Healthcare Industry News: ArthroCare
News Release - September 28, 2010
ArthroCare Introduces Complete Ambient ArthroWand CollectionWands Provide Surgeons with Accurate, Real-Time Temperature Measurements of Circulating Fluid During Surgeries
AUSTIN, Texas--(Healthcare Sales & Marketing Network)--ArthroCare Corp.’s Sports Medicine division announced this week the introduction of its complete Ambient® ArthroWand® Collection – a portfolio of radiofrequency devices designed to provide orthopedic surgeons with accurate, real-time temperature monitoring of the circulating fluid within the arthroscopic operative environment.
“The introduction of our complete Ambient Collection is a significant next step in the continuing growth and development of our ArthroWand family of products for shoulder and knee repair,” said Scott Schaffner, Senior Vice President and General Manager of ArthroCare Sports Medicine. “We’ve now introduced reliable temperature monitoring to arthroscopic procedures. The Ambient collection is easy to use and the system provides surgeons with real-time information. It’s something we know many surgeons have been asking for and we’re excited to be able to deliver.”
Last October, Peter Millett, MD, of the Steadman Clinic in Vail, Colorado, published research in The Journal of Bone and Joint Surgery on temperature levels during arthroscopic procedures. Millett said, “…our research found that operative fluid temperatures during arthroscopic surgery depend on a number of variables, including flow rates. For me, the Ambient wand has become an integral tool for arthroscopic procedures, because it allows me to constantly verify that I’m operating within a desired thermal range. In today’s healthcare environment, Ambient wands provide me with additional information and an added level of comfort.”
The Ambient wands’ adjustable alarm set point allows the surgeon to set the alarm at the temperature he or she feels is appropriate. A visual and audible alarm feature provides direct feedback to the surgeon if the temperature reading reaches the user-selected alarm set point. The alarm feature acts as a reminder, encouraging the surgeon to check if adjustments should be made to flow or suction throughout the duration of the procedure. The Quantum 2 System Controller continually displays the real-time, operative environment temperature of the circulating fluid as measured by the Ambient wands.
Founded in 1993, ArthroCare Corporation (NASDAQ: ARTC ) (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.
The information provided herein includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on beliefs and assumptions by management and on information currently available to management. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Additional factors that could cause actual results to differ materially from those contained in any forward-looking statement include, without limitation: the ability of the Company to fulfill its obligations with respect to the rights of the holders of the Series A Convertible Preferred Stock, including but not limited to the redemption rights and registration rights of the holders of the Series A Convertible Preferred Stock; the resolution of litigation pending against the Company; the Company’s ability to design or improve internal controls to address issues detected in its reviews of internal controls and insurance reimbursement practices or by management in its reassessment of the Company’s internal controls; the impact upon the Company’s operations of legal compliance matters or internal controls review, improvement and remediation; the ability of the Company to control expenses relating to legal compliance matters or internal controls review, improvement and remediation; the Company’s ability to remain current in its periodic reporting requirements under the Exchange Act and to file required reports with the Securities and Exchange Commission on a timely basis; the results of the investigations being conducted by the Staff of the Division of Enforcement of the Securities and Exchange Commission and the United States Department of Justice; the impact on the Company of additional civil and criminal investigations by state and federal agencies and civil suits by private third parties involving the Company’s financial reporting and its previously announced restatement and its insurance billing and healthcare fraud-and-abuse compliance practices; the ability of the Company to attract and retain qualified senior management and to prepare and implement appropriate succession planning for its Chief Executive Officer; general business, economic and political conditions; competitive developments in the medical devices market; changes in applicable legislative or regulatory requirements; the Company’s ability to effectively and successfully implement its financial and strategic alternatives, as well as business strategies, and manage the risks in its business; and the reactions of the marketplace to the foregoing.
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