Cartiva sold to Wright Medical Group for $435m

Wright Medical Group has acquired the orthopedic medical device firm Cartiva, which develops solutions to treat patients with cartilage damage, osteoarthritis and other musculoskeletal conditions. Two years ago Cartiva received US premarket approval for its synthetic cartilage implant, which was developed to treat arthritis at the base of the big toe. It can be implanted in just over half an hour, and is made of biocompatible, durable and low-friction organic polymer, which works in a similar way to natural cartilage. This acquisition of Cartiva will facilitate Wright Medical Group’s expansion of its existing global extremities and biologics business, and also add an advanced technology for use in high-volume foot and ankle procedures.

Robert Palmisano, CEO and president of Wright Medical Group, said: “We are delighted to welcome Cartiva as a member of the Wright family. With approximately 120,000 procedures for great toe arthritis performed each year in the U.S., we believe that this technology provides a proven alternative to fusion that reduces joint pain without sacrificing the foot’s natural movement and retains mobility and range of motion.”