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Promimic and Danco Medical, a Lincotek Group Company, formed a joint venture focused on the processing of HAnano Surface for medical implants in the U.S. market. The new company, Nano Processing (NPI), will ramp up the use of HAnano Surface technology, originally developed by Promimic.
HAnano Surface technology improves osseointegration of orthopedic implants, including those for spinal fusions and total knee replacement. The launch of the joint venture is a response to the rapid change in a fast-growing market segment and the needs in the market for a qualified and well-respected service provider.
Danco Medical has been the preferred processing partner for Promimic’s U.S. customers since 2016. The joint venture has dedicated processing capabilities for medical implants in the Danco Medical facility in Warsaw, Indiana.
The day-to-day operations will be managed and executed by Danco Medical, while leveraging Promimic’s deep knowledge in nanotechnologies and a U.S.-based sales channel for business growth with both existing and new customers.
“The creation of Nano Processing broadens our business model and is a key initiative in our growth strategy,” said Magnus Larsson, CEO, Promimic. “We are pleased to share this important milestone with the Danco Medical team, as a natural progression of a great partnership.”
Larsson said the joint venture was made possible through the Promimic IPO in April, and will have a major impact on the company’s growth potential in the coming years.
Danco has made additional strategic initiatives in recent months. Lincotek Medical acquired a majority stake in the company in February and purchased Danco’s facility in China earlier this month.
