Tuesday, August 1, 2017

OrthAlign, Inc. Announces Distribution Partnership with Ortosistemas S.A. and First KneeAlign Cases for TKA in Panama

OrthAlign, Inc. Announces Distribution Partnership with Ortosistemas S.A. and First KneeAlign Cases for TKA in Panama

(Panama Business News). OrthAlign, Inc., a privately held U.S.-based medical device and technology company providing orthopedic surgeons with advanced precision technologies, announced today a distribution partnership with Ortosistemas S.A. and the first set of KneeAlign® cases successfully completed for total knee arthroplasty (TKA) in the country of Panama.

These cases were completed by Panama City-based orthopaedic surgeon Edmundo Ford, MD of Centro de Especialidades Ortopedicas at Hospital San Fernando and continue to demonstrate the rapid adoption of OrthAlign’s handheld precision technologies, by surgeons throughout the world (the technology is now utilized in over 45 countries).

“KneeAlign is easy, simple, and reliable,” said Dr. Ford. “I’m happy to know that going forward, my total knees no longer are subject to human error. Our patients will be happy to know that their knees are being treated with a technology that helps to achieve the best alignment possible, in order to maximize implant survival and a superior outcome.”

OrthAlign provides highly accurate, computer-assisted, handheld technologies for surgeons to receive real-time, actionable data for precise alignment and positioning of components in total knee, unicondylar knee, and total hip (both posterior and anterior) arthroplasty surgeries. Over 15 peer-reviewed clinical studies have been published to date, validating OrthAlign’s accuracy, simplicity of use, and benefits in recovery for the patient.
Maria Luisa Muñoz, Chief Executive Officer of Ortosistemas S.A., a market leading orthopaedic distributor in Panama for over 25 years, stated, “Technology is a very important part of Panama’s growing joint arthroplasty market. Surgeons are looking for tools to provide their patients with better outcomes. We are pleased to be OrthAlign’s partner in Panama and look forward to not only providing surgeons with this valuable tool, but also further expanding our market share.”

“Panama is the gateway for our expansion into Latin America,” said James Young Kim, OrthAlign’s Vice President and General Manager of International. “Over the next few years, Latin America is expected to be a major driver in global market growth, however, high costs of surgery are making it difficult for surgeons to even use technologies that will help them be more accurate. OrthAlign’s cost-effective, highly accurate technology is the answer for the Latin American market.”

About OrthAlign, Inc.


OrthAlign is a privately held medical device and technology company, developing advanced technologies that deliver healthier and more pain-free lifestyles to joint replacement patients, globally. We provide healthcare professionals with cutting edge, computer-assisted surgical tools that seamlessly and cost-effectively deliver vital data and clinical results to optimize outcomes for our patients.

Panama Business News - misancosa@gmail.com

Red Frog Beach Island Resort & Spa Debuts Affordable New Condominiums in Panama

Red Frog Beach Island Resort & Spa Debuts Affordable New Condominiums in Panama

(Panama Business News). Red Frog Beach Island Resort & Spa, Panama’s award-winning island resort in Bocas del Toro, Panama, recently announced three new upscale condominium designs to their collection of luxury residences: The Capitana, The Boutique and the Solare. The three additions to the Red Frog Beach community offer sleek and refined layouts that all feature spectacular, unspoiled views of the turquoise blue Caribbean Sea. Home owners will have access to world-class beaches, adventure experiences, water sports, wildlife, and more.

Embracing a smaller architectural design that offers an island lifestyle at a fraction of the cost compared to other Caribbean vacation home options, these new floor plans range in size from 646 square feet to nearly 2,000. These upscale yet affordable condos will feature energy-efficient smart technology, an infinity-edge pool with stunning views and dramatic landscape architecture that blends seamlessly into the natural surroundings. Given the efficient size as well as energy-efficient smart technology, buyers will be able to keep their expenses to a minimum while delivering high rental returns. Red Frog’s property management program allows its homeowners to generate income while not visiting their property.

Whether looking for a place to retire or a second home to work out of remotely, Red Frog Beach’s three new condominium options present an ideal and worry-free investment for those in the market for a luxury home at an affordable price. Panama is considered one of the best places to retire and is one of the top countries to invest in real estate due to its thriving economy and lower property taxes. Buyers can also feel safe when investing in property at Red Frog Beach given it is located in hurricane-free waters outside of the hurricane belt.

In addition to the new condominiums, Red Frog Beach offers a wide range of residential properties and land for sale starting from USD $98,000 to USD $810,000. From small Island Condos spanning 650 square feet to large Villa Estates stretching 3,000 square feet across five bedrooms, Red Frog Beach has options for every buyer looking for an island retreat.


Red Frog Beach Island Resort & Spa, which is currently undergoing a multi-million-dollar enhancement, is situated adjacent to an environmentally protected national marine park and overlooks its namesake beach, Red Frog Beach which is regarded as one of the world’s best beaches. The resort was designed to complement the natural landscape it inhabits and prides itself on being a responsible ecotourism destination and has been the first resort in Panama to meet the 300+ criteria to be certified as a Green Globe Resort. Homeowners and guests of the resort will find an assortment of activities to entertain them throughout their stay. In addition to five miles of stunning beaches, 

Red Frog Beach Resort offers a beachfront restaurant, spa, canopy zip line, water sport activity center, a deep water IGY marina, many island tours and excursions, and eight miles of rainforest trails. From one-bedroom suites to six-bedroom villas and Jungle Lodges, Red Frog Beach Island Resort offers accommodations for groups of all sizes. With a wide range of accommodation options and activities available, the resort is an excellent destination for families, romantic getaways and groups.

Panama Business News - misancosa@gmail.com

Monday, July 31, 2017

Sacyr, Hyundai pull out of Panama Canal bridge tender

Sacyr, Hyundai pull out of Panama Canal bridge tender

(Panama Business News). The shortlist of consortiums bidding to design and build the fourth bridge over the Panama Canal has been reduced from six to four and the date for submissions has been put back from 11 August to 5 September.

The 1,2km cable-stayed main bridge will be 50m-wide and carry six lanes for vehicles and two for the trains of the future Metro Line 3. It will be built north of the Bridge of the Americas, near the Balboa port installations, and will connect Panama City to its western suburbs.

The cost of the works, including about 6km of highway has been estimated at between $800m and $1.2bn.

A consortium led by Brazilian contractor Odebrecht was asked to withdraw at the end of last year. This was one of a number of big infrastructure projects in Latin American that the company lost as part of the fall-out from the immense Lava Jato corruption scandal. The company announced its decision in January.

The second team to drop out was led by Korean contractor Hyundai and Spain’s Sacyr. The Panamanian Ministry of Public works confirmed the decision at the weekend.

A rendering of the fourth bridge, with the Bridge of the Americas in the background (TY Lin)
The Madrid-based contractor told Panama’s La Prensa that it was unable to bid owing to its success in winning other projects in the region. A spokesperson said: “In the past two years we have won two important bridge in Colombia and we are working on motorways in Colombia, Chile and Italy that will also require large bridges. The fourth bridge would need our best team, which unfortunately we cannot now spare from these other projects.”

The four teams still in the race are led by:

* Spanish infrastructure contractor Dragados’ Panamanian subsidiary
* Astaldi of Italy and Daelim of Korea
* China Communication Construction Company and its China Harbour Engineering subsidiary
* China State Construction Engineering Corporation and China Railways Group.

All the Chinese companies are state-owned enterprises.The Panamanian Society of Engineers and Architects has criticized the decision to bundle the design and construction contracts together, arguing that spitting them would have given better value for money. 

The program management contract was awarded to San Francisco-based consultant TY Lin International in April 2016.


Funding is being arranged by Goldman Sachs. It is likely that the work will be financed by debt taken on by the National Highways Company repaid using toll income.

Panama Business News - misancosa@gmail.com