Alkem Laboratories announced on Thursday that its subsidiary Alkem MedTech and the American medical equipment manufacturer Exactech Inc. have formed a strategic relationship. This partnership represents a major advancement for the Indian medical device industry, particularly for large joint implants—which are essential for orthopaedic procedures.
Alkem MedTech will be granted the authority to produce and distribute Exactech’s big joint implants in India under the terms of this agreement. A portfolio of cutting-edge implant brands, including Novation, AcuMatch, Alteon, Optetrak, Logic Fit, and Novation CFS, is part of this. These implants, which are renowned for their high quality and inventive design, are necessary for hip and knee replacement procedures.
The CEO of Alkem MedTech, Kaustav Banerjee, emphasized that this collaboration marks a significant development in the region’s capacity to produce medical equipment. Alkem MedTech plans to expand its product offerings in the Indian market by utilizing Exactech’s reputable technology and knowledge. This action is anticipated to raise the supply of superior orthopedic implants in India, which could improve patient outcomes and promote accessibility to cutting-edge medical care.
Exactech’s Chief Marketing Officer and Senior Vice President of the Large Joints Business Unit, Adam Hayden, stressed that the company is excited about the possibility this partnership offers to grow its presence in India. Through the collaboration, Exactech will be able to reach a new patient base with its state-of-the-art hip and knee implant technologies. With the partnership with Alkem MedTech, Exactech will be able to strategically enter the Indian market, where there is a growing need for advanced medical solutions as a result of population growth and increased awareness of orthopedic health.
This agreement is in line with larger patterns in the global healthcare sector, where businesses are more and more trying to establish local manufacturing and partnerships in order to increase their market share. This collaboration helps Alkem MedTech expand its product line and establishes the company as a major force in India’s rapidly growing medical device industry.
All things considered, Alkem MedTech and Exactech’s partnership is expected to have a big influence on the orthopedic implant market in India by giving patients access to cutting-edge implant technologies and fostering the development of regional manufacturing capacity. This collaboration demonstrates a dedication to raising the bar for healthcare and accommodating patients’ changing demands in the area.
SOURCE :
THE ECONOMIC TIMES
