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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
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