Auckland, April 12, 2018: New Zealand biomedical company Aroa Biosurgery has bought back the global marketing and distribution business for its Endoform wound care solutions after US healthcare company Hollister Incorporated decided to divest portions of its wound care business.
Endoform is a proprietary extracellular matrix (ECM) biomaterial, which contains a collagen scaffold and important secondary molecules to support healing.
Aroa sold the wound care rights to Hollister in a series of transactions in 2011 and 2014. Endoform Dermal Template was launched in the United States in 2013 for the treatment of acute and chronic wounds after obtaining US Food & Drug Administration (FDA) clearance.
Since then Hollister has established Endoform as a leading product for treating diabetic and venous ulcers and it has been used in more than 2.5 million treatments.
Dr Brian Ward, chief executive of Aroa Biosurgery, says the terms of the acquisition from Hollister are confidential and the immediate capital requirements will be predominantly raised from existing investors.
“Regaining the business opportunity for Endoform means we are now able to proceed with our growth strategy, which includes building a direct sales presence in the United States and expanding distribution into major global markets,” he says.
“We see the growth in our wound care business complementing the continuing growth from our partnership with TELA Bio.”
Aroa’s first commercial surgical product, a reinforced bioscaffold developed in collaboration with Tela Bio, was cleared by the FDA in December 2014 for use in ventral hernia repair and abdominal wall reconstruction.
For information contact:
Aroa Biosurgery Ltd
Ph: +64 21 727646
About Aroa Biosurgery:
Aroa is a private, venture funded soft-tissue repair company that develops and manufactures medical products to improve healing. Its products are developed from their Endoform™ platform, a novel extracellular matrix biomaterial. The company strives to improve patient outcomes and provide better healing, every day, everywhere for everybody. www.aroabio.com
About Hollister Incorporated:
Hollister is an independent, employee-owned company that develops, manufactures, and markets healthcare products worldwide. The company develops and manufactures products for ostomy care and continence care and develops educational support materials for patients and healthcare professionals. Headquartered in Libertyville, Illinois, Hollister has manufacturing and distribution centers on three continents and sells in more than 80 countries around the world. www.Hollister.com.