Healthcare Industry News: Wright Medical
News Release - November 7, 2007
Wright Medical Group, Inc. Announces Japanese Regulatory Approval for CONSERVE(R) Plus Hip Resurfacing SystemARLINGTON, Tenn.--(HSMN NewsFeed)--Wright Medical Group, Inc. (NASDAQ: WMGI ), a global orthopaedic medical device company, today announced approval of its CONSERVE® Plus Hip Resurfacing System by Japan’s Ministry of Health, Labor and Welfare. Wright’s CONSERVE® Plus System will expand the treatment options Japanese surgeons may offer their patients by providing a conservative, anatomically-focused surgical alternative to traditional hip replacement.
Hip resurfacing with Wright’s CONSERVE® Plus System may be an ideal option for young, active patients suffering from chronic hip pain. In suitable patients, resurfacing allows the painful area of the hip joint to be surgically treated while retaining as much healthy bone as possible. Wright’s CONSERVE® Plus System also offers a wide range of sizing options and a larger-diameter femoral head which are designed to work together to help patients achieve a greater range of motion and a more natural gait postoperatively.
“It has been our corporate goal to introduce key technologies into the Japanese market. The CONSERVE® Plus System is certainly one of those key technologies because it represents a significant alternative to total hip replacement and, thus, may offer a greater quality of life for some Japanese patients,” explains Karen L. Harris, Wright’s vice president of international sales and distribution. Mike Moritani, general manager of Wright Medical Japan, KK added, “The approval and launch of Wright’s hip resurfacing device complements the innovations we have already introduced in this important market over the last year, which include our PROFEMUR® Modular Hip System and our MICRONAIL® Intramedullary Radial Fixation System.”
Wright’s CONSERVE® Plus System is currently available in Europe, Canada, and Australia, as well as other international markets. The CONSERVE® Plus System is not available in the United States at this time, while the Company’s regulatory submission undergoes the U.S. FDA review process.
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.
Safe Harbor Statement
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, 2006 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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