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Agreement enables interested Vizient members, including academic medical centers, acute care facilities, and ambulatory surgery centers (ASCs), to purchase Conformis knee and hip replacement solutions, including its new Image-to-Implant® Platinum Services℠ Program
BILLERICA, Mass., Aug. 01, 2022 (GLOBE NEWSWIRE) -- Conformis, Inc., (NASDAQ: CFMS), a leading medical device company that features personalized knee and hip replacement products, today announced it has entered into a multi-year agreement with Vizient, Inc., the nation's largest member-driven health care performance improvement company.
“We are excited to offer personalized orthopedic implants to Vizient’s large membership of healthcare facilities through this contract. As more orthopedic patients and surgeons seek personalized solutions, increased awareness and ease of access to our product portfolio is more important than ever. The Vizient agreement connects us to a significant number of providers, many of which have limited access and awareness of our products and our new Platinum Services Program,” said Mark Augusti, Chief Executive Officer and President of Conformis.
The agreement gives increased access to the entire Conformis knee and hip portfolio to Vizient’s membership base, which is comprised of academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non-acute health care providers, and includes:
Identity Imprint™, a personalized knee replacement system;
Image-to-Implant® Platinum Services Program, a patient-elected deluxe upgrade option to obtain a fully personalized knee replacement implant; and,
Cordera™ Match Hip System, a personalized primary hip replacement solution.
Conformis implants improve efficiency and reduce overall costs for medical facilities. Researchers at the University of Washington in Seattle found that fully personalized total knee arthroplasty is cost-effective in comparison to a standard, off-the-shelf implant. Ongoing research suggests that fully personalized implants further reduce total costs to the healthcare system because patients recover more quickly and are less likely to require follow-up corrective (revision) surgeries.
About Conformis, Inc.
Founded in 2004, Conformis is a medical technology company focused on advancing orthopedic patient care and creating a world without joint pain. Its product portfolio is designed to maximize surgeon and patient choice by offering fully personalized solutions through its Image-to-Implant® Platinum Services℠ Program as well as data-informed, standardized solutions that combine many benefits of personalization with the convenience and flexibility of an off-the-shelf system. Conformis’ sterile, just-in-time, Surgery-in-a-Box™ delivery system is available with all of its implants and personalized, single-use instruments. Conformis owns or exclusively in-licenses issued patents and pending patent applications that cover personalized implants and patient-specific instrumentation for all major joints.
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, and our financial position and results, total revenue, product revenue, gross margin, operations and growth, 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.
Source: Conformis, Inc.