Regeneration Technologies Inc. Announces Contract Amendments With Medtronic Sofamor Danek, Exactech
Published: Dec 20, 2005
ALACHUA, Fla., Dec. 20 /PRNewswire-FirstCall/ -- Regeneration Technologies Inc. (RTI) , the Florida-based processor of orthopedic, cardiovascular and other biologic implants, today announced amendments to its contracts with both Medtronic Sofamor Danek USA, Inc. (MSD) and Exactech Inc., removing any exclusivity regarding distribution of RTI's allograft paste implants. The amendments now also give RTI the rights to distribute allograft paste products through its own direct distribution.
Previous to the amendments, MSD had exclusive distribution rights for RTI's allograft demineralized bone matrix (DBM) for spinal applications, and Exactech had exclusive rights for general orthopedic and dental applications. MSD distributes allograft DBM under the trademark OSTEOFIL(R), while Exactech distributes allograft DBM under the trademarks Opteform(R) and Optefil(R) for general orthopedic applications, and Regenaform(R) and Regenafil(R) for dental applications.
"The contract amendments enhance and clarify the distribution channels for our DBM, allowing RTI, MSD and Exactech to serve their customers needing these paste implants," said Brian K. Hutchison, RTI's chairman, president and CEO. "These contracts will now allow multiple distributors to carry RTI's allograft paste and we will reach more patients with these safe, high-quality implants."
Separately, the company said it has begun distributing its own DBM line under the trademark BioSet(TM) DBM. The BioSet DBM is available through RTI's direct distribution force.
"We are excited about our ability to expand our distribution capabilities in this $200 million market," said Roger W. Rose, executive vice president of RTI. "We believe that between our direct distribution, combined with MSD and Exactech, we can reach every hospital in the country with these implants."
All DBM products processed by RTI consist of demineralized bone matrix in a purified gelatin carrier, with bone chips added to the moldable version for osteoconduction. Available in various sizes and forms, RTI's DBM is ideal for use as a bone void filler in many types of surgical procedures.
RTI's DBM mixes with sterile water, saline or the patient's blood in a few easy steps. Handling is easy, as the DBM can be stored at room temperature -- no warming is required -- and is non-water soluble to set effectively in wet environments. Every lot of finished DBM is tested in vivo for bone formation and is delivered with device-level sterility.
About Regeneration Technologies Inc.
RTI processes allograft and xenograft tissue into shaped implants for use in orthopedic, cardiovascular and other surgeries with a commitment to science, safety and innovation.
RTI also holds the patents on BioCleanse(R), the only proven tissue sterilization process validated to eliminate viruses, bacteria, fungi and spores from tissue without impacting the structural or biomechanical integrity of the tissue. The company has distributed more than 650,000 allograft implants sterilized with the BioCleanse process with zero incidence of infection. RTI is accredited by the American Association of Tissue Banks and was named a 2004 Technology Pioneer by the World Economic Forum.
Except for historical information, any statements made in this press release about the company's anticipated financial results, future operational results, regulatory approvals or changes to the company's agreements with its distributors are forward-looking statements subject to risks and uncertainties, such as those described in the company's public filings on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results reflected in these forward-looking statements. Copies of the company's SEC filings may be obtained by contacting the company or the SEC or by visiting RTI's web site at http://www.rtix.com or the SEC's web site at http://www.sec.gov .Regeneration Technologies Inc.
CONTACT: Wendy Crites Wacker, APR, Corporate Communications, RegenerationTechnologies Inc., +1-386-418-8888
Web site: http://www.rtix.com/