Healthcare Industry News: MedShape
News Release - September 23, 2009
MedShape Solutions, Inc. Announces First FDA-cleared Shape Memory PEEK Device; Closing of $10M Equity OfferingATLANTA, Sept. 23 -- (Healthcare Sales & Marketing Network) -- MedShape Solutions, Inc. announced today the first FDA cleared shape memory PEEK (polyaryletheretherketone) device for orthopedics using proprietary shape memory PEEK Altera(TM) material. The Morphix(TM) Suture Anchor was recently granted FDA clearance and will be released to select U.S. markets in the coming months. Over $2.5B of PEEK-based implants are sold every year in the field of orthopedics. These devices range from spinal cages to suture anchors and across all sectors of orthopedics. As a material, PEEK provides excellent benefits such as strength, radiolucency and reliability.
"What is unique about the Morphix(TM) device is the simplicity of its design coupled with outstanding performance when compared to competitive devices," stated orthopedic surgeon Bill Bryan, MD, Houston, TX. "I love the fact that the dynamic nature of the implant allows it to adjust to the surrounding changes in the bone that occur after cyclic loading. The Morphix(TM) is the only implant I am aware of that can do this."
MedShape Solutions also announced that it has recently closed approximately $10M of equity funding from various qualified private investors. "This recent round of financing will allow MedShape to bring forward several unique shape memory orthopedic devices that will improve patient outcomes and improve surgical procedures," stated Kurt Jacobus, PhD, President & CEO. "We continue to make progress in building a company of significant value centered around our shape memory technology platform."
Contact: Chris Fair, Chief Operating Officer, 404-249-9155, chris.fair@MedShapesolutions.com
About MedShape Solutions, Inc.:
MedShape Solutions, Inc. is a privately held medical device company based in Atlanta, GA. MedShape Solutions is committed to creating and delivering unique shape memory based technologies in the field of orthopedics and to Shaping the Future of Orthopedics(TM). More information can be found at www.MedShapesolutions.com
Source: MedShape Solutions
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