MALVERN, PA — TELA Bio, Inc. (NASDAQ: TELA), a key player in the development of innovative medical devices, has announced the sale of its distribution rights for the NIVIS Fibrillar Collagen Pack to MiMedx Group, Inc., a leader in regenerative medicine based in Atlanta. The deal, structured to include an initial payment of $5.0 million with the potential for future payments totaling up to $7.0 million based on sales performance, underscores the growing importance of advanced wound care solutions in the market.
NIVIS, known for its absorbent collagen matrix, is designed for the management of wounds that exude moderate to high levels of fluid and for controlling minor bleeding. Its acquisition by MiMedx, a company with a strong footprint in the wound care, burn, and surgical sectors, marks a significant step towards enhancing the availability and adoption of this cutting-edge product.
Antony Koblish, President and CEO of TELA Bio, expressed enthusiasm about the partnership, noting MiMedx’s proven track record in driving market share and delivering high-quality wound healing products. “We are confident in MiMedx’s capabilities and in their ability to bring NIVIS, a product designed to our specifications, to more surgeons and patients,” Koblish said. He also highlighted TELA Bio’s continued focus on expanding its portfolio of hernia repair and reconstructive surgery products, including the introduction of new hernia mesh fixation devices and configurations of OviTex® Reinforced Tissue Matrix tailored for inguinal hernia repairs.
This transaction not only signifies a promising future for NIVIS but also illustrates the evolving landscape of the healthcare industry, where collaboration between companies can lead to improved patient outcomes and accelerated growth. As TELA Bio and MiMedx embark on this venture, the potential for NIVIS to reach a broader audience and make a significant impact in the field of wound management becomes increasingly tangible.
For industry watchers, this deal is a testament to the value of innovation in healthcare and the strategic maneuvers companies are willing to undertake to ensure their technologies reach their full market potential. As TELA Bio refines its focus on hernia repair and reconstructive surgery, and MiMedx expands its portfolio in regenerative medicine, both companies are poised to make substantial contributions to improving surgical outcomes and patient care.
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