Acquisition creates first company to offer product line for minimally invasive orthopedic diagnostics and surgical solutions
Malvern, PA (February 7, 2019) – Trice Medical announced today that it is acquiring S.E.G-WAY™ Orthopaedics (SegWAY), a leader in solutions for minimally invasive orthopedic procedures. SegWAY is best known for its Endoscopic Carpal Tunnel Release (ECTR), a device that supports minimally invasive carpal tunnel surgeries. Trice Medical addresses the growing need for accurate, cost-effective orthopedic diagnostic solutions with its mi-eye™, a fully disposable arthroscopy camera.
“The SegWAY acquisition transforms Trice Medical into the first company that offers both minimally invasive orthopedic diagnostic and surgical solutions”, said Jeffrey O’Donnell Sr., CEO of Trice Medical. “We’re looking forward to integrating the SegWAY offerings and building on our combined strengths. One of the areas we’re looking at is using our minimally invasive camera technology in the operating room as well.”
“We’re excited for SegWAY to join forces with Trice,” added Stuart Seymour, CEO & Founder of SegWAY. “In just over five years, growing at 30 to 40 percent year-on-year, we’ve created tremendous traction among orthopedic surgeons. Teaming with Trice Medical, which is advancing technologies that involve cameras and ultrasound, rounds out our offering for those doctors.”
Mark Foster, President and CCO of Trice Medical, commented, “The combined Trice Medical and SegWAY capabilities will benefit surgeons and medical facilities in an efficient, cost-beneficial way. We believe we can solve big problems with small cameras, small instruments and minimal anesthesia for patients.”
More than 600,000 carpal tunnel surgeries are performed annually in the US, with about a quarter of them performed endoscopically. The SegWAY platform is also used in minimally invasive surgery for cubital tunnel syndrome, gastrocnemius equinus contracture and plantar fasciitis.
About Trice Medical:
Trice Medical was founded to fundamentally improve minimally invasive orthopedic diagnostics for the patient and physician providing instant answers. Trice Medical has pioneered fully integrated camera-enabled technology with the mi-eye 2™ and launched the world’s first Dynamic Imaging Platform combining a 15 MHz handheld ultrasound transducer with the mi-eye™ technology on one simple, portable platform. Trice Medical’s mission is to provide more immediate and definitive patient care, eliminating the false reads associated with current indirect modalities and significantly reducing the overall cost to the healthcare system. To learn more visit www.tricemedical.com.
For Investor Relations: Craig Carra, CFO
For Public Relations: Marilyn Gerber