Healthcare Industry News: Olympus
News Release - August 11, 2010
Small Bone Innovations, Inc. Announces First RE-MOTION Total Wrist Surgery in Malaysia Through Its Asia-Pacific Joint VentureStandard-of-care changing prosthesis introduced to patients in Malaysia
RE-MOTION™ is one of SBi’s leading-edge total joint replacement implants that alleviates pain, while preserving form, function and motion
KUALA LUMPUR, Malaysia & NEW YORK--(Healthcare Sales & Marketing Network)--Small Bone Innovations, Inc. (SBi), a leading, privately held orthopedics company focused primarily on arthroplasty and trauma reconstruction technology and treatments for the small bones & joints, announced the first total wrist joint replacement surgery in Malaysia using SBi’s RE-MOTION™ Total Wrist System in a 46-year old post-traumatic injury patient. The procedure was the first of its kind in Malaysia.
Dr. Ranjit Singh Gill, MBBS, FRCS, AM, head of the Hand and Microsurgery unit of Pantai Hospital Kuala Lumpur, reported that his patient had presented with a SNAC (Scaphoid Nonunion Advance Collapse) wrist resulting in an extremely painful and stiff right wrist.
The RE-MOTION™ Total Wrist System is an anatomically designed implant. The prosthesis is composed of three primary articulating components: radial, carpal ball, and carpal plate. The radial component is designed as a surface replacement arthroplasty requiring minimal resection of the radius bone preserving the peripheral rim with its important ligamentous and soft tissue attachments. The carpal plate component is a low profile design that minimizes the amount of bone resection and does not interfere with the normal function of the wrist extensor tendons. The carpal ball component articulates with both the radial and carpal plate components.
The Total Wrist System was implanted using SBi’s Precise Guidance Technology™ (PGT™) Instrumentation, a proprietary instrument system designed to allow surgeons to perform total wrist joint replacement with consistent & predictable outcomes. According to Dr. Gill, the procedure has eliminated the pain caused by post-traumatic osteoarthritis and will ultimately restore motion to the joint.
Dr. Gill said: “The RE-MOTION implant is one of several innovative technologies becoming available to us from SBi’s joint venture in Malaysia. As a hand and microsurgeon, I welcome the opportunity to work with a company who is focused exclusively on the treatment of small bones and joints. Obviously, this has also been appreciated by our patients and, no doubt, the new generation of arthritis sufferers.”
Anthony G. Viscogliosi, Chairman & CEO of SBi, said: “These first surgeries using our range of highly innovative products represent important milestones for SBi Asia Pacific and our partners in the joint venture. We view the region as a tremendous opportunity to fulfill unmet needs among both surgeons and patients demanding not only the alleviation of pain, but also the preservation of form, function and motion in affected joints.”
“Today, hospitals are faced with increased expectations from informed patients, who require and expect not only excellent healthcare quality and service, but also restoration of anatomic function,” elaborated Dr. Chan Boon Kheng, Group Chief Executive Officer, Pantai Holdings. “We established the Hand and Microsurgery Center at Pantai Hospital Kuala Lumpur, led by Dr. Gill, to do just that and expect that patient-centric innovative solutions such as the RE-MOTION Total Wrist System will be presented to our patients throughout the Pantai Hospital Network.”
SBi has been attracting considerable attention in recent months in both the financial and the orthopedics sector. Out of nearly 5,200 companies considered, SBi was the only orthopedic company on the list of the top 50 U.S. VC-backed companies in the Wall Street Journal article “Sizing Up Promising Young Firms” on March 9, 2010. Additionally, SBi was the 7th highest ranked healthcare company and was 24th amongst all 50 companies highlighted.
The company closed on $12 million in Series E funding from Olympus Corporation in March 2010. The company secured a $30mm debt facility from Fortress Investment Group to fund accelerated business expansion and refinance existing indebtedness in November 2009. The company in mid 2009 closed on $144 million in Series D and Series C funding from a host of investors including, Goldman, Sachs & Co., Khazanah Nasional Berhad, (the investment firm of the Government of Malaysia), Malaysian Technology Development Corporation (MTDC), an integrated Malaysian-based venture capital company, The Family Office of Bahrain, Viscogliosi Brothers, LLC, Trevi Health Ventures, NGN Capital, 3i Group, and TGap Ventures, among others.
About Small Bone Innovations, Inc.
Small Bone Innovations, Inc. (SBi) was founded in 2004 by Viscogliosi Brothers, LLC, (VB), a New York-based merchant banking firm that specializes in the musculoskeletal/orthopedics sector. VB created SBi as the first company to focus purely on small bones & joints. By integrating established companies and professionals in the field, SBi offers a broad, clinically proven portfolio of products and technologies to treat trauma and diseases in small bones & joints. Today, SBi has facilities in New York, NY, Morrisville, PA, Bourg-en-Bresse, France, Donaueschingen, Germany, and Kuala Lumpur, Malaysia and has sold its products in 46 countries.
For more information on SBi, please visit: www.totalsmallbone.com
About Pantai Holdings Berhad
Pantai Holdings Berhad (Pantai) is a healthcare conglomerate which today, has a network of ten (10) hospitals throughout Malaysia. Hospitals under the Pantai Hospitals brand are located strategically in Kedah, Penang, Perak, Selangor, Kuala Lumpur, Melaka and Johor. The flagship hospital, Pantai Hospital Kuala Lumpur is a premier 332- bed tertiary care hospital strategically located close to the city centre and within the cosy residential neighbourhood of Bangsar. Our 10th hospital within the Pantai Group, Gleneagles Hospital Kuala Lumpur, is a leading 330-bed tertiary care hospital, located in the heart of Kuala Lumpur. Collectively, the Pantai Group of Hospitals has a total of more than 1,500 beds, with over 100,000 admissions a year. The Group is anchored by a pool of clinical professionals, consisting of more than 700 doctors and 2,000 nurses.
Pantai also provides supplementary healthcare services comprising comprehensive laboratory and radiology facilities and rehabilitation services. Our College of Nursing & Health Sciences trains more than 600 nurses on a three-year curriculum.
For further information on Pantai Holdings, please visit: www.pantai.com.my
This news release contains forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting SBi’s business including increased competition; the ability of SBi to expand its operations and to attract and retain qualified professionals; technological obsolescence; general economic conditions; and other risks.
Source: Small Bone Innovations
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