Internal Fixation Systems Announces Form S-1 Declared Effective by SEC and Anticipated Quotation for Trading on OTCQB
Published: May 18, 2011
SOUTH MIAMI, Fla., May 18, 2011/PRNewswire/ --Internal Fixation Systems, Inc (IFS)announced today that its Registration Statement on Form S-1 (SEC File No. 333-170008) was declared effective by the Securities and Exchange Commission ("SEC") on May 15, 2011. In addition and contemporaneous with the effectiveness of the Registration Statement on Form S-1, IFS registered its common shares under the Securities Exchange Act of 1934 (the "1934 Act") and has voluntarily become subject to the reporting obligations under the 1934 Act. IFS anticipates that, subject to FINRA approval, IFS' common shares will become quoted for trading on the OTCQB.
About Internal Fixation Systems:
IFS is a medical technology company specializing in the manufacture and marketing of generically priced orthopedic and podiatric surgical implants. Our strategy is to offer high quality, cost effective surgical implants that are equivalent in quality, design, functionality and materials to the current industry "Gold Standards". We focus on products that no longer have patent protection, products that are used every day in surgery. This, along with our innovative modular design of surgery sets allows the company to have substantially lower R&D and FDA approval costs and also allows us to maintain substantially lower field inventory costs.
The company has FDA 510(k) approval for ten cannulated screw system products. Applications have been submitted for additional products including locking small fragment plates and locking distal radius plate along with corresponding instrument sets. We expect to receive FDA approval for these products in the second quarter of 2011 and that these products will be for sale by year-end.
IFS was started in 2006 and current customers include surgery center operators, hospitals and individual orthopedic surgeons.
The IFS management team is led by noted healthcare entrepreneur, Stephen Dresnick, MD, best known as the founder and CEO of Sterling Healthcare. "We are very excited to have completed this important milestone," said Dr. Dresnick. "The IFS team has been hard at work laying the foundation for our future activities."
VP of Sales Ken West, who has over 20 years of sales experience in the Orthopedic and Spine implant industry states, "Our commitment of producing high quality, low costs surgical implants is exactly what our clients have been requesting for years."
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Internal Fixation, such as the statements that (i) Internal Fixation anticipates that its shares will be quoted for trading on the OTCQB [or the OTCBB]; (ii).certain of Internal Fixation's products will become commercialized; and various other risks described from time to time in SEC reports filed by Internal Fixation. There are numerous risks and uncertainties that could cause actual results and Internal Fixation's plans and objectives to differ materially from those expressed in the forward-looking information, including: (i)Internal Fixation's inability to become quoted on the OTCQB (or OTCBB) for any reason; (ii)Internal Fixation's inability to remain current in its reporting obligations with the SEC; and (iii) Internal Fixation's inability to secure the financing necessary to continue its operations. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and views of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, IFS does not intend to update these forward-looking statements.
For further information, please contact: Laura Cattabriga, Chief Financial Officer, 786 268 0995, Laura.email@example.com
SOURCE Internal Fixation Systems, Inc