Healthcare Industry News: Fixation System
News Release - May 9, 2006
Wright Medical Group, Inc. Announces Japanese Regulatory Approval for MICRONAIL(TM)
Intramedullary Distal Radius ImplantMICRONAIL(TM) Fixation System Now Available to Meet Japanese Surgeon Demand for Minimally Invasive Treatment of Wrist Fractures
ARLINGTON, Tenn.--(HSMN NewsFeed)--May 9, 2006--Wright Medical Group, Inc. (NASDAQ: WMGI ), a global orthopaedic medical device company, today announced approval of its MICRONAIL(TM) intramedullary distal radius implant by Japan's Ministry of Health. Introduced in the United States in 2005, the minimally-invasive MICRONAIL(TM) Fixation System provides immediate stabilization for wrist fractures utilizing fixed-angle locking screws.
Wright's MICRONAIL(TM) Fixation System is unique to the global wrist fracture market because it can be implanted through a small incision on the radial side of the wrist and remains completely inside the intramedullary canal of the radius while the fracture heals. For many patients, the MICRONAIL(TM) device design and surgical approach allow movement of the wrist almost immediately following the procedure. These features represent significant improvements over conventional distal radius plates, which are inserted through much larger incisions and affixed to the outer surface of the bone. Conventional plates create the potential for irritation to the surrounding tendons and soft tissue, which may produce swelling and slow down recovery of motion because of the surgical trauma required to implant them.
Approximately 100,000 distal radius fractures are reported annually throughout Japan. The majority of these injuries are treated with a cast, while about 25% are treated surgically using a distal plate. Initially, the MICRONAIL(TM) device procedure will likely be indicated for cases currently suitable for surgical treatment. Ultimately, the MICRONAIL(TM) Fixation System could also offer improved outcomes for the many fractures currently being treated with a cast because the MICRONAIL(TM) device procedure may allow for earlier movement, reduced stiffness and less atrophy than what can result from a standard period of cast immobilization (6-8 weeks).
Commenting on the significance of this regulatory clearance for the MICRONAIL(TM) Fixation System, Karen L. Harris, Wright's Vice President of International Sales and Distribution, said, "The Japanese market is one of our strongest and most important. We are committed to continuing our record of innovation and of bringing advanced technologies to the country's surgeons and patients. The MICRONAIL(TM) Fixation System is clearly one such leading edge technology which, we believe over time, will become the new standard of care for wrist fracture fixation in Japan."
Wright Medical Group, Inc. is a global orthopaedic medical device company specializing in the design, manufacture and marketing of reconstructive joint devices and biologics. The Company has been in business for more than 50 years and markets its products in over 60 countries worldwide. For more information about Wright Medical, visit our website at www.wmt.com.
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements made in this press release, other than statements of historical fact, are forward-looking statements. Forward-looking statements reflect management's current knowledge, assumptions, beliefs, estimates, and expectations and express management's current views of future performance, results, and trends. The Company wishes to caution readers that actual results might differ materially from those described in the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, including the factors discussed in the Company's filings with the Securities and Exchange Commission (including the Company's annual report on Form 10-K for the year ended December 31, 2005 under the heading, "Factors Affecting Future Operating Results," and in its quarterly reports), which could cause the Company's actual results to materially differ from those described in the forward-looking statements. Although the Company believes that the forward-looking statements are accurate, there can be no assurance that any forward-looking statement will prove to be accurate. A forward-looking statement should not be regarded as a representation by the Company that the results described therein will be achieved. The Company wishes to caution readers not to place undue reliance on any forward-looking statement. The forward-looking statements are made as of the date of this press release. The Company assumes no obligation to update any forward-looking statement after this date.
Source: Wright Medical Group
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