Healthcare Industry News: SPINE FIX
News Release - May 15, 2007
Smith & Nephew and Teknimed SA Enter Into Global Distribution Agreement to Treat Compression Fractures in SpineU.S. Launch Planned for Third Quarter
MEMPHIS, Tenn., May 15 (HSMN NewsFeed) -- Smith & Nephew Orthopaedic Trauma & Clinical Therapies (NYSE: SNN ; LSE: SN ) today announced that it has entered into an agreement with Teknimed SA to distribute, market and sell Teknimed's SPINE FIX product in North America, Europe and Australia.
SPINE FIX is a low-risk procedure that offers patients a significant reduction in pain and an improvement in mobility. The procedure can take less than one hour, and pain relief can be felt as quickly as 25 minutes following the procedure.
"More than 700,000 spinal compression fractures occur each year, as a result of traumatic accidents or osteoporosis, and can result in back pain, pressure on the spinal cord, limited mobility and loss of height," said Mark Augusti, president, Orthopaedic Trauma & Clinical Therapies. "As a market leader in bone substitutes and surgical cements, Teknimed's SPINE FIX product complements Smith & Nephew's outpatient spine portfolio, and enhances our presence in this market. Smith & Nephew is committed to improving the quality of life for patients, and we believe this agreement will provide relief for those suffering with spinal compression fractures."
SPINE FIX was approved for use in Europe in 2003 and in the United States in 2006. SPINE FIX has already been launched in Europe, and Smith & Nephew will roll out SPINE FIX to the U.S. market in the third quarter of 2007.
"More than 10 million people suffer from osteoporosis, and as the population ages we expect the incidence of spinal compression fractures to increase," said Ken Reali, vice president & general manager, Clinical Therapies. "SPINE FIX complements our existing minimally invasive spine product line and we are excited to offer this product as an option to physicians and patients."
Smith & Nephew is a global medical technology business, specializing in Orthopaedic Reconstruction, Orthopaedic Trauma & Clinical Therapies, Endoscopy and Advanced Wound Management products. Smith & Nephew is a global leader in arthroscopy and advanced wound management and is one of the leading global orthopaedics companies.
Smith & Nephew is dedicated to helping improve people's lives. The Company prides itself on the strength of its relationships with its surgeons and professional healthcare customers, with whom its name is synonymous with high standards of performance, innovation and trust. The company has 8,800 employees and operates in 31 countries around the world generating annual sales of nearly $2.8 billion.
TEKNIMED is the French leader in biomaterial for bone surgery. TEKNIMED conceives and manufactures various products in the field of polymers, biodegradable polymers and calcium phosphates.
This press release contains certain "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995. In particular, statements regarding planned growth in our business and in our trading margins discussed under "Outlook" are forward-looking statements as are discussions of our product pipeline. These statements, as well as the phrases "aim", "plan", "intend", "anticipate", "well-placed", "believe", "estimate", "expect", "target", "consider" and similar expressions, are generally intended to identify forward-looking statements. Such forward- looking statements involve known and unknown risks, uncertainties and other important factors (including, but not limited to, the outcome of litigation and regulatory approvals) that could cause the actual results, performance or achievements of Smith & Nephew, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Please refer to the documents that Smith & Nephew has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Smith & Nephew's most recent annual report on Form 20F, for a discussion of certain of these factors.
All forward-looking statements in this press release are based on information available to Smith & Nephew as of the date hereof. All written or oral forward-looking statements attributable to Smith & Nephew or any person acting on behalf of Smith & Nephew are expressly qualified in their entirety by the foregoing. Smith & Nephew does not undertake any obligation to update or revise any forward-looking statement contained herein to reflect any change in Smith & Nephew's expectation with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Source: Smith & Nephew Orthopaedic Trauma & Clinical Therapies
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