Exactech Announces First Implantation of New Alteon™ Tapered Wedge
Exactech, Inc. (Nasdaq: EXAC), a developer and producer of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, is proud to announce the first implantation of the Alteon™ Tapered Wedge Femoral Stem. The surgery took place at Franciscan St. Francis Health in Carmel, Ind., and was performed by orthopaedic surgeon Jeffery Pierson, MD, a member of the design team for this new hip replacement implant.
“It has been an incredibly gratifying experience to be directly involved in the design and development of a device that performed as well in surgery as I anticipated it would,“ said Pierson. “Clinically relevant improvements to devices, such as the ones we made with the new Tapered Wedge Stem, allow us to continue to provide the best standard of care to our patients.”
Over the past two years, Dr. Pierson and Michael Kang, MD, from the Insall-Scott-Kelly Institute in New York, N.Y., consulted with Exactech to bring to market a newly designed stem that addresses several clinical challenges that many surgeons face with current product design philosophies.
The Tapered Wedge Stem, which is currently in the pilot launch phase of release, incorporates specific features designed to achieve axial and rotational mechanical stability between the lateral and medial cortices of the femoral canal. This product will be expanding to a limited number of additional sites within the coming months, and company officials report a full launch within the U.S. is expected to take place in January of 2015.
“We are pleased to provide this technology to patients who can benefit from the Alteon Tapered Wedge Stem,” said Exactech CEO David Petty. “This design philosophy represents about 40 percent of the market for cementless stems in the U.S. This new products gives us an opportunity to reach many more patients needing total hip replacement.”
Based in Gainesville, Fla., Exactech develops and markets orthopaedic implant devices, related surgical instruments and biologic materials and services to hospitals and physicians. The company manufactures many of its orthopaedic devices at its Gainesville facility. Exactech’s orthopaedic products are used in the restoration of bones and joints that have deteriorated as a result of injury or diseases such as arthritis. Exactech markets its products in the United States, in addition to more than 30 markets in Europe, Latin America, Asia and the Pacific. Additional information about Exactech, Inc. can be found at http://www.exac.com . Copies of Exactech’s press releases, SEC filings, current price quotes and other valuable information for investors may be found at http://www.exac.com  and http://www.hawkassociates.com .
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This release contains various 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, which represent the company’s expectations or beliefs concerning future events of the company’s financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. These factors include the effect of competitive pricing, the company’s dependence on the ability of third party manufacturers to produce components on a basis which is cost-effective to the company, market acceptance of the company’s products and the effects of government regulation. Results actually achieved may differ materially from expected results included in these statements.