Saturday, March 31, 2018
The Medicrea® Group, pioneering the convergence of healthcare IT and next-generation, outcome-centered spinal device design and manufacturing with UNiD ASI™ (Adaptive Spine Intelligence) technology, announced today that the Company has signed a joint-venture agreement with Motion Medical, Medicrea’s existing distribution partner, to accelerate the adoption of the Group’s products and technologies in Belgium.
Medicrea Belgium capitalizes on Medicrea’s long-standing relationship with its key distributor who has approximately a 15% market share. Motion Medical is headed by Steven Mesdom, who will remain on board with his team to lead the newly-formed subsidiary. Mr. Mesdom, who brings more than a decade of experience with Medicrea’s innovative family of products, stated, “We have had an exceptional track record introducing Medicrea’s flagship platforms to Belgium, including PASS® thoracolumbar fixation. This partnership marks an important step for our continued penetration of the Belgian market.”
Denys Sournac, President and Chief Executive Officer of Medicrea, added, “We are extremely pleased to have successfully negotiated this mutually-beneficial agreement with Mr. Mesdom and to announce the creation of Medicrea Belgium, a direct sales subsidiary. Our collective experience in this market will allow us to capitalize on a direct sales model and immediately generate additional revenue for the group. In addition, we will create new opportunities for growth with the latest patient-specific UNiD ASI™ technologies.”
Medicrea International holds a 51% majority stake in the Medicrea Belgium joint-venture and plans to transition the entity to a fully-owned Medicrea subsidiary over the next years. All revenue generated through the sale of Medicrea products in Belgium will be aggregated in Medicrea’s group consolidated numbers and reported effective from February 2018.
