SAN DANIELE DEL FRIULI, Italy, Sept. 28, 2015 /CNW/ - Lima Corporate announces it has entered into an agreement with Zimmer Biomet Holdings, Inc. for the acquisition of the Zimmer® Unicompartmental High Flex Knee (ZUK) and the Discovery™ Elbow System for the Japanese market. The rights to these products were previously acquired by Lima Corporate for the European Economic Area (EEA) and Switzerland. The agreement is still pending the approval of the Japan Fair Trade Commission.
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The Japanese knee market is estimated to be more than $450 million and is expected to continue to grow in the coming years due to the aging population. The unicompartmental knee market represents approximately 4.5% of the total knee market. The total Japanese elbow market is estimated to be more than $2.4 million, part of the fast-growing extremities market where Lima Corporate is already a leader with the SMR Modular Shoulder System which includes the Reverse Total Shoulder launched this year.
"This agreement gives Lima Corporate a big step up in the knee and extremities segments in Japan after the successful acquisition of these products completed for EEA last July. ZUK, now rebranded Physica ZUK, will open doors in Japan for our rapid expansion into the knee segment also supporting the expected 2016 launch of Physica, a new total knee replacement. Regarding extremities, we have recognized awareness in total shoulder arthroplasty in Japan and the Discovery™ Elbow System will allow us to expand our position in this market," said Luigi Ferrari, CEO of Lima Corporate. "Lima Corporate has had direct presence in the Japanese market since the opening of our office in 2004. Combining our strong market presence and these products characterized by great implant designs and successful long-term clinical heritage will certainly advance our market position," Mr. Ferrari added.
As Lima Corporate celebrates its 70th year anniversary, this is yet another step in developing strong footholds in key markets such as that of Knee and Extremities not only in Europe but around the world.
About Lima Corporate
Lima Corporate is a global medical device company providing reconstructive orthopaedic solutions to surgeons who face the challenges of improving the quality of life of their patients. Based in Italy, Lima Corporate is committed to the development of innovative products and procedures to enable surgeons to select the ideal solution for every individual patient. Lima Corporate's product range includes large joint revision and primary implants and complete extremities solutions including fixation.
For additional information on the Company, please visit http://www.limacorporate.com.
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SOURCE Lima Corporate