OrthoPediatrics Announces Entry into a Distribution Agreement with SeaSpine to Exclusively Distribute the 7D Surgical FLASH Navigation Platform for Pediatric Applications

Rhea-AI Summary

OrthoPediatrics Corp. (Nasdaq: KIDS) has announced a 5-year exclusive distribution agreement with SeaSpine Orthopedics to distribute the 7D Surgical FLASH™ Navigation platform for pediatric applications. This agreement allows OrthoPediatrics to enhance surgical workflows and patient safety in pediatric orthopedic surgeries by utilizing radiation-free technology. The FLASH Navigation system, featuring innovative camera-based technology, eliminates the need for intra-operative CT and fluoroscopy, significantly reducing radiation exposure. This partnership aligns with OrthoPediatrics' commitment to pediatric orthopedics and innovation.

Positive

• Exclusive 5-year partnership with SeaSpine enhances OrthoPediatrics' product offerings.
• Distribution of the innovative 7D FLASH Navigation technology improves surgical workflow.
• Technology reduces radiation exposure during surgeries, enhancing patient safety.

Negative

• None.

Enables OrthoPediatrics to Further Address Full Patient Continuum of Care for Pediatric Orthopedic Surgeons with Market-Leading, Radiation-Free Navigation Technology

WARSAW, Ind., Sept. 09, 2021 (GLOBE NEWSWIRE) -- OrthoPediatrics Corp. (“OrthoPediatrics” or the “Company”) (Nasdaq: KIDS), a company focused exclusively on advancing the field of pediatric orthopedics, today announced they have entered into a distribution agreement with SeaSpine® Orthopedics Corporation, a wholly-owned subsidiary of SeaSpine Holdings Corporation (Nasdaq: SPNE), to exclusively distribute the 7D Surgical FLASH™ Navigation platform for pediatric applications. The 5-year exclusive agreement enables OrthoPediatrics to further address the full patient continuum of care for pediatric orthopedic surgeons with market-leading, radiation-free navigation technology.

“We are excited to enter into this relationship with SeaSpine enabling us to provide our pediatric orthopedic customers with direct access to the best-in-class 7D navigation technology,” said Greg Odle, Executive Vice President of OrthoPediatrics. “OrthoPediatrics acknowledges the importance of providing complete procedural solutions and innovations to improve surgical workflow and patient safety.”

The 7D FLASH Navigation System is the only approved image guidance system that utilizes a novel and proprietary camera-based technology and machine-vision algorithms. The system uses only visible light, reducing radiation exposure by eliminating intra-operative CT (computed tomography) and fluoroscopy for purposes of registration, both of which commonly are used with other technologies. This results in a registration workflow that takes just seconds and allows surgeons to control the system within the sterile field.

“Our commitment to innovation demonstrated by this partnership combined with the recent extension of our distribution agreement with Mighty Oak Medical to sell its Firefly technology is part of our strategy to offer a unique suite of enabling technologies,” said Fred Hite, OrthoPediatrics’ COO/CFO. “Combining these navigation solutions with the most comprehensive pediatric-focused offering of orthopedic product solutions globally, we believe this agreement will also allow us to provide a capital-efficient means of acquiring the 7D FLASH navigation system for our customers, and for the betterment of children everywhere.”

“This transaction enhances our team’s ability to do what we love – accelerate innovation and pioneer ground-breaking technologies,” said Beau Standish, SeaSpine’s President, Enabling Technologies. “Leveraging our expertise in machine-vision, intelligent software and advanced optics, with OrthoPediatrics’ comprehensive channel to market, provides a clear pathway to expand our reach and deliver tremendous value to the pediatric patient population.”

About OrthoPediatrics Corp.
Founded in 2006, OrthoPediatrics is an orthopedic company focused exclusively on advancing the field of pediatric orthopedics. As such it has developed the most comprehensive product offering to the pediatric orthopedic market to improve the lives of children with orthopedic conditions. OrthoPediatrics currently markets 36 surgical systems that serve three of the largest categories within the pediatric orthopedic market. This product offering spans trauma and deformity, scoliosis, and sports medicine/other procedures. OrthoPediatrics’ global sales organization is focused exclusively on pediatric orthopedics and distributes its products in the United States and 45 countries outside the United States. For more information, please visit www.orthopediatrics.com.

About SeaSpine
SeaSpine (www.seaspine.com) is a global medical technology company focused on the design, development and commercialization of surgical solutions for the treatment of patients suffering from spinal disorders. SeaSpine has a comprehensive portfolio of orthobiologics and spinal implants solutions, as well as a market leading surgical navigation system, to meet the varying combinations of products and enabling technologies that neurosurgeons and orthopedic spine surgeons need to perform fusion procedures on the lumbar, thoracic and cervical spine. SeaSpine’s orthobiologics products consist of a broad range of advanced and traditional bone graft substitutes that are designed to improve bone fusion rates following a wide range of orthopedic surgeries, including spine, hip, and extremities procedures. SeaSpine’s spinal implants portfolio consists of an extensive line of products to facilitate spinal fusion in degenerative, minimally invasive surgery (MIS), and complex spinal deformity procedures. Expertise in orthobiologic sciences, as well as spinal implants, software and advanced optics product development, allows SeaSpine to offer its surgeon customers a differentiated portfolio and a complete solution to meet their fusion requirements. SeaSpine currently markets its products in the United States and in approximately 30 countries worldwide through a committed network of increasingly exclusive distribution partners.

Investor Contacts
Gilmartin Group

For OrthoPediatrics:
Matt Bacso, CFA
Matt.bacso@gilmartinir.com

For SeaSpine:
Leigh Salvo
leigh@gilmartinir.com or ir@seaspine.com

FAQ

What is the distribution agreement announced by OrthoPediatrics?

OrthoPediatrics has entered into a 5-year exclusive distribution agreement with SeaSpine to distribute the 7D Surgical FLASH™ Navigation platform for pediatric applications.

What benefits does the 7D FLASH Navigation provide in pediatric surgeries?

The 7D FLASH Navigation system offers radiation-free navigation, improving surgical workflow and patient safety by eliminating intra-operative CT and fluoroscopy.

When was the distribution agreement with SeaSpine announced?

The distribution agreement was announced on September 9, 2021.

How does the agreement impact OrthoPediatrics' market presence?

The agreement allows OrthoPediatrics to expand its market presence by offering cutting-edge navigation technology tailored for pediatric orthopedic surgeons.

What is the stock symbol for OrthoPediatrics?

The stock symbol for OrthoPediatrics is KIDS.