The amount of the deal was not disclosed.
The acquired portfolio of products are commercially marketed under the Duro-Ject® Osteo-Site®, Osteo-Force® and Vertefix® brands, consisting of needles, injectors and cements. These products, manufactured in Bloomington, Indiana, are used in the market for treating vertebral compression fractures through a minimally invasive procedure.
Led by Greg Groenke, Chief Executive Officer, and based in Owings Mills, Maryland, just outside Baltimore, IZI Medical is a developer, manufacturer, and provider of medical consumable devices used in radiology, radiation therapy and image guided surgery procedures. The company has built a diverse portfolio of products backed by intellectual property and currently sells to more than 1,000 domestic customers as well as internationally across 25 countries.
Additionally, and concurrent with the product family acquisition, Michael Shaffer will be transitioning from Shore Capital Partners to IZI to serve as its Chief Financial Officer, where he will drive the integration of this acquisition and subsequent investments.
Dr. Kieran Murphy, a neuro-interventional radiologist who invented the primary needle and subsequently developed much of the vertebroplasty product line commercialized by Cook, will serve as a key opinion leader and play an integral role in product development for IZI.