SMALL BONE INNOVATIONS ESTABLISHES ASIA PACIFIC JOINT VENTURE
New York, NY, December 15, 2009 –Small Bone Innovations, Inc. (SBi), a leading, privately held orthopedics company focused exclusively on technologies and treatments for the small bones & joints, announced the formation of a joint venture with Khazanah Nasional Berhad (Khazanah) and Malaysian Technology Development Corporation Sdn. Bhd. (MTDC). The joint venture, SBi Asia Pacific Sdn. Bhd. (SBi APAC), is based in Kuala Lumpur, Malaysia.
Dr.h.c. Anthony G. Viscogliosi, Executive Chairman and CEO of SBi, said: “The establishment of SBi APAC continues the execution of our global hub strategy. Malaysia offers several advantages for companies seeking to expand in the region, including its business-friendly economy, strong regional growth prospects, highly productive workforce, world-class infrastructure, and its central location in the Asia Pacific geography.
The SR™ PIP Implants are designed to replace the anatomic joint surfaces while, preserving the maximum amount of bone and minimizing soft tissue disruption. The SR™ PIP Implants consists of two pieces: one piece has two components, a cobalt chrome stem and an attached ultra-high molecular weight polyethylene (UHMWPE) component, and the other piece is a titanium alloy stem. Both stems have a textured surface that facilitates osseointegration.
Florian Kemmerich, President of SBi International, will oversee the implementation and execution of SBi’s expansion in the underpenetrated Asia Pacific market from its newly established Malaysian hub.
Dr. Gill said: “SBi’s formation of a joint venture in Malaysia is something of a breakthrough opportunity for us, because it not only brings SBi’s technologies to the Asia Pacific region, including the SRTM PIP implants, but also demonstrates SBi’s commitment to develop implants specifically designed for Asian anatomies. Obviously, this is good news for thousands of patients and future arthritis sufferers.”
Torsten Fuehrer, as newly appointed General Manager of the joint venture, is leading the establishment of SBi APAC and reports to Mr. Kemmerich. He has an excellent background to execute SBi's plans in the region based on his many years in management and healthcare in Asia Pacific.
Mr. Fuehrer, who has lived and worked in Asia for 12 years and is based in Kuala Lumpur, has set up three offices/entities in the region for global medical and technology businesses and is intimately familiar with the healthcare markets in Malaysia, Singapore, Indonesia and China, as well as other countries in the region.
Additionally, SBi APAC has recently expanded its management with the hiring of a Senior Finance Manager and a Regional Sales Manager, each with more than a decade of experience in Asia in their particular fields.
About Small Bone Innovations, Inc.
Small Bone Innovations, Inc. (SBi), founded in 2004 by Viscogliosi Brothers, LLC, (VB), the New York-based merchant banking firm specializing in musculoskeletal/orthopedics, is the first company to focus purely on small bones & joints. By integrating established companies and professionals in the field, SBi offers a broad, clinically proven portfolio of products and technologies to treat trauma and diseases in small bones & joints. SBi has facilities in New York; Morrisville, PA; Bourg-en-Bresse, France; Donaueschingen, Germany and Kuala Lumpur, Malaysia.
About Viscogliosi Bros., LLC
Established by Marc R. Viscogliosi, John J. Viscogliosi and Dr.h.c. Anthony G. Viscogliosi, Executive Chairman, in New York City in 1999, Viscogliosi Bros., LLC (VB) was the first venture capital/private equity and merchant banking firm dedicated exclusively to the musculoskeletal/orthopedics sector of the health care industry. As principals of VB, the Viscogliosi brothers have a combined total of nearly half a century of experience analyzing and investing in the musculoskeletal/orthopedics sector.
VB's mission is to create, build and finance companies founded on innovations developed by surgeons and uniquely focused on "life changing" musculoskeletal/orthopedic technologies. VB has worldwide surgeon, industry and trade relationships, and significant financial expertise in the musculoskeletal/orthopedic sector.
The Viscogliosi brothers have pioneered more than 170 financial, strategic and management initiatives for companies in the musculoskeletal/orthopedic sector, from start-up, seed and development stage all the way to exit. These initiatives have helped people live better lives through the orthopedic and spinal products developed, marketed and sold by the companies VB has assisted in developing and financing.
For more information about VB, please visit: www.vbllc.com
Forward-looking statements
This news release contains forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting SBi's business including increased competition; the ability of SBi to expand its operations and to attract and retain qualified professionals; technological obsolescence; general economic conditions; and other risks.