6. November 2009 23:18
Facet Solutions, Inc. announced today that it has acquired all of the assets of Archus Orthopedics. The acquisition creates an undisputed leadership position in product offerings, intellectual property and clinical experience in posterior motion preservation. "This is a win for patients suffering from lumbar spinal stenosis," stated Facet Solutions' President & CEO, Geoff Pardo. "This consolidation further strengthens Facet Solutions' position in lumbar spine motion preservation surgery, which is the fastest growing sector of the surgical spine marketplace."
With the Archus acquisition, Facet Solutions now holds 36 patents and nearly 200 patent applications. "The combined portfolio represents an unprecedented level of coverage for an orthopedic product category," stated Marc Peterman, Vice President of Research & Development for Facet Solutions. "The acquisition clarifies Facet Solutions' intellectual property position and provides a tremendous platform for innovation. Our posterior motion solutions hold the potential to supplant the bulk of the degenerative fusion market."
Facet Solutions is currently enrolling the ACADIA(TM) lumbar stenosis study. "We are making rapid progress in our US Pivotal trial," continued Geoff Pardo. "The speed with which we are enrolling patients is indicative of both the market need and the simplicity of the ACADIA(TM) procedure." Twenty sites in the United States are now active in the trial, with over 100 patients enrolled in 2009. The combined company has treated over 300 patients worldwide, with excellent clinical outcomes extending past 4 years.
SOURCE Facet Solutions, Inc.
Subscribe