Medical technology acquisition set to benefit healthcare field
This blog has previously discussed how technology acquisitions have the power to benefit companies across various industries. As more businesses work toward implementing the latest computer systems and other digital innovations, it is important for organizations to not overlook a single opportunity.
The healthcare field is no different, and RTI Biologics Inc. is ensuring that it is keeping ahead of the competition. According to a company press release, RTI—a provider of orthopedic and biologic implants—is set to acquire Pioneer Surgical Technology. The latter organization manufactures and distributes metal and synthetic products in the orthopedics, biologics, spine, trauma and cardiothoracic markets.
Pioneer president and CEO Daniel Webber said in the press release that the combination of both companies' services is a recipe for strong future growth.
"The combined company will have a broad portfolio of complementary surgical implants benefiting patients, surgeons and hospitals, as well as advancing the positive momentum we have built at Pioneer," he said. "Additionally, RTI's culture of innovation is a great fit with that of our own employees."
Brian Hutchison, RTI president and CEO added that the acquisition is an exciting opportunity for both companies and their employees. He explained that Pioneer's strong distribution network for implants will be a huge benefit when RTI launches a new product later this year. Furthermore, Hutchison said that the M&A activity is giving each company a chance to do more together than either would have been able to do separately.
This is an ideal example of what is possible from technology mergers and acquisitions. When two organizations can find mutual long-term goals and a similar customer base, there's a strong chance of great success.