MIAMI, May 10, 2012 (GlobeNewswire via COMTEX) — Internal Fixation Systems (otcqb:IFIX) announced today that it has entered into a distribution agreement with Intelligent Orthopaedics Ltd. (IO) to market its Staffordshire Orthopaedic Reduction Machine (STORM) which is a reusable device that is used to reduce (align) fractures of the tibia prior to surgical fixation. IO was formed in 2005 and specializes in the design, development, manufacture and distribution of orthopedic trauma devices specifically for the treatment of long bone fractures. IO is based in Stoke-on-Trent, Staffordshire in the UK and has ISO 13485 certification. The STORM is CE marked and also has FDA clearance to market.
“We are pleased to be able to add the STORM to our growing list of orthopedic trauma products. At a selling point of $29,999, the STORM will be priced approximately 40 — 50% below what competitors are charging for similar devices. This fits nicely with IFS’ commitment to bring innovative orthopedic products and devices to market for an affordable price,” said Internal Fixation Systems CEO, Stephen Dresnick. He went on to add, “We believe the STORM is easier to use as well as less expensive than other reduction/distraction devices currently on the market in the United States. Being able to market the STORM system to over 5,000 hospitals and 5,000 surgery centers around the United States will provide us with yet another product to add to our rapidly expanding product line.”
Susan Hartman, CEO of Intelligent Orthopaedics, said, “We are delighted to be able to partner with Internal Fixation Systems to introduce our unique range of products to trauma surgeons. STORM has been shown to shorten the overall OR time by 25% and reduce exposure to radiation by 50%. Internal Fixation Systems have established channels of distribution open to them that would otherwise take us years to develop.”
About IFS: Internal Fixation Systems, Inc. is a manufacturer and marketer of high quality, responsibly priced orthopedic, spinal and podiatric implants. We seek to prove that superior products and lower costs can go hand in hand. IFS focuses on widely used, market proven products used to treat common fractures. Our Advisory Panel, consisting of nationally recognized surgeons, provides input on how to improve our implant designs. The resulting products incorporate doctor requested enhancements and are priced at 40-60% less than the competition. IFS customers include ambulatory surgery centers, hospitals and orthopedic surgeons. Please contact us for more information about our product and business model.