Altana advises Safe Othopaedics in its development in Japan and the United Kingdom
25/06/2018 - Articles and publications
Paris, 21 June 2018
Altana advised Safe Orthopaedics, a medtech listed on the Euronext, in the signing of an exclusive marketing agreement with KiSCO Co., Ltd., subsidiary of the Japanese group Otsuka Medical Devices, as well as in the acquisition of the sales force of the British company Qspine.
This double transaction is part of the development strategy of Safe Orthopaedics, and will be financed through the capital increase with maintenance of the preferential subscription rights announced on 12 June 2018 and to which KiSCO has undertaken to subscribe.
KiSCO Co., Ltd.’s activity is the development, production and sale of orthopedic devices. The exclusive marketing agreement covers the rights to market and distribute Safe Orthopaedics products on the Japanese market. The agreement provides for a milestone cash payment upon the approval of the SteriSpine line in Japan, expected in 2019.
Qspine has been the distributor of Safe Orthopaedics products in the UK. The second largest market in Europe for back surgery by lumbar spinal fusion, it is estimated at €105M, including €12M for spinal fracture disorders alone. Following this acquisition, Safe Orthopaedics has a sales force that permits it to directly assure the distribution of its own products in the United Kingdom; Safe Orthopaedics also becomes the exclusive distributor of the SURE technology, Qspine’s innovative light retractor, for France and will also ensure its promotion in the UK.
Through these transaction, Altana once again demonstrates its expertise in life sciences and it strong position on cross-border transactions.
Counsel to Safe Orthopaedics
In France : Altana with Jean-Nicolas Soret (partner) et Aurore Lacroix
In the United Kingdom : Walker Morris with Daniel O’Gorman and Andrew Rayment (partners)
Counsel to KiSCO
Bersay with Yves Ardaillou (partner) et Christopher Minnich
Counsel to QSipne
Addelshaw Goddard with David Anderson (partner) et Fiona Dickson