Healthcare Industry News: ArthroCare
News Release - June 19, 2008
ArthroCare Launches DoublePlay(TM) New Osteoconductive Suture AnchorAUSTIN, Texas--(HSMN NewsFeed)--ArthroCare® Corp. (NASDAQ: ARTC ) announced today the launch of its new DoublePlay implant, a novel suture anchor device intended for soft tissue to bone fixation in surgical procedures such as rotator cuff repair. It is unique in terms of design and material.
DoublePlay is manufactured from a proprietary composite material, the first composite to be used in Sports Medicine with clinically proven osteoconductivity and replacement by bone. This unique material is used in ArthroCare’s Bilok® interference screw, and it boasts an unrivalled 10 year pedigree in ACL procedures without any reported cases of osteolysis or tibial cysts.
DoublePlay has received FDA clearance for fixation of suture to bone in the shoulder, foot, ankle, knee, hand, wrist, elbow and pelvis. The device is preloaded with Magnum wire.
“We’re very excited about the launch of our new DoublePlay suture anchor device,” said Jack Giroux, president of ArthroCare Sports Medicine. “DoublePlay makes an invaluable addition to our Sports Medicine line of suture anchors, and we believe its state-of-the-art design and composition will make it the anchor of choice for orthopaedic surgeons worldwide.”
Giroux added that “the new DoublePlay anchor will allow us to take advantage of the trends in the market where we see surgeons moving away from standard absorbable anchors in favour of anchors made of biocomposite materials that are osteoconductive and are replaced by bone over time.”
Giroux went on to say that the DoublePlay will be ready for shipping next week and ArthroCare Sports Medicine expects to begin fulfilling surgeons’ requests for the device within the next month.
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.
Bilok® and DoublePlay™ are manufactured by and Trademarks of Biocomposites Ltd.
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-Q for the quarter ended March 31, 2008 and 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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