KFx® has completed the sale of its soft tissue fixation system, AppianFx to Conmed Corporation. Details of the transaction have not been disclosed.
It’s eighteen months since ConMed came out of a strategic review that saw it refocusing its efforts and asserting its intention not to sell up. Since that time the company has been on the acquisition trail, most recently (last month) announcing its purchase of integrated access management specialist, SurgiQuest for a reported $265 million.
Now Conmed has git a bit closer to home, bolstering its reconstructive anchor systems range with the addition of AppianFx, having acquired the product from KFx for an undisclosed amount. Interestingly, KFx seems to be fending off sports med titan Arthrex over patent infringmenet claims, having already been paid over $35million in damages pertaining to KFx’s Knotless Double Row Fixation method. ConMed is obviously happy enough with the situation.
“The AppianFx system fits perfectly within the broad Sports Medicine Conmed product line,” remarked Tate Scott, president and CEO of KFx, LLC. “We are pleased to see this remarkable product get the broader exposure possible from the Conmed sales force. Their sales force is already in the procedures in which the AppianFx is used so this should experience great further exposure.”
Source: Business Wire