Healthcare Industry News: Orthofix
News Release - December 21, 2006
Regeneration Technologies Announces Manufacturing Agreement with Blackstone Medical for BioCleanse(R)-Sterilized Spinal AllograftsALACHUA, Fla., Dec. 21 (HSMN NewsFeed) - Regeneration Technologies, Inc. (RTI) (Nasdaq: RTIX ), the Florida-based processor of orthopedic, cardiovascular and other biologic implants, announced today that they have signed an agreement to manufacture spinal allograft implants for Blackstone Medical, Inc. (Blackstone), which is a wholly-owned subsidiary of Orthofix International.
Under the agreement, RTI will manufacture cervical spinal grafts from designs developed by Blackstone.
"Regeneration Technologies is excited to partner with Blackstone Medical, a leader in the spinal product industry," said Brian K. Hutchison, RTI's chairman, president and chief executive officer. "This agreement allows both companies to bring the best biologic alternatives to patients while working to maximize each gift of donated tissue."
New implant designs are currently being developed by Blackstone's engineers, with the first launch scheduled for April 2007. Additional implants are planned for release for the second half of 2007.
"We have a solid reputation at Blackstone for using our advanced engineering capabilities in partnership with high-quality manufacturers to develop and distribute safe and effective implants," said Matt Lyons, the CEO of Blackstone, which was recently acquired by Orthofix International. "When evaluating manufacturers for our spinal allograft implants, RTI's unique ability to sterilize allografts through their proprietary BioCleanseŽ process was key in our decision."
About Blackstone Medical, Inc.
Blackstone Medical, Inc., established in 1996, is a leading international spine product company dedicated to advancing techniques and technologies in the treatment of the human spine. Partnering with luminary spine surgeons to identify solutions and using a quality team approach with engineers, Blackstone creates breakthrough spinal implant and instrument products. Blackstone's achievement-driven focus results in rapid design, cooperative manufacturing and exceptional service to surgeons. For more information about Blackstone Medical, Inc., please visit www.blackstonemedical.com
About Orthofix International
Orthofix International N.V., a global diversified orthopedic products company, offers a broad line of minimally invasive surgical, as well as non- surgical, products for the spine, reconstruction, and trauma market sectors that address the lifelong bone-and-joint health needs of patients of all ages, helping them achieve a more active and mobile lifestyle. Orthofix's products are widely distributed around the world to orthopedic surgeons and patients via Orthofix's sales representatives and its subsidiaries, including Breg, Inc. and Blackstone Medical, Inc., and via partnerships with other leading orthopedic product companies, including Kendall Healthcare. In addition, Orthofix is collaborating in R&D partnerships with leading medical institutions such as the Orthopedic Research and Education Foundation, Rutgers University, the Cleveland Clinic Foundation, and National Osteoporosis Institute. For more information about Orthofix, please visit www.Orthofix.com.
About Regeneration Technologies, Inc.
RTI processes allograft and xenograft tissue into shaped implants for use in orthopedic, cardiovascular and other surgeries with a commitment to science, safety and innovation.
RTI also holds the patents on BioCleanse, the only proven tissue sterilization process validated to eliminate viruses, bacteria, fungi and spores from tissue without impacting the structural or biomechanical integrity of the tissue. The company has distributed more than half a million allograft implants sterilized with the BioCleanse process with zero incidence of infection. RTI is accredited by the American Association of Tissue Banks and was named a 2004 Technology Pioneer by the World Economic Forum.
Except for historical information, any statements made in this press release about the company's anticipated financial results, future operational results, regulatory approvals or changes to the company's agreements with its distributors are forward-looking statements subject to risks and uncertainties, such as those described in the company's public filings on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results reflected in these forward-looking statements. Copies of the company's SEC filings may be obtained by contacting the company or the SEC or by visiting RTI's web site at www.rtix.com or the SEC's web site at www.sec.gov.
Source: Regeneration Technologies
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