BILLERICA, Mass., July 15, 2019 (GLOBE NEWSWIRE) -- Conformis, Inc. (NASDAQ: CFMS), a medical technology company that uses its proprietary iFit Image-to-Implant technology platform to develop, manufacture and sell patient specific joint replacement implants designed to fit each patient's unique anatomy, announced today a new alliance with Regent Surgical Health.
Working together, the organizations will aim to develop innovative ways to help reduce cost and improve patient outcomes relating to outpatient total joint replacement in alternative sites of care.
A privately held surgery center development and management company in the United States, Regent Surgical Health owns or operates 26 U.S. surgical facilities, 21 hospital joint ventures, 3 bundled payment entities, and 14 total joint replacement centers.
“Conformis has transformed joint replacement technology which has led to better patient outcomes,” said Chris Bishop, CEO of Regent Surgical Health. “Our collaboration builds on that and allows us to improve clinical pathways for patients while enhancing the value proposition for surgeons, employers, and payers.”
“We are pleased to collaborate with Regent Surgical Health to help bring about improved outcomes and efficiencies in outpatient total joint surgery,” said Mark Augusti, CEO of Conformis. “It is clear that payers and providers want to establish a business and clinical care model that results in better patient outcomes and enables delivery of total joint arthroplasty resulting in overall lower cost of care.”
About Conformis, Inc.
Conformis is a medical technology company that uses its proprietary iFit Image-to-Implant technology platform to develop, manufacture and sell joint replacement implants that are individually sized and shaped, or customized, to fit each patient's unique anatomy. Conformis offers a broad line of customized knee and hip implants and customized pre-sterilized, single-use instruments delivered to the hospital. In clinical studies, Conformis iTotal CR knee replacement system demonstrated superior clinical outcomes, including better function and greater patient satisfaction, compared to traditional, off-the-shelf implants. Conformis owns or exclusively in-licenses issued patents and pending patent applications that cover customized implants and customized patient-specific instrumentation for all major joints.
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Cautionary Statement Regarding Forward-Looking Statements
Statements in this press release about our future expectations, plans and prospects, including statements about the anticipated timing of our product launches, our collaboration with Regent Surgical Health and our financial position and results, total revenue, product revenue, gross margin, operations, as well as other statements containing the words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "project," "should," "target," "will," or "would" and similar expressions, constitute forward-looking statements within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. We may not actually achieve the forecasts disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual financial results could differ materially from the projections disclosed in the forward-looking statements we make as a result of a variety of risks and uncertainties, including risks related to our estimates and expectations regarding our revenue, gross margin, expenses, revenue growth and other results of operations, and the other risks and uncertainties described in the "Risk Factors" sections of our public filings with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent our views as of the date hereof. We anticipate that subsequent events and developments may cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date hereof.
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