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HEALTHCARE | Medical Devices & Equipment / Surgical Devices
medicrea.com

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Stage

Acquired | Acquired

Valuation

$0000 

About Medicrea

Medicrea provides personalized spinal implants. It utilizes a proprietary big data software to 3D-print titanium implants, specific to the patient's body.On July 15, 2020, Medicrea was acquired by Medtronic at a valuation of $154 million.

Medicrea Headquarter Location

50 Greene St Fl Fifth

New York, New York,

United States

646 490 2360

Latest Medicrea News

Medtronic loses bid to enforce noncompete against Alphatec exec

Sep 15, 2021

Alan Condon - Listen A federal court in New York denied Medtronic a preliminary injunction in its noncompete lawsuit against Joseph Walland, former CEO of Medicrea, a New York City-based spine company that Medtronic acquired in November 2020. Mr. Walland was hired as Medicrea's vice president of sales in 2017, during which time he resided in California, according to court documents. In July 2018, he was promoted to CEO, a role he held until his voluntary departure in December 2020. He alleges that he entered into an employment agreement —  which also contained a noncompete clause — when he became CEO while he was living in California, not New York. A couple of weeks after leaving Medicrea, Mr. Walland joined Alphatec Spine as vice president of sales. While acknowledging that the two companies provide spine surgery products and services, Mr. Walland said that those products and services have different uses, target different pathologies and have different users. While Alphatec was negotiating its acquisition of EOS imaging, two emails were sent to Mr. Walland's email account at Medicrea on March 30 and March 31, 2021. Medicrea officials alleged that one of the emails contained information that appeared to have been "derived from confidential Medicrea information of which [Mr. Walland] had knowledge," but the plaintiffs did not elaborate on what that information was, according to court documents. Under California law, "every contract by which anyone is restrained from engaging in a lawful profession, trade or business of any kind is to that extent void," Judge Edgardo Ramos of the U.S. District Court of Southern New York wrote. The judge found that an injunction would "impose a hardship" on Mr. Walland, as it would bar him from his current employment, and he would likely be unable to work for another spine technology company in the country. "Further, if enjoined, [Mr. Walland] will be deprived of the benefits of California law — specifically, its prohibition on anticompetitive restraints," the judge said. "By contrast, absent an injunction, plaintiffs may lose some business and customers, but as noted, there has been no evidence yet of such a loss." The court denied the injunction on the grounds that the noncompete agreement was unenforceable under California law and would hinder Mr. Walland’s job mobility.

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Expert Collections containing Medicrea

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Medicrea is included in 2 Expert Collections, including Medical Devices.

M

Medical Devices

10,410 items

Companies developing medical devices (per the IMDRF's definition of "medical device"). Includes software, lab-developed tests (LDTs), and combination products. Excludes CDMOs/CMOs. *Columns updated as regularly as possible.

L

Life Science & Medical 3D Printing

410 items

Medicrea Patents

Medicrea has filed 67 patents.

The 3 most popular patent topics include:

  • Orthopedic surgical procedures
  • Bones of the vertebral column
  • Skeletal system
patents chart

Application Date

Grant Date

Title

Related Topics

Status

4/19/2019

4/13/2021

Bones of the vertebral column, Spinal nerves, Bones of the thorax, Orthopedic surgical procedures, Skeletal system

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4/19/2019

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4/13/2021

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Related Topics

Bones of the vertebral column, Spinal nerves, Bones of the thorax, Orthopedic surgical procedures, Skeletal system

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Status

Grant

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