Healthcare Industry News: Invatec
News Release - March 21, 2006
CONMED's Linvatec Subsidiary Introduces New Powered Surgical Instrument Systems and Sports Medicine Products at the American Academy of Orthopaedic Surgeons Annual MeetingUTICA, N.Y., March 21 (HSMN NewsFeed) -- CONMED Corporation (Nasdaq: CNMD ) announced today that its Orthopaedic business, CONMED LInvatec, a leader in sports medicine technology, will be launching new platforms for its powered surgical instrument products and new sports medicine products at the annual conference of the American Academy of Orthopaedic Surgeons (AAOS) at McCormick Place in Chicago on March 22-24, 2006.
Mr. Joseph J. Corasanti, President and Chief Operating Officer of CONMED Corporation noted, "Our new powered surgical instruments are a much anticipated addition to our legendary Hall(TM) powered instrument brand name. These advancements offer our customers the latest in powered surgical instrument technology and ergonomics. As we continue to expand our product portfolio, we remain focused on developing first-rate surgical instruments and devices that further enhance functionality."
Following is a summary of the new products:
Powered Surgical Instruments * The MPower(TM) System is a battery-powered surgical instrument system that merges the power of a large bone handpiece with the size and design of a small bone handpiece to create the most versatile powered surgical handpiece on the market today. MPower generates robust torque to be used in the most demanding large bone surgery such as a total hip arthroplasty. But these handpieces are also capable of high speed, producing up to 1,500 rpm, suitable for delicate procedures such as hand and foot surgery. MPower has a revolutionary new look and design with full functionality and power.
* CONMED LInvatec's new Sterile Transfer Battery System incorporates a 12V sterile battery capability, and provides a smaller, lighter system solution without sacrificing power, reliability, or run-time.
* MicroPower(TM) is an electric powered instrument system for small bone procedures combining the latest in pencil grip technology with a comprehensive multi-specialty power offering. The system includes sagittal, reciprocating, and oscillating saw handpieces, along with medium and high speed drills. The system also provides complete attachment standardization for previous and new generations of pencil grip handpieces, to include both the electric and pneumatic platforms. (This product is pending FDA 510(k) clearance, and is not available for sale in the United States.)
Sports Medicine -- Arthroscopy
* The Dry-Doc® Cannula System improves arthroscopic surgical access by incorporating a uniquely patented design of a semi-flexible inner tube covered with an accordion-like outer sleeve. This results in insertion ease like that of a smooth cannula. After insertion, the outer sleeve of the Dry-Doc acts as threads, gently filling the portal channel preventing inadvertent back out. These colored, semi-translucent cannulas, also permit visual monitoring of the tools and knots, while providing optimal fluid control with an innovative click-lock ratchet stopcock.
* The Spectrum® II - Tissue Repair System is a patented suture passing device allowing precise suture placement in any arthroscopic shoulder procedure. The newly designed 60 and 90-degree suture hooks provide access to the shoulder joint that was once thought to be unreachable. The ergonomic handle and easy-to-use locking mechanism make it the simplest system to use as well as the most adaptable.
* Adding to our extensive line of arthroscopy implants, the Bio Mini- Revo(TM) Shoulder Anchor incorporates a proprietary Self-Reinforced polymer technology into this repair implant. This unique system includes a purple colored 3.1mm screw-in implant manufactured from SR - 96L/4D PLA and is pre-loaded with Hi-Fi(TM) high strength suture. The combination of high pullout strength and ideal bioabsorbable characteristics in a small pre-loaded implant makes Bio Mini-Revo suitable for all shoulder instability procedures.
At the AAOS 2006 Annual Meeting, CONMED LInvatec will be showcasing its orthopedic products, including arthroscopic products for sports medicine, powered surgical instruments and video equipment for a broad range of procedures. CONMED LInvatec will be located at Booth #628.
CONMED is a medical technology company with an emphasis on surgical devices and equipment for minimally invasive procedures and monitoring. The Company's products serve the clinical areas of arthroscopy, powered surgical instruments, electrosurgery, cardiac monitoring disposables, endosurgery and endoscopic technologies. They are used by surgeons and physicians in a variety of specialties including orthopedics, general surgery, gynecology, neurosurgery, and gastroenterology. Headquartered in Utica, New York, the Company's 3,100 employees distribute its products worldwide from eleven manufacturing locations.
Forward Looking Information
This press release contains forward-looking statements based on certain assumptions and contingencies that involve risks and uncertainties. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and relate to the Company's performance on a going-forward basis. The forward-looking statements in this press release involve risks and uncertainties which could cause actual results, performance or trends, to differ materially from those expressed in the forward-looking statements herein or in previous disclosures. The Company believes that all forward-looking statements made by it have a reasonable basis, but there can be no assurance that management's expectations, beliefs or projections as expressed in the forward-looking statements will actually occur or prove to be correct. In addition to general industry and economic conditions, factors that could cause actual results to differ materially from those discussed in the forward-looking statements in this press release include, but are not limited to: (i) the failure of any one or more of the assumptions stated above, to prove to be correct; (ii) the risks relating to forward-looking statements discussed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2005; (iii) cyclical purchasing patterns from customers, end-users and dealers; (iv) timely release of new products, and acceptance of such new products by the market; (v) the introduction of new products by competitors and other competitive responses; (vi) the possibility that any new acquisition or other transaction may require the Company to reconsider its financial assumptions and goals/targets; and/or (vii) the Company's ability to devise and execute strategies to respond to market conditions.
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