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Memometal Technologies Acquires OrthoGlide Ankle Technology From Advanced Bio-Surfaces, Inc.


2/22/2010 6:34:37 AM

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MEMPHIS, Tenn.--(BUSINESS WIRE)--Memometal Technologies S.A., a global extremity orthopaedic manufacturer headquartered in France, announced today that it has completed the acquisition of all the assets of Advanced Bio-Surfaces (ABS) Corporation’s OrthoGlide® Ankle Technology.

“OrthoGlide Ankle Technology represents a new option for foot and ankle surgeons,” said Alan Taylor, General Manager of Memometal Technologies’ U.S. subsidiary, MMI-USA of Memphis. “This technology and intellectual property will produce an implant similar to the unicompartmental knee; it can be used as a less invasive treatment for the ankle patient who might otherwise be offered a total ankle replacement or fusion.”

MMI estimates the number of U.S. patients who could benefit from this implant to be as many as 25,000 per year. “The market is growing for viable ankle implants, and there are still questions as to the benefits of a total ankle replacement versus fusion surgery. Our less invasive ankle implant will be a mid- to moderate intervention device that may reduce the need for a later fusion or total ankle replacement,” according to Dougal Bendjaballah, Memometal Technologies’ co-founder.

“The intellectual property involved in this acquisition includes both patents and perpetual licenses in the U.S. and worldwide. It is exciting to have the opportunity to be first with this type of implant, and at the same time, ensure patent protection for our work,” said Bernard Prandi, Memometal Technologies’ co-founder.

The OrthoGlide Ankle Technology joins Memometal Technologies’ leading portfolio of foot and ankle products, including: the Smart Toe® Hammertoe Implant, the Anchorage® Plating System, the Easy Clip® Fusion System, the MemoStep™ Fixator, and the X-Fuse® IP Fusion System.

For more information, contact MMI-USA at 901.685.7557 or visit the company online at www.mmi-usa.com.

MMI-USA, Inc. (www.mmi-usa.com) is a leading provider of innovative, cost-effective orthopedic extremity solutions dedicated to enhancing the ability of physicians to deliver improved patient outcomes and quality of life through quality implants, clinical education and superior services. A subsidiary of Memometal Technologies S.A., headquartered in France, the company’s implant designs are highly regarded by surgeons worldwide for superior functionality and results. The company was recognized in 2008 as a Company of the Future by Ernst & Young, France. Contact MMI-USA by telephone at 901.685.7557 or via e mail at ataylor@MMI-USA.com.

Advanced Bio-Surfaces Corporation (www.advbiosurf.com) is a privately held company dedicated to the development of innovative joint restoration products. The company’s flagship product, the OrthoGlide® Medial Knee Implant, is intended for the treatment of patients with moderate osteoarthritis of the medial compartment. For additional information, contact ABS at 952.912.5400.

Safe-Harbor Statement:

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements made in this press release, other than statements of historical fact, are forward-looking statements. Forward-looking statements reflect 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. The Company wishes to caution readers that actual results might differ materially from those described in the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties impacting Memometal Inc.’s business including increased competition, technical obsolescence, regulatory issues, general economic conditions and other risks.

® OrthoGlide is a registered trademark of Advanced Bio-Surfaces Corporation.

® Smart Toe, Anchorage, Easy Clip, MemoStep and X-Fuse are trademarks of Memometal Technologies S.A.

Contact:

MMI-USA Alan Taylor, General Manager, 901-685-7557 ataylor@MMI-USA.com or Memometal Technologies S.A. Dougal Bendjaballah, Co-Founder, 00 33 (0) 2 99 05 59 69 or Element-R Partners Susan Duensing, CBC, 847-639-8300 susan@rurelevant.com

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