MiMedx Group, Inc. (OTC Bulletin Board: MDXG.OB) announced today that it has officially launched its first product, Paradis Vaso Shield(TM). In April 2009, The Food and Drug Administration cleared the Vaso Shield for use as a cover for vessels following anterior vertebral surgeries. The Vaso Shield is a permanent and transparent hydrogel product protected by multiple patents and patent applications, as well as a proprietary manufacturing process.
Upon completion of an anterior spinal implant procedure, the physician places the Vaso Shield between the spinal implant site and the vessels and then sutures it to the perivertebral, non-vascular soft tissue to secure the implant. The device is designed to protect the vessels in subsequent anterior revision surgeries.
The Company also announced the hiring of a Vice President of Sales and Marketing, Mr. Michael W. Carlton. Mr. Carlton brings an extensive background in the management of orthopedic and vascular implant sales and marketing. Mr. Carlton commented, "I am very impressed with MiMedx Group's two new biomaterials, namely its hydrogel and collagen fiber. These products have the potential to improve patient outcomes and significantly reduce costs. I look forward to joining this very experienced management team and assisting with the growth of MiMedx Group."
Parker H. "Pete" Petit, MiMedx Chairman and CEO, also commented, "This is an exciting day for MiMedx Group because it represents the commercialization of our first in a series of new products from our hydrogel material. With the hiring of Mike Carlton, we have added another experienced executive to our team. His expertise and leadership will be instrumental in developing our distribution network for our hydrogel spine products and for our future sports medicine collagen fiber products. We look forward to reporting the progress of our market acceptance and the growth of our revenues from Vaso Shield beginning in our first calendar quarter of 2010."
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