Healthcare Industry News: lumbar interbody fusion device
News Release - March 25, 2009
Spinal Elements, Inc. and Paradigm BioDevices, Inc. Form Strategic AllianceCarlsbad, CA, 25 March 2009 – (HSMN NewsFeed) - Spinal Elements(R) has formed a strategic alliance with Paradigm BioDevices to assist in the expansion of the distribution network for Spinal Elements products, including the Magnum+(TM), a new stand-alone anterior lumbar interbody fusion device (ALIF). Paradigm BioDevices was instrumental in the creation of the U.S. market for stand-alone ALIF devices. It is estimated that the opportunity for stand-alone ALIF devices exceeds 100 million dollars annually and is one of the fastest growing segments in the spinal industry.
Paradigm BioDevices has supported over 5000 stand-alone ALIF surgeries in the U.S. since 2005 and built a U.S. distribution network comprised of 68 spine-focused agents with over 250 sales associates.
The Magnum+ system from Spinal Elements is an advanced stand-alone lumbar implant that incorporates locking screws and a unique one-step insertion and distraction “controlled delivery” technology to easily facilitate implant placement into the disc space. The product will be sold exclusively through Spinal Elements’ direct distribution network.
“Paradigm BioDevices was a prominent leader in the development of the stand-alone ALIF market in the U.S. Their network of distributors is truly world class. We expect continued rapid sales growth at Spinal Elements with all of our innovative products utilizing the capabilities of Paradigm BioDevices.” reports Todd Andres, President and CEO of Spinal Elements.
“Spinal Elements is a perfect fit for us,” said Mike O'Neill, President and CEO of Paradigm BioDevices. “The Magnum+ incorporates numerous innovative design features, and is a fantastic turn-key opportunity. Surgeons will definitely appreciate the superior capabilities now available to their patients with this second generation technology.”
Additional information is available by calling Spinal Elements or on the company website at www.spinalelements.com
Spinal Elements Inc., headquartered in Carlsbad, CA, is an innovative spine products company focused on the development of progressive spinal treatment options for today and tomorrow. The company markets a complete portfolio of unique spinal implant technologies throughout the U.S. The worldwide spinal instrumentation market is currently valued at over $6 billion and growing at a rate in excess of 13% annually.
Source: Spinal Elements
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