Smith and Nephew, and international industry leader in marketing and manufacturing of orthopaedic products acquires Tenet Medical Engineering, a company co-founded by Dr. Nigel Shrive and Dr. Cy Frank of the McCaig Institute
Smith and Nephew’s endoscopy division announced the acquisition of Tenet Medical Engineering, a privately held medical company, founded and based here in Calgary.
Tenet markets leading edge technology in the area of patient positioning such as intuitive positioning controls increased versatility, adjusttability, and stability, global compatibility and full integrated systems used in arthroscopic surgery.
Originally founded by Dr. Nigel Shrive a civil engineer with the Schulich School of Engineering at the University of Calgary and Director of the McCaig Institute and Dr. Cy Frank, an orthopaedic surgeon with the Faculty of Medicine and Executive Director of the Alberta Bone and Joint Health Institute, Tenet was formed in 1994 and along with the President, Ken Moore had the motivation to not only aid orthopaedic surgeons in performing surgical procedures, but to also give profits back to the University of Calgary for research funding.
A great return on investment
The founders of TENET Medical Engineering are not only making it easier for orthopedic surgeons to perform procedures, they’re ensuring future Faculty of Medicine researchers have the tools to succeed.
by Laurie Wang (original article)
It’s strong, it’s powerful and it’s used to save limbs. The Spider Limb Positioner is a popular tool commonly used by orthopedic surgeons to provide optimal positioning for limbs during surgical procedures. Powered by the compressed nitrogen or air supply in the operating room, the positioner allows the patient to have a more comfortable experience during surgery.
But it doesn’t stop there. This robot-like tool is part of what University of Calgary Faculty of Medicine orthopedic surgeon Dr. Cy Frank calls the ‘cycle of innovation’. Manufactured by TENET Medical Engineering, the Spider Limb Positioner is among many products that generate annual revenues of $8 million for TENET and part of these profits go back to bone and joint research at the University of Calgary.
“It’s the model for a ‘cycle of innovation’. The university trained people who created a business that’s generating revenue, and in turn this business is paying to train more people and advance research,” says Frank. “Some of those new people then come up with new products and business ideas to add additional revenue with feedback and the cycle can continue.”
“Everyone wins. And ultimately it’s the patients who are benefiting from these products.”
TENET’s President, Ken Moore, was part of a joint injury research group headed by Frank at UCalgary’s McCaig Institute for Bone and Joint Health. He started the company in 1994 with the support and advice of many colleagues at the Faculty of Medicine including Dr. Bob Bray, professor, Department of Surgery; Nigel Shrive, PhD, McCaig Institute for Bone and Joint Health; and Frank.
“At the time, myself, Nigel Shrive and Cy Frank noticed that a lot of research had turned into good products, but the university didn’t really get the credit for it,” Moore explains. “So we thought, let’s see if we can start a company and put the profit back into research.”
Since its first profit in 2001, TENET has grown steadily by 25 to 30% each year. It has made a name for itself internationally, with sales in about 50 countries.
The philanthropic gifts from TENET have contributed to scholarships and bursaries for students and trainees at the Faculty of Medicine. As well, TENET is proud to have many UCalgary graduates on staff.
“Our engineers are UCalgary grads. We’ve also hired interns and summer students from the university,” Moore explains.
“TENET is very unique,” Frank says. “I don’t think there are many companies out there doing what they are doing.”
Frank, Executive Director of the Alberta Bone and Joint Health Institute, was part of the original scientific advisory committee for the orthopedic design and manufacturing company. He supported the initiative but has stayed with the University of Calgary.
“There were several people who helped come up with the idea but stayed with the university. Their concept wasn’t to create a company that would make millions; it was to help research,” Moore explains. “The word ‘tenet’ means fundamental principle. We’ve created a profitable company and we’re putting funds back into research” the cycle of innovation.”
As TENET continues on, Moore sees the company further developing products that are easier for surgeons to use.
“Bone and joint research is continually advancing. The key thing is for us to be able to understand injury conditions and create devices that help surgeons in the operating room,” Moore says. “It is also important to understand the healing process and how surgeons help restore normal function in the joint.”
That’s where UCalgary surgeons and researchers play an integral role.
“Everyone has been very helpful in testing our products and giving us ideas on how to improve them,” Moore says. “Together, we are taking Spiders” and bone and joint health” to the next generation.”