Trice Medical continues mission of making elective procedures more efficient through the acquisition of Tenex Health

April 1, 2021 12:08 PM EDT

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

MALVERN, Pa., April 1, 2021 /PRNewswire/ -- Trice Medical announced today that it has acquired Tenex Health, a leader in minimally invasive ultrasonic technology for the treatment of chronic pain in soft tissue and bone.

"We're building a big business in small procedures," Mark Foster, President & CEO of Trice Medical.

Trice Medical is known for its disruptive imaging technology that enables orthopedic procedures to be performed on its portable, tablet-based system. Trice developed the world's first and only platform that combines a disposable needle camera (mi-eye™) with a high-quality 15mghz ultrasound transducer (mi-ultra™). In 2019, Trice acquired Seg-WAY™ Orthopedics, where their endoscopic carpal tunnel release system was made fully disposable and combined with mi-eye, becoming the first company in the world to enable surgeons to perform this procedure anywhere: in the operating room; a procedure room; or in the office.

The addition of Tenex to the portfolio continues this strategy of improving cost efficiencies, by providing an alternative, minimally invasive treatment for patients suffering from tendonitis in the elbow, hip, knee, ankle, and plantar fasciitis pain in the foot, that can also be performed anywhere. The Trice imaging system is portable and has both arthroscopy and ultrasound capabilities. Most Tenex procedures are performed with ultrasound imaging, so the acquisition will create more therapeutic procedures that can be used with the system.  

"We are extremely excited to add this effective and innovative technology to our portfolio and build on our combined strengths," said Mark Foster, CEO and President of Trice Medical. "Hospitals are driving many large-joint and spine procedures into the surgery center. We believe there are several extremities procedures that can be driven further down the chain into the procedure rooms, without the need for the infrastructure, staff, and costs of the operating rooms. Our mission is to provide products that can help with this transition. We are building a big business in small procedures!"

"Tenex has spent significant time and energy over the past few years to find an ideal partner in order to unleash the potential of our products that benefits the patients, physicians, employees, and stakeholders.  We are confident we have found that partner in Trice and see a bright future for the combined organization," said Chuck Grant, CEO of Tenex Health.

With over 117,000 successful cases since launch, the Tenex Health technology improves overall functionality and significantly decreases pain by removing the source of pain, which is the damaged tissue, and helps stimulate a renewed healing response. In May 2019, Tenex added to their growing Tenex TX system family with the TX-Bone, for the percutaneous removal of calcification, osteophytes, and spur formations. The TX-Bone patented technology also provides an effective treatment option for diabetic foot ulcers, significantly reducing the recurrence rate in patients at less than 5%, compared to a 40-65% recurrence rate in conventional treatments.

"Trice and Tenex have both held a common vision for reducing the cost of care by increasing access to advanced technologies.  We believe the combination of these pioneering technologies and complementary product portfolios will accelerate both awareness and adoption of products within each market, providing even greater benefit to an expanded patient population," said Mike Steen, COO of Tenex Health.

About Trice Medical:

At Trice Medical we continuously strive to improve physician experience and patient outcomes by delivering cutting-edge, minimally invasive, imaging solutions for faster diagnosis and recovery. We are consistently developing new products to enhance our portfolio and partnering with experts in the medical field to deliver the latest advancements in diagnostic and surgical care. To learn more about Trice Medical, headquartered in Malvern, PA, visit www.tricemedical.com.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/trice-medical-continues-mission-of-making-elective-procedures-more-efficient-through-the-acquisition-of-tenex-health-301260878.html

SOURCE Trice Medical



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

PRNewswire, Press Releases

Related Entities

Definitive Agreement