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|Wright Medical Group, Inc. Announces Full Commercial Launch of FUSIONFLEX(TM) Demineralized Moldable Scaffold|
ARLINGTON, Tenn., Apr 25, 2011 (BUSINESS WIRE) --
Wright Medical Group, Inc. (NASDAQ: WMGI), a global orthopaedic medical device company, is pleased to announce the full commercial launch of FUSIONFLEX(TM) Demineralized Moldable Scaffold. FUSIONFLEX(TM) scaffold is a novel form of demineralized bone matrix made from 100% allograft. It is designed for use in conjunction with hardware in primary fusion procedures of the lower extremities, as well as other orthopaedic bone grafting applications. FUSIONFLEX(TM) scaffold expands Wright's market-leading portfolio of hardware and ortho-biologic products for the orthopaedic foot and ankle surgeon and will be made available immediately in the U.S. through Wright's specialized foot and ankle sales force.
FUSIONFLEX(TM) scaffold builds on the clinically-proven safety and efficacy of Wright's allograft platform and our long-standing partnership with AlloSource. The FUSIONFLEX(TM) scaffold quickly hydrates, and becomes a flexible, absorbent matrix which is easily compressed to fit into challenging spaces, yet robust enough to expand to match nearly any contour within the space.
Eric E. Gay, Senior Director of Upper Extremity and Biologics with Wright, commented, "There are an estimated 70,000 mid and hind foot fusions performed each year in the United States with a significant number requiring a biologic adjunct. Following minimal preparation, FUSIONFLEX(TM) scaffold readily absorbs biologic agents, such as bone marrow aspirate (BMA) and platelet-rich plasma (PRP), resulting in an intraoperatively-flexible graft at a relatively low cost. We are excited to introduce this graft as a solution for the large number of fusion procedures being performed in both hospital and outpatient settings."
FUSIONFLEX(TM) scaffold is the latest addition to Wright's Biologics franchise, which includes products such as PRO-STIM(R) Injectable Inductive Graft, XPANSION(R) Skin Grafting Instruments, PRO-DENSE(R) Injectable Regenerative Graft, GRAFTJACKET(R) Regenerative Tissue Matrix, BIOTAPE XM(R) Reinforcement Matrix, OSTEOSET(R) T Medicated Bone Graft (not available in the U.S.), and the ALLOPURE(R) line of foot and ankle bone wedges.
Wright Medical Group, Inc. is a global orthopaedic medical device company and a leading provider of surgical solutions for the foot and ankle market. The Company specializes in the design, manufacture and marketing of devices and biologic products for extremity, hip and knee repair and reconstruction. The Company has been in business for 60 years and markets its products in over 60 countries worldwide. For more information about Wright Medical, visit the Company's website at www.wmt.com.
AlloSource is a non-profit company that offers more than 200 precise bone, skin, soft-tissue and custom-machined allografts for use in an array of life-saving and life-enhancing medical procedures. As the world's leader in fresh cartilage tissue used for joint repair and skin allografts to heal severe burns, AlloSource has grown into one of the largest tissue networks in the country with more than 300 employees. It is the world's largest processor of live cellular bone growth substitutes and delivers unparalleled expertise and customer service to its growing network of surgeons, partners and the country's most reputable organ procurement organizations. As one of the leading innovators in maximizing tissue donation with the goal of offering optimal solutions for healthcare providers and their patients, AlloSource is recognized by the medical community for its ability to process and provide high quality tissue. The company is accredited by the American Association of Tissue Banks (AATB) and is headquartered in Centennial, CO. For more information, please visit allosource.org.
This press release contains "forward-looking statements" as defined under U.S. federal securities laws.These statements reflect management's current knowledge, assumptions, beliefs, estimates, and expectations and express management's current views of future performance, results, and trends and may be identified by their use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will," and other similar terms.Forward-looking statements are subject to a number of risks and uncertainties that could cause our actual results to materially differ from those described in the forward-looking statements.Such risks and uncertainties include the impact of Wright's settlement of the federal investigation into Wright's consulting arrangements with orthopaedic surgeons relating to its hip and knee products in the United States, including Wright's compliance with a Deferred Prosecution Agreement through September 2011 and a Corporate Integrity Agreement through September 2015, and those risks and uncertainties discussed in our filings with the Securities and Exchange Commission (including those described in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2010, under the heading, "Risk Factors" and Item 1A of Part II of our 10-Qs filed during 2011).Readers should not place undue reliance on forward-looking statements.Such statements are made as of the date of this press release, and we undertake no obligation to update such statements after this date.
SOURCE: Wright Medical Group, Inc.
Wright Medical Group, Inc.