of the board, was appointed to the position of interim president and chief executive.Other news stories from 07/02/2007
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