Ortho Development Corporation signs exclusive distribution agreement with China Pioneer Pharma Holdings Limited
DRAPER, Utah, July 5, 2017 - Ortho Development® Corporation (ODEV) is pleased to announce the signing of an agreement with China Pioneer Pharma Holdings Limited (CPP) as the exclusive distributor of ODEV’s Balanced Knee® System in the People’s Republic of China.
China has recently surpassed Japan as the second largest market for orthopedic medical devices in the world. With an aging population and improvement in health insurance policies, the demand for total knee replacement procedures in China has been increasing rapidly. “Our strategic vision includes expanding distribution beyond the U.S. and Japanese markets into high-growth, emerging markets like China,” said Brent Bartholomew, President of ODEV. “We have been seeking the right distribution partner in China for quite some time, and are delighted to be working with an established, reputable partner like CPP.”
CPP is one of the largest comprehensive marketing, promotion and channel management service providers dedicated to importing pharmaceutical products and medical devices in China. Their portfolio includes ophthalmology, pain management, cardiovascular, respiratory, gastroenterology, immunology, orthopedics and other therapeutic areas, and a range of medical devices covering various medical specialties, including ophthalmology, odontology and wound care, etc. As of 31 December 2016, CPP sold products through its nationwide marketing, promotion and channel management service networks to approximately 30,000 hospitals and other medical institutions and over 108,000 pharmacies across all provinces, municipalities and autonomous regions in China.
Ortho Development’s Balanced Knee® System (BKS) includes implants and instrumentation for primary and revision total knee replacement procedures. The design is based on proven technology with over 17 years of successful clinical results and more than 70,000 implanted worldwide. BKS implants are offered in a wide range of sizes and options to allow optimal anatomical fit for a variety of patients. The system has a patented locking mechanism specifically designed to minimize the micro-motion between the plastic tibial insert and the titanium tibial base plate implants. Simple and intuitive instrumentation facilitates reproducibility in the hands of every surgeon and aides in proper intraoperative balancing of the knee joint.
The medical device registration in China for the BKS has already been completed, and CPP intends to begin marketing the product immediately. Following the tender and bidding process with specific hospitals, CPP expects the first knee replacement procedures in China with BKS will occur in early 2018.
About Ortho Development Corporation
Ortho Development Corporation was founded in 1994 and is a privately held company located in Draper, Utah, U.S.A. The company is passionate about designing and manufacturing the best, clinically proven, high-performance orthopedic devices in the world. The primary product focus is total knee and hip joint replacement; and also includes trauma fracture repair, and spine treatment. Ortho Development products are distributed through a growing network of independent sales reps and distributors and are used by hundreds of surgeons at world-renowned orthopaedic hospitals and teaching universities, as well as in a widespread number of regional and community hospitals. The company’s majority shareholder is Japan Medical Dynamic Marketing, Inc. (Japan MDM), a publicly-traded, Japanese medical device distribution company.