Conformis Achieves 100,000 Implant Milestone for Patient-Specific Knee Replacement Technology
BILLERICA, Mass., Jan. 30, 2020 (GLOBE NEWSWIRE) — Conformis, Inc. (NASDAQ:CFMS), a medical technology company that uses its proprietary iFit Image-to-Implant technology platform to develop, manufacture and sell patient-specific knee and hip joint replacement implants designed to fit each patient’s unique anatomy, announced today that the Company has achieved the milestone of 100,000 knee joint replacement implants.
“We are very pleased to announce this tremendous milestone for personalized joint replacement implant treatments,” said Mark Augusti, President and Chief Executive Officer. “We are strong advocates for the utilization of patient-specific implants in total knee replacement because the size, shape and curvature of the knee are unique for each patient. Implants designed specifically for each patient enable efficient surgery and higher levels of patient satisfaction versus standard ‘off-the-shelf’ implants. Thank you to all of the surgeons and patients who have traveled this journey with us and helped achieve this significant milestone.”
More than twenty peer-reviewed clinical studies published in medical journals to date support the strong performance of Conformis technology. Links to these medical journals are available at www.conformis.com/surgeon-resource-center/clinical-studies. In 2018, Conformis engaged PrecisionEffect and SurveyHealthcareGlobus (SHG) to conduct a study of patient satisfaction with knee implants – Conformis vs. non-Conformis. The results of this third-party study show that 87% of the Conformis patients surveyed were highly likely to recommend their knee implant to a friend or colleague, versus only 70% of the non-Conformis patients surveyed.
In November 2019, the Company announced FDA clearance of the new 3D-designed Conformis Hip System and the system’s full commercial launch. Similar to the design process for Conformis knee technologies, the Conformis Hip System uses proprietary advanced imaging and design software, to deliver a patient-specific, pre-operative surgical plan with a comprehensive set of iJig instruments and patient-matched implants. The Conformis Hip System iJigs work in conjunction with anatomic landmarks to ensure the proper placement and orientation of the femoral stem, as well as the acetabular cup. In addition, Conformis’ proprietary reamer system provides a single-use, patient-matched reaming solution that delivers efficient and accurate cup orientation to a controlled depth for each surgical case.
About Conformis, Inc.
Conformis is a medical technology company that uses its proprietary iFit Image-to-Implant technology platform to develop, manufacture and sell patient-specific joint replacement implants (individually sized and shaped, or customized, to fit each patient’s unique anatomy). Conformis offers a broad line of sterile, customized knee and hip implants and single-use instruments delivered to the hospital. In clinical studies, the Conformis iTotal CR knee replacement system demonstrated superior clinical outcomes, including better function and greater patient satisfaction, compared to traditional, off-the-shelf implants. Conformis owns or exclusively in-licenses issued patents and pending patent applications that cover customized implants and customized patient-specific instrumentation for all major joints.
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Statements in this press release about our future expectations, plans and prospects, including statements about the anticipated timing of our product launches, and our financial position and results, total revenue, product revenue, gross margin, operations and growth, as well as other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” and similar expressions, constitute forward-looking statements within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. We may not actually achieve the forecasts disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual financial results could differ materially from the projections disclosed in the forward-looking statements we make as a result of a variety of risks and uncertainties, including risks related to our estimates and expectations regarding our revenue, gross margin, expenses, revenue growth and other results of operations, and the other risks and uncertainties described in the “Risk Factors” sections of our public filings with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent our views as of the date hereof. We anticipate that subsequent events and developments may cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date hereof.
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