Healthcare Industry News: ArthroCare
News Release - June 18, 2008
ArthroCare Sets New Standard in Modern Arthroscopy - Launches New Quantum(TM) Pump Arthroscopy System In EuropeAUSTIN, Texas--(HSMN NewsFeed)--ArthroCare® Corp. (NASDAQ: ARTC ) announced today the European launch of its new Quantum™ Pump, the first intelligent arthroscopy system that provides all the features necessary to perform the demanding technical aspects of modern arthroscopic surgery while at the same time improving efficiency of the surgical procedure for the surgeon and reducing patient time in the Operating Room.
“We’re very excited about the European launch of the Quantum Pump,” said Jack Giroux, president of ArthroCare Sports Medicine. “We’re proud of the fact that it is genuinely the first system of its kind – designed to both improve operating room efficiency and patient outcomes by intelligently integrating all the main functions in the arthroscopic procedure into one system.”
The device provides surgeons with independent control of flow and pressure, and a built-in outflow tracking system to ensure constant volume of fluid to the operative site. Other elements of the Quantum Pump’s design include joint selection settings which can be pre-selected for pressure, flow, Smart Vision™ and Outflow Tracking preferences. The Smart Vision preference can regulate flow and/or pressure when blood and debris are detected. The display screen offers multi-lingual instruction ideal for the European market.
The Quantum Pump has received CE Mark designation after meeting all necessary health, safety and performance protection requirements for the European Community, clearing the way for ArthroCare Sports Medicine to market the system throughout Europe.
Giroux added that the Quantum Pump is ready for shipping and ArthroCare Sports Medicine expects to begin fulfilling European surgeons’ requests for the device within the next month.
ArthroCare intends to seek a premarket notification (510(k) clearance) for the pump later this year to facilitate a launch in the US.
Founded in 1993, ArthroCare Corporation (www.ArthroCare.com) is a highly innovative, multi-business medical device company that develops, manufactures and markets minimally invasive surgical products. With these products, ArthroCare targets a multi-billion dollar market opportunity across several medical specialties, significantly improving existing surgical procedures and enabling new, minimally invasive procedures. Many of ArthroCare's products are based on its patented Coblation® technology, which uses low-temperature radiofrequency energy to gently and precisely dissolve rather than burn soft tissue – minimizing damage to healthy tissue. Used in more than four million surgeries worldwide, Coblation-based devices have been developed and marketed for sports medicine; spine/neurologic; ear, nose and throat (ENT); cosmetic; urologic and gynecologic procedures. ArthroCare also has added a number of novel technologies to its portfolio, including Opus Medical sports medicine, Parallax spine and Applied Therapeutics ENT products, to complement Coblation within key indications.
SAFE HARBOR STATEMENTS
Except for historical information, this press release includes forward-looking statements. These statements include, but are not limited to, the Company's stated business outlook for fiscal 2008, continued strength of the Company's fundamental position, the strength of the Company's technology, the Company's belief that strategic moves will enhance achievement of the Company's long term potential, the potential and expected rate of growth of new businesses, continued success of product diversification efforts, and other statements that involve risks and uncertainties. These risks and uncertainties include, but are not limited to the uncertainty of success of the Company's non-arthroscopic products, competitive risk, uncertainty of the success of strategic business alliances, uncertainty over reimbursement, need for governmental clearances or approvals before selling products, the uncertainty of protecting the Company's patent position, and any changes in financial results from completion of year-end audit activities. These and other risks and uncertainties are detailed from time to time in the Company's Securities and Exchange Commission filings, including ArthroCare's Form 10-K for the year ended December 31, 2007. Forward-looking statements are indicated by words or phrases such as "anticipates," "estimates," "projects," "believes," "intends," "expects," and similar words and phrases. Actual results may differ materially from management expectations.
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