OrthoPediatrics Corp. and Mighty Oak Medical Extend Exclusive Partnership for FIREFLY Technology in Pediatric Orthopedics

Rhea-AI Summary

OrthoPediatrics Corp. (Nasdaq: KIDS) announces a five-year extension of its partnership with Mighty Oak Medical, prolonging their exclusive distribution of FIREFLY Technology until August 2027. This collaboration has enhanced pediatric surgical outcomes by providing 3D printed, patient-specific navigation guides that minimize intraoperative radiation. The partnership underscores a shared commitment to improving the lives of children facing orthopedic challenges.

Positive

• Partnership extension with Mighty Oak Medical enhances distribution strategy.
• FIREFLY Technology improves pediatric surgical outcomes without intraoperative radiation.
• Exclusive distribution solidifies OrthoPediatrics' market position in pediatric orthopedics.

Negative

• None.

WARSAW, Ind., Aug. 04, 2021 (GLOBE NEWSWIRE) -- OrthoPediatrics Corp. (“OrthoPediatrics” or the “Company”) (Nasdaq: KIDS), and Mighty Oak Medical, Inc. are pleased to announce the continuation of their navigation partnership, extending its current five-year deal another five years to August 2027. Since August 2017, OrthoPediatrics has been the exclusive distributor of Mighty Oak Medical’s FIREFLY Technology in children’s hospitals across the United States. This extended agreement will allow the Company to continue that exclusivity through August 2027.

Manufactured by Might Oak Medical, FIREFLY® Pedicle Screw Navigation Guides are 3D printed and patient-specific at each planned vertebral level. FIREFLY® Guides address the clear market need for a navigation solution that does not rely on intraoperative radiation, making the technology ideally suited for longer construct cases. OrthoPediatrics regards this partnership as a great synergy and has enjoyed working with Mighty Oak Medical to make scoliosis easier for surgeons, and surgery safer for KIDS.

“Our partnership with OrthoPediatrics is based on a shared mission and passion to help each child who is experiencing a medical challenge. Knowing how much is at stake, the Mighty Oak team has dedicated itself to providing the most detailed concierge presurgical plans, the most exact spine models, and the most accurate patient-specific spine guides available anywhere in the world. It is an honor to work with OrthoPediatrics’ talented sales team and with the pediatric spine surgeons who have embraced FIREFLY Technology in their pursuit of improved surgical outcomes for their young patients. With this extension, we look forward to many more successful years and many more children being positively impacted by FIREFLY,” stated Heidi Frey, President of Mighty Oak Medical.

OrthoPediatrics Chief Financial Officer, and Chief Operating Officer Fred Hite, said, “We are delighted to continue our partnership with Mighty Oak Medical. Together, we have helped children all over the world and look forward to supporting the ongoing needs of pediatric orthopedic surgeons with this technology!”

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 Mighty Oak Medical
Mighty Oak is a medical device incubator and a leader in 3DS printed, patient-specific solutions for the spine. Our robust patent portfolio, both US and worldwide, and pipeline of patient-specific devices for the spine, is unparalleled. By combining the talents of experienced spine surgeons and biomedical engineers, spine surgeries can be made safer and more efficient. Our mission is to improve surgical outcomes in a manner that is both cost-effective and patient centered. We have the freedom to focus on innovative solutions, and our team is developing many exciting and disruptive products that meet these objectives. For more information, please contact info@mightyoakmedical.com.

Investor Contact
Matt Bacso
Gilmartin Group
Matt.bacso@gilmartinir.com

 

FAQ

What is the significance of OrthoPediatrics' partnership with Mighty Oak Medical?

The partnership extension allows OrthoPediatrics to distribute innovative FIREFLY Technology, improving surgical outcomes for pediatric patients.

How long is the extension of the partnership between OrthoPediatrics and Mighty Oak Medical?

The partnership has been extended for five years until August 2027.

What technology does OrthoPediatrics distribute under its partnership with Mighty Oak Medical?

OrthoPediatrics distributes FIREFLY Technology, which consists of 3D printed, patient-specific pedicle screw navigation guides.

How does FIREFLY Technology benefit pediatric surgeries?

FIREFLY Technology minimizes the use of intraoperative radiation, making surgeries safer for children.

When was the original partnership agreement between OrthoPediatrics and Mighty Oak Medical initiated?

The original partnership began in August 2017.