Simbionix Acquires eTrinsic, Inc.
CLEVELAND, Ohio and Louisville, CO (January 12, 2006) – Simbionix USA Corporation, a leading developer of advanced medical simulation products, today acquired all assets and employees of eTrinsic, Inc, a developer of interactive medical education and assessment tools. The terms of the acquisition were not disclosed.
The companies have been working closely as partners for a year developing technologies and products for the medical device and physician education market. The acquisition will speed development of a wide-ranging technology-based training, education and assessment solution. Surgeons and interventionalists are increasingly relying on simulation-based training to learn how to use new products and procedures, to practice for challenging procedures, and to maintain advanced skills. The acquisition gives Simbionix greater access to educational content to be delivered over its expanding installed base of medical simulators.
We’re very pleased to join with what we consider to be the clear market leader in terms of advanced technology, innovation and breadth of capability, said Jacques Devaud, CEO and President of eTrinsic, Inc. Devaud will continue as President of eTrinsic and will also have the title of VP of Curriculum Development at Simbionix. eTrinsic will become a division of Simbionix.
“Simbionix has been continuously innovating and improving its products and services to meet changing market requirements. After working closely with eTrinsic for about a year, it became clear that by merging our capabilities, technologies and client relationships, we could more quickly develop and deliver a market-changing solution,” said Ran Bronstein, President of Simbionix. “While both companies have been leaders in the medical education and training market for eight years, the market is still in its infancy in terms of both capabilities and revenue growth. We intend to increase our pace of innovation to develop an advanced and comprehensive solution for physician and sales force education and training.”