For Release: 7:00 am EST
on November 6th, 2009
Facet Solutions Acquires Archus Orthopedics
Hopkinton, MA (November 6, 2009) - 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 ACADIATM 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 ACADIATM 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.
About Lumbar Stenosis
Over 1.5 million people are diagnosed with lumbar spinal stenosis
each year in the United States. There are 400,000 surgeries annually
in the United States targeting lumbar spinal stenosis. Facet
Solutions has developed the ACADIATM system, offering the potential
of quicker recovery, restoration of range of motion, and better
overall pain relief for the patient suffering from both leg and
back pain.
About Facet Solutions
Facet Solutions, Inc. is a privately held, venture-backed
company focused on development and commercialization
of surgical devices for the treatment of degenerative
spinal disorders. Facet Solutions has received venture
capital from its partners De Novo Ventures, Spray Venture
Partners, and FirstMark Capital. Facet Solutions is certified
to ISO 13485. ACADIA™ is an investigational device
in the United States (U.S.), limited by Federal Law for
investigational use only.
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Press Contact
Mr. Geoff Pardo
President & CEO
Facet Solutions, Inc.
45 South Street, Unit 1
Hopkinton, MA 01748
508-435-2492
geoff@facetsolutions.com
www.facetsolutions.com
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