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Kyocera to purchase major assets of Renovis Surgical Technologies POST Online Media

Kyocera to purchase major assets of Renovis Surgical Technologies

Staff Writer | Thursday January 17, 2019 4:21AM ET
Renovis Surgical
Acquisition   Kyocera currently manufactures medical products such as artificial joints

Renovis Surgical Technologies announced that it has finalized an agreement to sell major assets related to its artificial joint, trauma and spinal product businesses to Kyocera International.


The assets will be transferred into a new California-based company, wholly owned by Kyocera International, Inc., to be named Kyocera Medical Technologies, Inc., in March 2019.

The U.S. orthopedic implant market totals approximately US$20 billion, representing about 60% of the global market, with continued growth expected.

Kyocera currently manufactures medical products such as artificial joints and dental implants primarily for sale in Japan. To grow internationally, Kyocera obtained U.S. FDA 510(k) clearance for its artificial hip joints and began selling them in the U.S. in 2017.

Kyocera plans to expand its U.S. medical equipment business through this asset purchase. The newly established company will develop high-value products that improve patient health and quality of life through synergies between Kyocera's proprietary technologies and those purchased from Renovis.

 

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