Printer Friendly
The Free Library
14,680,088 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Synovis Life Technologies Receives CE Mark Approval for the Use of Veritas[R] Collagen Matrix in Hernia Repair and Breast Reconstruction.


Company Will Launch Proprietary Soft Tissue Repair Product Into the European Hernia Repair Hernia Repair Definition

Hernia repair is a surgical procedure to return an organ that protrudes through a weak area of muscle to its original position.
 and Breast Reconstruction Breast Reconstruction Definition

Breast reconstruction is a series of surgical procedures performed to recreate a breast. Reconstructions are commonly done after one or both breasts are removed as a treatment for breast cancer.
 Markets

ST. PAUL, Minn. -- Synovis Life Technologies A Minneapolis based company, Synovis Life Technologies is a medical device manufacturer that recently celebrated 25 straight profitable quarters and earned itself a slot on the Fortune 100 Fastest Growing Companies and Forbes 200 Best Small Companies lists, and the Russell 2000® Index. , Inc. (Nasdaq: SYNO), a leading biomaterial and surgical products company, has received CE Mark approval for its Veritas([R]) Collagen Matrix, allowing the company to sell Veritas in the European hernia repair and breast reconstruction markets. Veritas is an extremely conformable and strong biomaterial which acts as a "scaffold" that allows for rapid repopulation repopulation

1. introduction of new animals to a farm or part of it after it has been depopulated for health or production reasons.

2. the additional growth of normal cells around a tumor that is being destroyed by irradiation.
 and revascularization by the surrounding host tissue.

"CE Mark approval for these indications is a significant milestone for Veritas. With the addition of the European market for hernia repair and breast reconstruction, we look forward to expanding our presence in the worldwide soft tissue repair market and increasing our international revenue," said Richard W. Kramp, Synovis Life Technologies president and chief executive officer. "We have already trained our independent distributors in Europe on the advantages of Veritas, and they will immediately start to sell Veritas to the European physician community. The hernia repair and breast reconstruction applications represent large and strong European market opportunities for Synovis."

Veritas is an exceptionally supple and durable product. In addition to providing strength and flexibility, Veritas avoids acute and chronic infections and unwanted chronic inflammation chronic inflammation
n.
Inflammation that may have a rapid or slow onset but is characterized primarily by its persistence and lack of clear resolution; it occurs when the tissues are unable to overcome the effects of the injuring agent.
 that occurs frequently in response to the use of synthetic patches. The distinct characteristics of Veritas, which include its pericardial pericardial /peri·car·di·al/ (-kahr´de-al)
1. pertaining to the pericardium.

2. surrounding the heart.


pericardial

pertaining to the pericardium.
 substrate and proprietary processing, offer functional and ease of use advantages over other biological patches.

Synovis launched Veritas into the ventral hernia ventral hernia Abdominal bernia, see there  market in the United States in early 2007 and in the breast reconstruction market in 2008. Revenue for Veritas in the fiscal third quarter ended July 31, 2009 was $2.4 million, an increase of 82 percent from the year-ago period and an increase of 10 percent sequentially from the fiscal 2009 second quarter.

About Synovis Life Technologies

Synovis Life Technologies, Inc., based in St. Paul, Minn., develops, manufactures and markets mechanical and biological products used by several surgical specialties for the repair of soft tissue damaged or destroyed by disease or injury. The company's products are designed to reduce risks and/or facilitate critical surgeries, improve patient outcomes and reduce healthcare costs. For additional information on Synovis Life Technologies and its products, visit the company's Web site at www.synovislife.com.

Forward-looking statements contained in this press release are made pursuant to the safe harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995. The statements can be identified by words such as "should", "could", "may", "will", "expect", "believe", "anticipate", "estimate", "continue", or other similar expressions. Certain important factors that could cause results to differ materially from those anticipated by the forward-looking statements made herein include the timing of product introductions, the ability of our expanding direct sales force to grow revenues, outcomes of clinical and marketing trials as well as regulatory submissions, the number of certain surgical procedures performed, the ability to identify, acquire and successfully integrate suitable acquisition candidates, the cost and outcome of intellectual property litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.

When a person begins a civil lawsuit, the person enters into a process called litigation.
, any operational or financial impact of the current global economic downturn, current market conditions affecting its investments and any claims for indemnification related to the sale of the interventional business, as well as the other factors found in the company's reports to the Securities and Exchange Commission, including our Annual Report on Form 10-K Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
, as amended by Form 10-K/A (Amendment No. 1) for the year ended October 31, 2008.
COPYRIGHT 2009 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Oct 22, 2009
Words:571
Previous Article:Saba OnDemand Now Used by Over 3.6 Million Users.
Next Article:Fitch Assigns 'F1+' S-T IDR to UBS Bank USA.
Topics:



Related Articles
NEW MEDICAL DEVICE PLANT.(Synovis Life Technologies Inc. expands capacity of Synovis Interventional Solutions)(Brief Article)
COOK INTRODUCES MESH FOR INGUINAL HERNIA REPAIR.(Brief Article)
FDA approves silicone gel-filled breast implants.(in the news)(Brief article)
Synovis Life granted important FDA indication and United States patent for Veritas collagen matrix.
SYNOVIS LIFE REPORTS 39% REVENUE GROWTH FOR 3RD FISCAL QTR.(Financial report)
Synovis turns around its third-quarter profit picture.(Financial News)(Financial report)
Synovis Life Technologies sells unit to US division of Heraeus.(Top of the News)
International report.
Synovis Life spending $12.1m to purchase Pegasus Biologics.(Top of the News)(Company overview)
Synovis gets clearance for 2 tissue repair items

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles