Healthcare Industry News: cardiac monitor
News Release - December 3, 2010
CONMED Corporation Receives Clearance From FDA for Novel Tissue Fusion SystemUTICA, NY--(Healthcare Sales & Marketing Network) - CONMED Corporation (NASDAQ:CNMD ), a medical technology company specializing in medical devices for surgical and patient monitoring markets, announced today that the U.S. Food and Drug Administration has given marketing clearance for the Company's thermal energy based tissue fusion system for use in a wide range of surgical procedures.
"We look forward to introducing our tissue sealing device, the AltrusŪ Thermal Tissue Fusion System, to the surgical community," noted Mr. Joseph J. Corasanti, President and CEO of CONMED. "We believe the current marketplace for energy based instruments approximates $1.5 billion, and while our initial revenue goals for AltrusŪ in 2011 are modest at $5 - $10 million, we expect AltrusŪ to be a contributor to our long-term growth prospects."
Over the last several years, surgeons have expanded the use of energy based instruments to reduce surgical times, improve patient outcomes and decrease procedure costs. Based on CONMED's original research in the technology, and with the understanding of surgeon needs, CONMED has developed the AltrusŪ Thermal Tissue Fusion system to advance the performance of energy-based instrumentation. Utilizing thermal energy, the AltrusŪ System is a multi-functional surgical tool that seals, cuts, grasps, and dissects vessels up to 7mm in size utilizing a closed feedback loop between the energy source and the single-use handpiece to precisely control the desired effect on tissue. Its versatility reduces the need for multiple instruments and instrument changes.
CONMED is a medical technology company with an emphasis on surgical devices and equipment for minimally invasive procedures and patient monitoring. The Company's products serve the clinical areas of sports medicine-arthroscopy, powered surgical instruments, electrosurgery, cardiac monitoring disposables, endosurgery and endoscopic technologies. Surgeons and physicians in a variety of specialties including orthopedics, general surgery, gynecology, neurosurgery, and gastroenterology use the Company's medical devices. Headquartered in Utica, New York, the Company's 3,300 employees distribute its products worldwide from several manufacturing locations.
Forward Looking Information
This press release contains forward-looking statements based on certain assumptions and contingencies that involve risks and uncertainties. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and relate to the Company's performance on a going-forward basis. The forward-looking statements in this press release involve risks and uncertainties which could cause actual results, performance or trends, to differ materially from those expressed in the forward-looking statements herein or in previous disclosures. The Company believes that all forward-looking statements made by it have a reasonable basis, but there can be no assurance that management's expectations, beliefs or projections as expressed in the forward-looking statements will actually occur or prove to be correct. In addition to general industry and economic conditions, factors that could cause actual results to differ materially from those discussed in the forward-looking statements in this press release include, but are not limited to: (i) the failure of any one or more of the assumptions stated above, to prove to be correct; (ii) the risks relating to forward-looking statements discussed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2009; (iii) cyclical purchasing patterns from customers, end-users and dealers; (iv) timely release of new products, and acceptance of such new products by the market; (v) the introduction of new products by competitors and other competitive responses; (vi) the possibility that any new acquisition or other transaction may require the Company to reconsider its financial assumptions and goals/targets; and/or (vii) the Company's ability to devise and execute strategies to respond to market conditions.
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