MONTREAL, May 26 /PRNewswire-FirstCall/ -- ORTHOsoft Holdings Inc. (TSX: OSH-X) announced today that it has signed an agreement with Zimmer, Inc., a world leader in reconstructive orthopaedics, for the development and worldwide distribution of computer assisted navigation solutions for knee, hip and spine implant surgery.
Under the terms of the agreement, ORTHOsoft will provide new software and computerized systems for assisting orthopaedic surgeons to install Zimmer’s implants. The ORTHOsoft products will be designed for use in traditional, as opposed to minimally invasive, surgical procedures. Zimmer will distribute the ORTHOsoft products through its worldwide marketing and sales network. ORTHOsoft will develop new products and provide technical support to Zimmer’s surgeon customers and sales representatives.
“Our agreement with Zimmer will globally expand the reach for our products, and provide significant resources for new product development and sales support,” said ORTHOsoft Chairman and CEO, Dr. Louis-Philippe Amiot. “Designed by and for surgeons, our orthopaedic software has shown in clinical trials to improve implant alignment and reduce patients’ post operative pain, when compared to conventional surgery.”
The market for computer-assisted orthopedic surgeries is growing by 30% per year and is driven by an aging population, demand for increased quality of patient care, and pressures to reduce health care costs. Computer assisted surgery also allows faster recovery time and improved patient outcomes. More than 1,000,000 knee and hip replacement surgeries are carried out around the world every year.
About ORTHOsoft
ORTHOsoft ( TSX: OSH-X http://www.orthosoft.ca/ ) develops and markets best-in- class medical software, instruments, and computerized systems to assist orthopedic surgeons to increase accuracy in hip, knee, and spine implant surgery. FDA approved, ORTHOsoft’s patented software solutions are developed by surgeons for surgeons, resulting in intuitive and easy to use navigation that tracks surgical flow and provides surgeons with real-time data that improves the surgical process and patient outcomes. To date, ORTHOsoft’s software applications have navigated more than 25,000 surgical procedures in Europe and North America.
About Zimmer
Founded in 1927 and headquartered in Warsaw, Indiana, Zimmer is the worldwide No.1 pure-play orthopaedic leader in designing, developing, manufacturing and marketing reconstructive and spinal implants, trauma and related orthopaedic surgical products. Zimmer has operations in more than 24 countries around the world and sells products in more than 100 countries. Zimmer’s 2004 sales were approximately $3 billion. The Company is supported by the efforts of more than 6,500 employees worldwide.
ORTHOSOFT HOLDINGS INC.
CONTACT: John F. Feilders, President and Chief Operating Officer,ORTHOsoft Holdings Inc., (514) 861-4074 x222,john.fielders@orthosoft.ca