MIAMI, June 12, 2012 (GLOBE NEWSWIRE) -- Internal Fixation Systems’ (IFIX) President and CEO, Stephen J. Dresnick, MD today clarified the $7.5 Million financing through Hyde Park Advisors, LLC (“Hyde Park”), an affiliate of Central Park Financial, a N.Y.-based institutional investor.
According to Stephen Dresnick, MD, IFS’ President and CEO, “the Company will be able to draw on the facility as needed. We will use the initial draw to build additional surgery sets of existing products. This will be the quickest way to grow our revenue. If each set is used 10-12 times each month, our revenues will quickly grow. Our small fragment bone sets costs $4-5,000 to build and should produce revenue of $700-800 per surgery. We would like to deploy an additional 100 sets by the end of this calendar year of both our mini-cannulated screw sets as well as our small fragment fracture plating system. “We have other sets in development and subsequent draws will enable us to put those products into the field. Costs and revenues per set are similar to our small fragment system.”
About IFS: Internal Fixation Systems, Inc. is a manufacturer and marketer of high quality, responsibly priced orthopedic, spinal and podiatric implants. We seek to prove that superior products and lower costs can go hand in hand. IFS focuses on widely used, market proven products used to treat common fractures. Our Advisory Panel, consisting of nationally recognized surgeons, provides input on how to improve our implant designs. The resulting products incorporate doctor requested enhancements and are priced at 40-60% less than the competition. IFS customers include ambulatory surgery centers, hospitals and orthopedic surgeons. Please contact us for more information about our product and business model.
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Contact:
Stephen Dresnick, President/Chief Executive OfficerTel: 786 268 0995sdresnick@ifsusa.net