Biomet Announces Licensing Agreement with Marc Tec.WARSAW, Ind. -- Biomet, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BMET BMET Biomedical Engineering Technology BMet Bachelor of Metallurgy BMET Bio-Medical Equipment Repair Technician ) announced today that Biomet Sports Medicine sports medicine, branch of medicine concerned with physical fitness and with the treatment and prevention of injuries and other disorders related to sports. Knee, leg, back, and shoulder injuries; stiffness and pain in joints; tendinitis; "tennis elbow"; and , the Company's arthroscopy Arthroscopy Definition Arthroscopy is the examination of a joint, specifically, the inside structures. The procedure is performed by inserting a specifically designed illuminated device into the joint through a small incision. subsidiary, has licensed more than 45 patents with applications in sports medicine and arthroscopy through an agreement with Marc Tec LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . Marc Tec is one of a family of affiliated companies of Bonutti Technologies, Inc., an innovator in minimally invasive surgical instrumentation. The arthroscopy market is currently estimated to be $1.7 billion worldwide, with the market in the United States approaching $1 billion. Biomet's Interim President and Chief Executive Officer Daniel P. Hann commented, "The completion of this licensing agreement will lead to the improvement of existing products and allow us to introduce unique, innovative products into the sports medicine market." Biomet Sports Medicine will be working with orthopedic surgeon Peter Bonutti, M.D. of the Bonutti Clinic, in Effingham, IL. Together they will develop new products in the areas of meniscal repair and suture anchors. "I am pleased to work with Biomet, a trendsetter in the sports medicine world and look forward to pooling our assets to advance sports medicine technology," stated Dr. Bonutti, founder of Marc Tec and Bonutti Technologies. Biomet Sports Medicine offers a complete line of arthroscopy products addressing the estimated $1.7 billion worldwide market. Biomet Sports Medicine, working in conjunction with the industry's most innovative surgeons, focuses its research and development efforts on technique-specific implants and instruments for anterior cruciate ligament anterior cruciate ligament n. Abbr. ACL The cruciate ligament of the knee that crosses from the anterior intercondylar area of the tibia to the posterior part of the lateral condyle of the femur. and arthroscopic shoulder repair. Biomet, Inc. and its subsidiaries design, manufacture and market products used primarily by musculoskeletal musculoskeletal /mus·cu·lo·skel·e·tal/ (-skel´e-t'l) pertaining to or comprising the skeleton and muscles. mus·cu·lo·skel·e·tal adj. Relating to or involving the muscles and the skeleton. medical specialists in both surgical and non-surgical therapy. The Company's product portfolio encompasses reconstructive products, including orthopedic joint replacement devices, bone cements and accessories, and dental reconstructive devices; fixation products, including electrical bone growth stimulators, internal and external orthopedic fixation devices, craniomaxillofacial implants and bone substitute materials; spinal products, including spinal stimulation devices, spinal hardware and orthobiologics; and other products, such as arthroscopy products and softgoods and bracing products. Headquartered in Warsaw, Indiana, Biomet and its subsidiaries currently distribute products in more than 100 countries. |
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