ALACHUA, Fla.--(BUSINESS WIRE)--RTI Biologics Inc. (RTI) (Nasdaq:RTIX - News), the Florida-based processor of orthopedic, dental, hernia and other biologic implants, announced today that it has signed an expanded agreement with Davol Inc., a subsidiary of C.R. Bard Inc.
Under the agreement, which is effective immediately, RTI will supply Tutoplast® sterilized dermal allografts for exclusive worldwide distribution by Davol for breast reconstruction applications. The agreement also extends Davol’s exclusive worldwide distribution rights for dermal allografts for use in hernia repair for ten years.
The new agreement includes a payment for exclusive distribution rights in the breast reconstruction market and potentially two additional payments based on growth milestones in the hernia and breast reconstruction markets.
“We are pleased to expand our relationship with Davol to include the exclusive distribution of human donated dermis for breast reconstruction applications,” said Brian K. Hutchison, RTI’s chairman and chief executive officer. “Since our merger with Tutogen last year, our hernia repair distribution has seen excellent growth, and we look forward to reaching more patients with safe, high quality biologic solutions in hernia and breast reconstruction with an industry leading distributor like Davol.”
About RTI Biologics Inc.
RTI Biologics, Inc. is the leading provider of sterile biological implants for surgeries around the world with a commitment to advancing science, safety and innovation. RTI prepares human donated tissue and bovine tissue for transplantation through extensive testing and screening, precision shaping and proprietary, validated sterilization processes. These allograft and xenograft implants are used in orthopedic, dental, hernia and other specialty surgeries.
RTI’s innovations continuously raise the bar of science and safety for biologics – from being the first company to offer precision-tooled bone implants and assembled technology to maximize each gift of donation, to inventing validated sterilization processes that include viral inactivation steps. Two such processes – the BioCleanse® Tissue Sterilization Process and the Tutoplast® Tissue Sterilization Process – have a combined record of more than two million implants distributed with zero incidence of allograft-associated infection. These processes have been validated by tissue type to inactivate or remove viruses, bacteria, fungi and spores from the tissue while maintaining biocompatibility and functionality.
RTI’s worldwide corporate headquarters are located in Alachua, Fla., with international locations in Neunkirchen, Germany, and Aix-en-Provence, France. The company is accredited by the American Association of Tissue Banks in the United States.
Forward Looking Statement
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about our industry, our management’s beliefs and certain assumptions made by our management. Words such as “anticipates”, “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words and similar expressions are intended to identify such forward-looking statements. In addition, except for historical information, any statements made in this communication about anticipated financial results, growth rates, new product introductions, future operational improvements and results or regulatory approvals or changes to agreements with distributors also are forward-looking statements. These statements are not guarantees of future performance and are subject to risks and uncertainties, including the risks described in public filings with the Securities and Exchange Commissions (SEC). Our actual results may differ materially from the 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 website at www.rtix.com or the SEC’s website at www.sec.gov.
Contact:
RTI Biologics Inc.Thomas F. Rose, Executive Vice President and CFOorCorporate CommunicationsWendy Crites Wacker, APR, 386-418-8888wwacker@rtix.com
