Healthcare Industry News: joint replacement
News Release - February 23, 2009
Exactech Extends Knee Development License with Hospital for Special SurgeryTechnology Agreement Supports Continued Evolution of Optetrak Knee System
GAINESVILLE, Fla.--(HSMN NewsFeed)--Exactech, Inc. (Nasdaq:EXAC ), a developer and producer of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, announced today that it has extended its relationship with Hospital for Special Surgery, New York, NY, to further advance implant designs for total knee replacement surgery. Exactech plans to introduce a new knee implant as an evolution of its flagship Optetrak® brand, as a result of this continued collaboration. Limited release of the new knee is expected in the second half of 2009.
Exactech and Hospital for Special Surgery began collaborating on knee implant development in 1992, which culminated in Exactech’s licensure of Hospital for Special Surgery technologies. The resulting Optetrak comprehensive knee system has been marketed by Exactech since 1995 and represents approximately 45 percent of the company’s sales. For a multitude of patients in more than 30 countries around the world, Optetrak has demonstrated excellent long-term clinical results*.
Through continued engineering and design development, Exactech and Hospital for Special Surgery defined further design opportunities for knee replacement technology and recently consummated an exclusive agreement to extend Exactech’s license to manufacture and market this evolution of the Optetrak knee, which will be known as Optetrak® Logic™.
“For a decade and a half, Hospital for Special Surgery has enjoyed a fruitful collaboration with Exactech. More than 200,000 total knee replacement patients worldwide have benefitted from this relationship,” said Dr. Thomas P. Sculco, surgeon-in-chief and Korein-Wilson professor of orthopedic surgery at Hospital for Special Surgery. “This latest development represents an important advancement in total knee arthroplasty resulting from our partnership.”
About Hospital for Special Surgery:
Founded in 1863, Hospital for Special Surgery (HSS) is a world leader in orthopedics, rheumatology and rehabilitation. HSS is nationally ranked No. 1 in orthopedics and No. 4 in rheumatology by U.S. News & World Report (2008), and has received Magnet Recognition for Excellence in Nursing Service from the American Nurses Credentialing Center. In 2008 and 2007, HSS was a recipient of the HealthGrades joint replacement Excellence Award. All Hospital for Special Surgery medical staff are on the faculty of Weill Cornell Medical College. The hospital's research division is internationally recognized as a leader in the investigation of musculoskeletal and autoimmune diseases. Hospital for Special Surgery is located in New York City and online at www.hss.edu.
Based in Gainesville, Fla., Exactech develops and markets orthopaedic implant devices, related surgical instruments and biologic materials and services to hospitals and physicians. The company manufactures many of its orthopaedic devices at its Gainesville facility. Exactech’s orthopaedic products are used in the restoration of bones and joints that have deteriorated as a result of injury or diseases such as arthritis. Exactech markets its products in the United States and Australia, in addition to more than 30 markets in Europe, Asia and Latin America. Additional information about Exactech, Inc. can be found at http://www.exac.com. Copies of Exactech’s press releases, SEC filings, current price quotes and other valuable information for investors may be found at http://www.exac.com http://www.hawkassociates.com.
An investment profile on Exactech may be found at http://www.hawkassociates.com/profile/exac.cfm.
Investors may contact Chief Financial Officer Jody Phillips at 352-377-1140 or Julie Marshall or Frank Hawkins, Hawk Associates Inc., at 305-451-1888, e-mail: email@example.com. To receive future releases in e-mail alerts, sign up at http://www.hawkassociates.com/about/alert.
*Robinson RF. Five-year follow-up of primary Optetrak posterior stabilized total knee arthroplasties in osteoarthritis. J Arthroplasty. 2005 Oct;20(7):927-31
This release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which represent the company’s expectations or beliefs concerning future events of the company’s financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. These factors include the effect of competitive pricing, the company’s dependence on the ability of third party manufacturers to produce components on a basis which is cost-effective to the company, market acceptance of the company’s products and the effects of government regulation. Results actually achieved may differ materially from expected results included in these statements.
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.