Conformis, Inc. Is Named the Winner of the 2008 North American Frost & Sullivan Award for Medical Device Healthcare Innovation
Burlington , Mass. — August 25, 2008 — Conformis. Inc. has been named the winner of the 2008 North AmericanFrost & Sullivan Award for Medical Device Healthcare Innovation. Frost & Sullivan chose to honor Conformis based on its recent analysis of the personalized healthcare market. This recognition is in support of the company’s commitment to delivering completely patient-specific orthopedic implants.
Each year, Frost & Sullivan presents this award to the company that has introduced truly innovative products, practices, or ideas to the specified industry or segment. The winner’s innovative contributions to healthcare must make it possible to envision a new level of care in the diagnosis, treatment, and management of disease, leading to better outcomes and quality-of-life for patients. In addition, the company’s innovative efforts may also lead to improvements in the tools that clinicians, diagnosticians, researchers, and healthcare administrators have at their disposal to improve quality and efficiency in provision of healthcare services.
“After conducting thorough research in the customized care market, Frost & Sullivan is pleased to recognize Conformis as the worthy recipient of the 2008 Medical Device Healthcare Innovation Award,” Frost & Sullivan Research Analyst Archana Swathy said. “Their innovative technology creates implants that precisely fit each individual patient, as opposed to the standard one-size-fits-all approach. Conformis offers treatment options where none were previously available. Not only does this advancement allow for the treatment of a broader range of patients, it also creates a less invasive surgical procedure.”
In recognizing Conformis, Frost & Sullivan noted that the company’s commitment to improving patients’ quality of life and helping surgeons serve patients more effectively were key factors in the selection process. “We are honored to be recognized for this award, which gave weight to both our technology platforms and our personalized approach to medical care,” said Philipp Lang, Chairman and CEO of Conformis. “Frost & Sullivan has a great reputation for research so it means even more that their analysts selected us from the broad range of innovative medical device companies.”
Noteworthy milestones for Conformis in 2008 have included the commercial launch of its iUni™ uni-compartmental resurfacing system and the iDuo™ bi-compartmental resurfacing system. These patient-specific, partial knee resurfacing systems are examples of the innovative, minimally invasive solutions that the company has been able to bring to market through their patient-specific approach. In May, Conformis was also recognized as one of the most innovative technology companies by the selection committee of the Red Herring 100 Award.
About Conformis, Inc.
Conformis, Inc. is a privately held company that develops and commercializes medical devices for the treatment of osteoarthritis and joint damages. The Company’s novel and scaleable ‘image-to-implant’ process is comprised of two related technology platforms. iFit™ Technology enables the creation of conforming, patient-specific implants that are precisely sized and shaped to match the 3D topography of the patient’s anatomy. iJig™ Instrumentation enables the creation of disposable, easy-to-use instrumentation that simplifies the surgical process and improves reproducibility.
Both platforms are supported by proprietary, intellectual property consisting of more than 120 patents and pending patent applications that span imaging software, image processing, implant design, surgical techniques and instrumentation.
To date, Conformis has developed a comprehensive line of minimally traumatic, bone and cartilage-preserving knee implants and instrumentation designed to address all stages of osteoarthritis. Each of these devices has been cleared by the US Food and Drug Administration for marketing in the U.S.