BEDFORD, Mass., June 21, 2016 (GLOBE NEWSWIRE) -- ConforMIS, Inc. (NASDAQ:CFMS), a medical technology company that offers joint replacement implants customized to fit each patient's unique anatomy, today announced that their newest product to market, the iTotal® PS posterior-stabilized total knee replacement system, was named the winner of the Gold Stevie® Award in the Health & Pharmaceuticals Product category. The Stevie Award, presented by The American Business Awards, recognizes businesses and products that represent important advances in technology and innovation.
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“ConforMIS utilizes proprietary technology to offer a distinctive and innovative product line that represents major advances in joint replacement for patients, surgeons, hospitals and payers,” said Philipp Lang, MD, MBA, Chief Executive Officer and President of ConforMIS. “The full commercial launch of the new iTotal PS customized knee replacement is another example of our dedication to and success in bringing high-quality, award-winning products to market in an expeditious manner. This most recent addition to our product portfolio allows us to greatly expand the number of individual patients that may be treated with our customized knee implants.”
According to the Centers for Disease Control and Prevention, more than 700,000 knee replacements are performed each year in the United States. Recent studies have demonstrated that approximately one in five patients is not satisfied with a traditional total knee replacement. The ConforMIS iTotal PS was designed to address the shortcomings of traditional knee implants, which come in a limited range of sizes. The customized iTotal PS implant builds on the advantages of the iTotal CR system, first introduced by ConforMIS in 2011. The iTotal PS implants are customized for each patient to avoid overhang, rotation, and sizing compromises, which are common causes of pain after knee replacement surgery. In recent clinical studies, patients with iTotal CR customized knee implants achieved superior outcomes, including better function and greater satisfaction when compared to patients with traditional, off-the-shelf implants.
“I am very pleased that ConforMIS iTotal PS has been selected for this prestigious honor,” Dr. Lang added. “Furthermore, I am excited to share this award with the many members of the ConforMIS team and the surgeons who made this such a potentially disruptive product. Accepting the American Business Award on behalf of the ConforMIS family is an honor and a privilege.”
The American Business Awards are the nation’s premier business awards program. More than 3,400 nominations from organizations of all sizes and across industry sectors were submitted this year for consideration and more than 250 professionals worldwide participated in the judging process to select this year’s Stevie Award winners. All organizations operating in the U.S.A. are eligible to submit nominations – public and private, for-profit and non-profit, large and small. Nicknamed the Stevies for the Greek word meaning “crowned,” the awards will be presented to winners at a gala ceremony at the Marriott Marquis Hotel in New York on Monday, June 20, 2016.
Details about The American Business Awards and the list of 2016 Stevie winners are available at www.StevieAwards.com/ABA.
About ConforMIS, Inc.
ConforMIS is a medical technology company that uses its proprietary iFit Image-to-Implant technology platform to develop, manufacture and sell joint replacement implants that are individually sized and shaped, or customized, to fit each patient’s unique anatomy. ConforMIS offers a broad line of customized knee implants and pre-sterilized, single-use instruments delivered in a single package to the hospital. In clinical studies, ConforMIS iTotal CR demonstrated superior clinical outcomes, including better function and greater patient satisfaction, compared to traditional, off-the-shelf implants. ConforMIS owns or exclusively in-licenses approximately 500 issued patents and pending patent applications that cover customized implants and patient-specific instrumentation for all major joints.
Cautionary Statement Regarding Forward-Looking Statements
Any statements in this press release about future expectations, plans and prospects for ConforMIS, including statements about ConforMIS’ strategy, future operations, future financial position and results, market growth, market disruption, the potential clinical, economic or other impacts and advantages of using customized implants and the commercial launch of iTotal PS, 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 plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make as a result of a variety of risks and uncertainties, including risks related to our estimates regarding the potential market opportunity for our current and future products, our expectations regarding our sales, expenses, gross margins and other results of operations, the impact of the CJR program, 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 ConforMIS’ views as of the date hereof. ConforMIS anticipates that subsequent events and developments may cause ConforMIS’ views to change. However, while ConforMIS may elect to update these forward-looking statements at some point in the future, ConforMIS specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing ConforMIS’ views as of any date subsequent to the date hereof.
About the Stevie Awards
Stevie Awards are conferred in seven programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, The American Business Awards, The International Business Awards, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 10,000 entries each year from organizations in more than 60 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.
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