Smith & Nephew plc and Teknimed Enter Into Global Distribution Agreement to Treat Compression Fractures in Spine
MEMPHIS, Tenn., May 15 /PRNewswire-FirstCall/ -- Smith & Nephew Orthopaedic Trauma & Clinical Therapies today announced that it has entered into an agreement with Teknimed SA to distribute, market and sell Teknimed's SPINE FIX product in North America, Europe and Australia.
The SPINE FIX product is used to treat painful compression fractures in the spine. It is a ready-to-use, self-hardening bone cement that is injected into the vertebrae through a minimally invasive procedure known as a vertebroplasty or kyphoplasty.
SPINE FIX is a low-risk procedure that offers patients a significant reduction in pain and an improvement in mobility. The procedure can take less than one hour, and pain relief can be felt as quickly as 25 minutes following the procedure.
"More than 700,000 spinal compression fractures occur each year, as a result of traumatic accidents or osteoporosis, and can result in back pain, pressure on the spinal cord, limited mobility and loss of height," said Mark Augusti, president, Orthopaedic Trauma & Clinical Therapies. "As a market leader in bone substitutes and surgical cements, Teknimed's SPINE FIX product complements Smith & Nephew's outpatient spine portfolio, and enhances our presence in this market. Smith & Nephew is committed to improving the quality of life for patients, and we believe this agreement will provide relief for those suffering with spinal compression fractures."
SPINE FIX was approved for use in Europe in 2003 and in the United States in 2006. SPINE FIX has already been launched in Europe, and Smith & Nephew will roll out SPINE FIX to the U.S. market in the third quarter of 2007.
"More than 10 million people suffer from osteoporosis, and as the population ages we expect the incidence of spinal compression fractures to increase," said Ken Reali, vice president & general manager, Clinical Therapies. "SPINE FIX complements our existing minimally invasive spine product line and we are excited to offer this product as an option to physicians and patients."
About us
Smith & Nephew is a global medical technology business, specializing in Orthopaedic Reconstruction, Orthopaedic Trauma & Clinical Therapies, Endoscopy and Advanced Wound Management products. Smith & Nephew is a global leader in arthroscopy and advanced wound management and is one of the leading global orthopaedics companies.
Smith & Nephew is dedicated to helping improve people's lives. The Company prides itself on the strength of its relationships with its surgeons and professional healthcare customers, with whom its name is synonymous with high standards of performance, innovation and trust. The company has 8,800 employees and operates in 31 countries around the world generating annual sales of nearly $2.8 billion.
About Teknimed
TEKNIMED is the French leader in biomaterial for bone surgery. TEKNIMED conceives and manufactures various products in the field of polymers, biodegradable polymers and calcium phosphates.
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Smith & Nephew Orthopaedic Trauma & Clinical TherapiesCONTACT: Analyst Inquiries: Liz Hewitt of Smith & Nephew, +44 (0) 20 79602256, liz.hewitt@smith-nephew.com; UK Media Inquiries: Dave Yates ofFinancial Dynamics, +44 (0)20 7269 7156, david.yates@fd.com; US MediaInquiries: Victor Rocha of Smith & Nephew, +1-901-399-6771,victor.rocha@smith-nephew.com
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