RALEIGH, N.C., July 18, 2014 (GLOBE NEWSWIRE) -- Baxano Surgical, Inc. (Nasdaq:BAXS), a medical device company focused on designing, developing and marketing minimally invasive products to treat degenerative conditions of the lumbar spine, today announced that the Journal of Managed Care Medicine, a peer-reviewed national publication, has accepted an economic analysis of the AxiaLIF pre-sacral interbody fusion procedure in comparison to transforaminal lumbar interbody fusion (TLIF).
The analysis, conducted by Scott Parker, MD, Director of the Spinal Column Surgical Quality and Outcomes Research Laboratory at Vanderbilt University, and Dr. Matt McGirt, Carolina Neurosurgery and Spine Associates, Adjunct Associate Professor, University of North Carolina, analyzed the bibliography for AxiaLIF and TLIF procedures and assessed relative costs by looking at reoperation rates, complication rates, blood loss and OR time. The study found that AxiaLIF resulted in an approximately $4,500 lower cost per procedure when looking at these procedural parameters.
According to Dr. McGirt, “This study adds to the growing body of evidence that minimally invasive spine surgery technologies can provide down-stream economic benefits by shortening hospital stay, reducing hospital readmission, and accelerating return to work. In many cases, these down-stream cost savings can more than offset the upfront costs of MIS enabling implants and technologies.”
“Minimally invasive spine procedures can provide profound savings to the health care system. This paper evaluates the clinical and economic benefits of pre-sacral interbody fusion using the AxiaLIF implant based on a large compendium of peer reviewed published evidence,” stated Ken Reali, President and CEO of Baxano Surgical. “The Journal of Managed Care Medicine is a leading peer-reviewed publication targeting the community of insurance company Medical Directors that make decisions regarding which technologies to cover. We look forward to leveraging this publication as a key part of our dialogue with payor-policy decision-makers.”
The final published article will be available in the fall issue of the journal.
About Baxano Surgical, Inc.
Baxano Surgical, Inc. is a medical device company focused on designing, developing, and marketing minimally invasive products to treat degenerative conditions of the spine affecting the lumbar region. Baxano Surgical currently markets the AxiaLIF® family of products for single and two level lower lumbar fusion, the VEO® lateral access and interbody fusion system, the iO-Flex® system, a proprietary set of flexible instruments used by surgeons during spinal decompression procedures, the iO-Tome® instrument, which rapidly and precisely removes bone, specifically the facet joints, which is commonly performed in spinal fusion procedures and Avance™, an MIS pedicle screw system used in lumbar fusion procedures. Baxano Surgical was founded in May 2000 and is headquartered in Raleigh, North Carolina. For more information, visit www.baxanosurgical.com.
AxiaLIF, VEO, iO-Tome and iO-Flex are all registered trademarks of Baxano Surgical.
About the Journal of Managed Care Medicine
The Journal of Managed Care Medicine is a quarterly, peer-reviewed publication of the National Association of Managed Care Physicians (NAMCP). Circulation for The Journal of Managed includes medical directors from purchasers, health plans and provider systems. For more information, contact the publisher at keads@namcp.org.
Forward Looking Statements
This press release includes statements that are based on our current beliefs and assumptions. These statements constitute “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control, and which may cause results to differ materially from expectations. Factors that could cause our results to differ materially from those described include, but are not limited to, the pace of adoption of our product technology by spine surgeons, the outcome of coverage and reimbursement decisions by the government and third party payors, the success of our continuing product development efforts, the effect on our business of existing and new regulatory requirements, our ability to raise additional capital, our ability to comply with our settlement agreement and Corporate Integrity Agreement with certain entities of the U.S. government, stockholder class action lawsuits, and other economic and competitive factors. For a discussion of the most significant risks and uncertainties associated with Baxano Surgical’s business, please review the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2013 and subsequent reports. You are cautioned not to place undue reliance on these forward looking statements, which are based on Baxano Surgical’s expectations as of the date of this press release and speak only as of the date of this press release. We undertake no obligation to publicly update or revise any forward looking statement, whether as a result of new information, future events or otherwise.
CONTACT: Baxano Surgical, Inc. Tim Shannon, Chief Financial Officer 919-926-8762 or Stonegate, Inc. Casey Stegman 214-987-4121 casey@stonegateinc.com
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