|
PRESS RELEASES
Contacts: Anthony Viscogliosi, Small Bone Innovations, Inc. (212) 583-9700
ext. 2100
Nick Kilsby, Creative Partners PR, (203) 705-9202
FROST & SULLIVAN LAUDS
SMALL BONE INNOVATIONS' AGGRESSIVE GROWTH STRATEGIES IN THE ORTHOPEDIC
DEVICE INDUSTRY
Palo Alto, Calif.: October 24th, 2007
– Frost & Sullivan selected Small Bone Innovations (SBi),
Inc. as the recipient of the 2007 North American Frost & Sullivan
Award for Entrepreneurial Company of the Year. SBi, through its focus
on tissue-based and ‘life-altering’ treatment technologies,
has established their position in the $35 billion and still growing
orthopedic industry.
SBi’s unique and unrelenting focus on addressing unmet needs in
the treatment of small bones and joints of the upper and lower limbs
has been augmented by the acquisition and integration of several smaller,
established device makers.
“Despite the focus on large bone and joint replacements, more
than 50 percent of doctor visits and nearly 24 percent of all orthopedic
surgeries in the United States are related to small bone and joint problems,”
says Frost & Sullivan Research Analyst Archana Swathy. “The
lack of emphasis on innovation in the small bone and joint sector reflects
in a highly fragmented market containing a host of single product companies.”
The highly experienced SBi team that comprises orthopedic surgeons and
industry management aims to transform the treatment methods of small
bone and joint impairments by creating a totally new industry model.
Remarkably, within just 30 months of its launch, SBi incorporated 61
product systems in three key product platforms, namely arthroplasty,
trauma, and tissue technology. SBi is applying highly innovative technologies
to each of the three platforms by focusing primarily on a ‘single
source of supply’ concept.
The RE-MOTION™ Total Wrist System, PRECISE SD™ volar distal
radius plating, RingFIX™ foot and ankle fixation technology and
the SBi rHead™ Elbow Management System have found ready takers
within the arthroplasty and trauma sectors.
As for tissue technology, the rapidly evolving line of Artelon®
Spacers is fast replacing more radical procedures to eliminate pain
and restore function to the thumb joint.
For trauma, SBi has a complete array of internal and external fixation
systems including instrumentation to repair and reconstruct small bones
of the upper and lower extremity.
“The small bones and joints, due to their anatomical complexity
and disposition, make surgical access very difficult,” notes Frost
& Sullivan’s Swathy. “As a result, SBI’s RE-MOTION™
Total Wrist System comes with the Precise Guidance Technology (PGT™)
Instrumentation to offer a step-by-step, predictable and reproducible
approach to these intricate procedures.”
Recognizing the need for innovation and a fast growing yet demanding
aging patient base, SBi is working toward becoming the leading solution
provider for small bone and joint impairments all over the world. The
company has a direct sales and distribution network covering 39 countries.
In 2007, surgeons are, for the first time, using SBi’s new UNI-Elbow™
Radio Capitellum System. This year, the company also launched its STABILITY™
Sigmoid Notch Total DRUJ System™, the first ‘truly anatomical’
distal radial-ulnar joint replacement system.
“SBi also announced a series of new technology acquisitions and
licensing agreements in Europe as an assertive move towards expanding
their lower limb product line such as the RingFIX™ system used
to treat foot and ankle bones and joints severely affected by diabetes,”
notes Swarthy.
Each year Frost & Sullivan presents this Award to the company that
has demonstrated excellence within its industry. The Award is based
on numerous factors including the company’s business development,
competitive strategy, and leadership within a particular Frost &
Sullivan industry research group. The recipient has demonstrated superior
market growth skills through significant gains in the market during
the research period.
Frost & Sullivan Best Practices Awards recognize companies in a
variety of regional and global markets for demonstrating outstanding
achievement and superior performance in areas such as leadership, technological
innovation, customer service, and strategic product development. Industry
analysts compare market participants and measure performance through
in-depth interviews, analysis, and extensive secondary research in order
to identify best practices in the industry.
* * * * * * * * * * * * *
About Small Bone Innovations, Inc.
Small Bone Innovations, Inc. (SBi) was founded in 2004 by Viscogliosi
Bros., LLC, (VB), the New York-based merchant banking firm that specializes
in the musculoskeletal/orthopedic sector. VB created SBi as the first
company to focus purely on small bone & joint science. By integrating
established companies and professionals in the field, SBi can offer
a broad, clinically proven portfolio of products and technologies to
treat trauma and diseases in small bones & joints. Today, SBi has
more than 140 employees at facilities in New York, NY, Morrisville,
PA and Minneapolis, MN.
SBi closed on the sale of $42.2 million of its securities in December
2005. At the time, based on data provided by Venture Source, this was
the largest venture capital investment ever recorded in the field of
orthopedic devices.
SBi was a 2006 recipient of Red Herring magazine's annual “"Red
Herring 100 North America" award, recognized as one of the nation's
leading technology companies and the only orthopedic device company
selected among an initial entry of more than one thousand firms.
Additionally, SBi's Artelon CMC-I Spacer, developed for patients with
osteoarthritis at the base of the thumb, was featured on the cover and
highlighted within Medical Design Technology magazine’s “Year
of Innovation” issue as one of the most fascinating technologies
influencing the medical device industry. Medical Device & Diagnostic
Industry magazine named SBi to its list of “50 Companies to Watch”
in 2006, noting, “Small Bone Innovations is going against the
grain in its determination to become a market leader in the small bone
& joint device sector.”.
For more information on SBi, please visit: www.totalsmallbone.com
* * * * * * * * * * * * *
About Frost & Sullivan
Frost & Sullivan, the Growth Consulting Company, partners with clients
to accelerate their growth. The company's Growth Partnership Services,
Growth Consulting and Career Best Practices empower clients to create
a growth focused culture that generates, evaluates and implements effective
growth strategies. Frost & Sullivan employs over 45 years of experience
in partnering with Global 1000 companies, emerging businesses and the
investment community from more than 30 offices on six continents. For
more information, visit http://www.awards.frost.com.
Contact:
Stacie Jones
210.247.2450
Stacie.jones@frost.com
Copyright © Small Bone Innovations, Inc., 2005-2006.
> Back to Press Releases
|
|
