Mitsui Chemicals Invests in Shoulder Innovations, a Shoulder Replacement Implant System Company
Mitsui Chemicals, Inc.
Mitsui Chemicals, Inc. (Tokyo: 4183; President & CEO: HASHIMOTO Osamu) is pleased to announce that it has invested in shoulder replacement implant system company Shoulder Innovations Inc., headquartered in Michigan, U.S. (CEO: Robert Ball), via 321FORCE Global Innovation Fund L.P. (321FORCE™; managed by Global Brain Corporation).
Shoulder Innovations is a medical device development company that designs and commercializes innovative products which demonstrate the potential for improved patient care and reduced overall cost to the healthcare system. Leveraging its breakthrough, patented, InSet™ Glenoid design, Shoulder Innovations is commercializing a shoulder replacement implant system focused on improving outcomes related to the greatest cause of shoulder replacement failure: glenoid loosening.
|Company name||Shoulder Innovations Inc.|
|Head office||Michigan, U.S.|
|Business||Development and sale of shoulder implant devices and software|
Mitsui Chemicals has positioned the orthopedic surgery sector as a future growth field within its Life & Healthcare Solutions business strategy, which was outlined in the company’s VISION 2030 Long-Term Business Plan. And with shoulder implant regarded as a particular growth field within the orthopedic surgery sector, Mitsui Chemicals has decided to explore business opportunities in this realm by investing in Shoulder Innovations via 321FORCE™.
321FORCE™ will continue to engage in co-creation activities with the Mitsui Chemicals Group and startups. This should then make it possible to promptly pick up on social issues and needs, produce solutions in response and thereby contribute to sustainable growth.
|Name||321FORCE Global Innovation Fund L.P. (321FORCE™)|
|General partner||Global Brain Corporation|
|Limited partner||Mitsui Chemicals, Inc.|
|Funds under management||5 billion yen|
|Operating period||10 years|
|Targets for investment||All industrial sectors, including life and healthcare, mobility, ICT, carbon neutrality, digital transformation and new materials|