Joint press release with Praxim SA
Synthes-Stratec sells division for computer assisted surgery, Medivision, to French Praxim SA
Oberdorf/Switzerland, June 20, 2003
Synthes-Stratec announced today that it will divest its Medivision business (Computer Assisted Surgery - CAS) in the frame of a share deal - the financial terms have not been disclosed. The new owner of Medivision is Praxim SA, a private French company headquartered in Grenoble. Praxim will acquire the assets and liabilities of Medivision including all employees, customers, and contracts.
The rationale behind the divestment
The reason behind the divestiture from the Medivision business is that software development and high-tech electronics are not a part of Synthes-Stratec’s core competencies. Additionally, the decision to divest Medivision was previously announced by Synthes-Stratec and the purpose of this communication is to announce the successful conclusion of that effort.
Statements by Praxim and Synthes-Stratec CEOs
Stephane Lavallée, CEO of Praxim SA, is convinced that “Medivision represents a tremendous opportunity to reinforce our position in Europe and to expand our combined research and development team including the specialized CAS and robotics laboratories of TIMC laboratory, Joseph Fournier University Grenoble, France and the Maurice E. Müller Institute of the University of Berne Switzerland.”
Hansjörg Wyss, Chairman & CEO of Synthes-Stratec, is pleased that a beneficial solution was found to bring the best of CAS to existing customers, surgeons, and patients around the world. "The continued cooperation between Praxim, Maurice E. Müller Institute, and the AO/ASIF-Foundation will secure a smooth transition process for our customers with a promising perspective. This was one of the main areas of focus in finding a new owner for Medivision."
Synthes-Stratec - a leading orthopedic trauma and spine company
Synthes-Stratec is a leading provider of instruments, implants, and power tools for the ortho-pedic and spine surgery market. Synthes-Stratec develops, manufactures, and distributes products for the surgical treatment of bone fractures, maxillofacial trauma, or deformities, and a full range of products and systems for spine surgery.
Praxim - provider of innovative surgical software protocols for CAS
Praxim, founded in 1995, has partnered with the University Joseph Fournier, Grenoble, and the TIMC Laboratory, is one of the world leading research laboratories for CAS and robotics. Praxim has developed specialized CAS software for over 20 leading implant manufacturers, providing clinically specific CAS protocols for use on the 100% open platform SURGETICS™ Station.
For further information please contact
Peter Fehlmann, Investor Relations, Synthes-Stratec, Inc.
Phone: +41 61 965 63 39, Fax: +41 61 965 66 06, e-mail: ir.info@synthes.com