Healthcare Industry News: Wright Medical Group
News Release - March 26, 2007
Wright Medical Group, Inc. Launches the CAROLINA(TM) Jones Fracture System for Foot and Ankle Surgery
ARLINGTON, Tenn.--(HSMN NewsFeed)--Wright Medical Group, Inc. (NASDAQ: WMGI ), a global orthopaedic medical device company, today announced the commercial launch of its CAROLINA(TM) Jones Fracture System for foot and ankle surgery. The CAROLINA(TM) System is the latest addition to Wright's market-leading line of reconstructive products for foot and ankle procedures.The CAROLINA(TM) System is the first major product designed specifically for treatment of Jones fractures of the fifth metatarsal of the foot. Jones fractures can be a disabling injury, and are common in young, athletic patients and geriatric patients. Conservative treatment of Jones fractures typically requires patients to wear a cast for three months or more, with limited or no weight bearing. Long-term outcomes of non-operative treatment have been poor, with reported non-union rates as high as 50%.
The CAROLINA(TM) System was designed in collaboration with surgeons at Duke University and OrthoCarolina in Charlotte, North Carolina. James Nunley, M.D., Chairman of the Department of Orthopedics at Duke University and a design surgeon, commented, "The CAROLINA(TM) System is designed according to our latest research on treatment of this challenging fracture. Our ability to implant an anatomic, high-strength screw through a streamlined surgical process should enable more patients to be treated surgically at the time of injury, greatly reducing the recovery period."
Robert Anderson, M.D., a design surgeon at OrthoCarolina, added, "The CAROLINA(TM) System addresses one of our most difficult problems in the athletic patient. Several key orthopaedic programs, including my own, have successfully used this system to treat professional athletes at the highest levels of competition."
Aaron C. Smith, Senior Director of Extremities Marketing at Wright, commented, "Surgical fixation of Jones fractures is now commonly employed at the time of injury. However, traditional orthopaedic screws are not always appropriately sized for the fifth metatarsal, may be difficult to insert, and sometimes break. Wright is pleased to introduce the CAROLINA(TM) System to address these shortcomings in the orthopaedic arsenal, and add to our market-leading offering of reconstructive foot and ankle products."
The Company estimates there are approximately 80,000 Jones fractures in the U.S. annually. The CAROLINA(TM) System is designed to address a majority of these fractures.
About Wright
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.
Safe-Harbor Statement
This press release contains "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, 2006 under the heading, "Risk Factors" and 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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