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News Articles US IMPLANT SOLUTIONS, LLC AND I.T.S. GmbH ANNOUNCE PARTNERSHIP OVIEDO, FL - MAY 1, 2009 - I.T.S. GmbH ("ITS") and US Implant Solutions, LLC ("USIS") are pleased to announce the formation of a new partnership for the distribution of the I.T.S Trauma product line in North America. In a transaction completed on April 30th, 2009, ITS has acquired a majority interest in USIS through an investment of cash and inventory. The ITS investment will significantly strengthen the financial condition and inventory position of USIS, enabling the company to provide much improved support to its sales representatives and customers. The goal of this transaction is to not only enhance and support the sales potential of current representatives, but to also allow USIS to effectively expand into new territories. USIS has been the exclusive distributor for ITS in North America since 2004. ITS is an international orthopedic implant technology company based in Graz, Austria. A new Board of Managers was designated concurrent with the investment, with Paul Nichols appointed as Chairman and Interim CEO. Mr. Nichols is a 25 year veteran of the orthopedics industry serving as an executive, management consultant and entrepreneur responsible for the founding of four successful orthopedic implant companies including Avanta Orthopedics and Nexa Orthopedics. Robert Bell, MD will continue to serve on the USIS board. Dustin Dittmer rejoins the company effective May 1st and will serve as a Managing Director as well. If you have any questions regarding this new partnership, please contact the USIS office at 407-971-8054 or info@its-implantusa.com. |
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