Tokyo, Japan, October 26, 2017 --- Teijin Nakashima Medical Co., Ltd., a Teijin group company that develops, manufactures and distributes artificial joints and trauma devices, announced today that it has agreed to acquire the orthopedic business, principally spine fixation devices and spine cages of Century Medical, Inc., an importer and distributer of medical devices in Japan. The sale will be completed in early January 2018.
Teijin has been expanding its commercial involvement with implantable medical devices, including by acquiring a stake in Teijin Nakashima Medical and establishing Teijin Medical Technologies to develop and distribute absorbent bone-connecting material. Spinal implant sales, which account for the third largest orthopedic implant market after artificial joints and bone fixation devices, are expected to continue growing as the Japanese ages.
Teijin Nakashima Medical’s decision to acquire this promising business also reflects its high appraisal of Century Medical’s development, marketing and sales capabilities, in addition to the high quality of its products. Teijin Nakashima Medical will initially focus on expanding sales of spine-fixation devices and spine cages, as well as leverage the two companies’ advanced technologies to develop innovative new products.
The Teijin group, which is targeting annual sales of 10 billion yen in the implantable medical device business by 2020, looks forward to further business growth as a result of entering the spinal device field.
Century Medical, Inc.
|Capital||JPY 300 million|
|President & CEO||Mr. Takahiko Motani|
|Employees||383 (October 2017)|
|Main business||Development, import and sale of medical devices|
About the Teijin Group
Teijin (TSE: 3401) is a technology-driven global group offering advanced solutions in the areas of environmental value; safety, security and disaster mitigation; and demographic change and increased health consciousness. Its main fields of operation are high-performance fibers such as aramid, carbon fibers & composites, healthcare, films, resin & plastic processing, polyester fibers, products converting and IT. The group has some 170 companies and around 19,000 employees spread out over 20 countries worldwide. It posted consolidated sales of JPY741.3 billion (USD 6.5 billion) and total assets of JPY 964.1 billion (USD 8.5 billion) in the fiscal year ending March 31, 2017.
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