PARIS & SAN FRANCISCO--(BUSINESS WIRE)--Regulatory News:
SpineGuard (Paris:ALSGD) (FR0011464452 – ALSGD), an innovative company that develops and markets disposable medical devices designed to make spine surgery safer, announced today an exclusive distribution agreement with XinRong Medical Group for PediGuard® in China, Hong Kong and Macau.
China’s spine market has become the world’s second-largest market after the USA and is expected to be worth over $1 billion by 20191, driven by an aging population, increasing disease prevalence and treatment rates, along with growing affordability.
“We are excited about this agreement and believe that XinRong Medical Group has all of the right attributes to successfully introduce PediGuard® in China, a market with great commercial potential. The number of spine fusions continues to grow rapidly across the country creating a substantial need for an easy-to-use smart device to secure the placement of pedicle screws consistently. Since its clearance by CFDA, numerous Chinese orthopedists and neurosurgeons have expressed a strong interest for our DSG™ technology. We now very much look forward to seeing them adopt it in their spine surgery practice,” said Pierre Jérôme, CEO and co-founder of SpineGuard.
“XR Medical is delighted to partner with SpineGuard, the company that owns PediGuard® and DSG™ technology. PediGuard® is the only one of its kind, and XinRong Medical is very excited to introduce one of the most advanced surgical solutions globally to the China market. SpineGuard’s cutting-edge technology allows surgical staff and patients to significantly reduce exposure to surgical radiation in the operating room while helping surgeons achieve more precise spinal implantation in real time. Ease of use, cost effectiveness, accuracy, and safety are the benefits that we want to bring to surgeons in China, through which we will continue to realize our vision of putting patients first,” added Christine Zhang, XinRong Medical Group’s CEO.
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Founded in 2009 in France and the USA, by Pierre Jérôme and Stéphane Bette, SpineGuard’s mission is to make spine surgery safer by bringing real-time digital technology into the operating room. Its primary objective is to establish its proprietary DSG™ (Dynamic Surgical Guidance) technology as the global standard of surgical care, starting with safer screw placement in spine surgery and then in other surgeries. PediGuard®, the first device designed using DSG, was co-invented by Maurice Bourlion, Ph.D., Ciaran Bolger, M.D., Ph.D., and Alain Vanquaethem, Biomedical Engineer. It is the world’s first and only handheld device capable of alerting surgeons to potential pedicular or vertebral breaches. Over 50,000 surgical procedures have been performed worldwide with DSG™ enabled devices. Numerous studies published in peer-reviewed medical and scientific journals have demonstrated the multiple benefits that PediGuard® delivers to patients, surgical staff and hospitals. SpineGuard is expanding the scope of its DSG™ platform through strategic partnerships with innovative medical device companies and the development of smart instruments and implants. SpineGuard has offices in San Francisco and Paris. For further information, visit www.spineguard.com.
About XinRong Medical Group
XinRong Medical Group, a leader in medical technology, is dedicated to increasing patient affordability and providing the most advanced solutions for surgeons such that they can deliver the best patient care. XinRong Medical offers innovative solutions in orthopedic surgery, neurosurgery, reconstructive surgery, and minimally invasive therapy. Established in 2000 in Jiangsu Province, China, XinRong Medical was one of the first companies in China cleared by CFDA to manufacture Orthopedic Implants. In 2014, the Company received a strategic investment from The Blackstone Group (NYSE: BX). For additional information about XinRong Medical, please refer to our website www.XRBest.Com, or contact us directly at +86-512-58100828 or email@example.com.
The SpineGuard securities may not be offered or sold in the United States as they have not been and will not be registered under the Securities Act or any United States state securities laws, and SpineGuard does not intend to make a public offer of its securities in the United States. This is an announcement and not a prospectus, and the information contained herein does and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in the United States in which such offer, solicitation or sale would be unlawful prior to registration or exemption from registration.
1 according to IData Research