We sent the following press release out today.
Nexa Orthopedics, Inc. and HealthpointCapital Announce Purchase of Futura Biomedical, L.L.C.
Nexa Orthopedics, Inc. is focused on developing innovative products to meet the unmet clinical needs of the extremity surgeon.
New York, NY., USA and Vista, CA, February 23, 2005 -- Nexa Orthopedics, Inc., ("Nexa") a HealthpointCapital portfolio company, announced today the acquisition of Futura Biomedical, L.L.C. ("Futura"). Futura manufactures and distributes the only complete line of forefoot arthroplasty products and is a leading innovator of implants for the correction of flexible flatfoot deformities.
"We see the extremity sector of the orthopedic surgery market as an exciting investment opportunity" said John Foster, HealthpointCapital Chairman and CEO. "Futura provides Nexa with the most experienced management team in the extremity sector with a track record working with thought-leading surgeons in the extremities subspecialties to drive the development of novel surgical products."
"Futura's high growth product lines, excellent network of independent sales agents and distributors and operating platform give Nexa a strong foundation on which to build" said Paul Nichols, President and CEO, Nexa Orthopedics, Inc. "With the support of HealthpointCapital, Nexa is positioned to emerge as a technology leader in extremities orthopedics".
About Nexa Orthopedics, Inc.:
Nexa Orthopedics, Inc. was founded in 2004 by HealthpointCapital to create the pre-eminent company in extremities surgery through a program of business investments, technology in-licensing and internal development. Paul Nichols, Nexa President and CEO, has 15 years experience in extremities orthopedics as both an executive and entrepreneur, including founding Avanta Orthopaedics Corporation.
About HealthpointCapital :
HealthpointCapital Partners II, L.P. is a values-driven, research-based private equity firm exclusively focused on the orthopedic and dental device businesses. HealthpointCapital has $500 million of institutional capital under management.
Where to Find Additional Information
SOURCE: HealthpointCapital , LLC.
CONTACT: Media, John Foster, +1-212-935-7780, jfoster@healthpointcapital.com, or Tim Berkowitz, +1-212-935-7780, or tberkowitz@healthpointcapital.com, both of HealthpointCapital; or Paul Nichols of Nexa Orthopedics, Inc. 1-619-997-0103, or paulnichols@sbcglobal.net
Web sites: Futura Biomedical and HealthpointCapital
