Schwartz Biomedical Sells BioDuct® Assets to Stryker Orthopaedics
Posted: Jul 15th, 2009
FORT WAYNE, IN —BioAvascular Solutions LLC (formerly known as BioDuct LLC), a Schwartz Biomedical subsidiary, announces the sale of BioDuct® assets to Stryker Howmedica Osteonics (Stryker Orthopaedics) of Mahwah, New Jersey. BioAvascular Solutions previously announced that it had received clearance from the FDA (Food and Drug Administration) on its BioDuct® meniscal device. According to Dr. Herb Schwartz, president of BioAvascular Solutions and Schwartz Biomedical, “We are very excited to have Stryker Orthopaedics launch this technology into the market. Stryker is an excellent strategic partner and will provide the enhanced distribution and marketing expertise for BioDuct® products. With their broad and experienced sales force and market presence, our confidence is high that the right surgeons will have access to this technology and patients can ultimately receive the benefit.”
The patented BioDuct® technology allows orthopaedic surgeons to repair the shock absorbing cartilage (meniscus) in the knee instead of removing it. Prior to the BioDuct® device, surgeons had no option but to excise the damaged portions of the meniscus, and this, unfortunately for the patient, can lead to (osteo)arthritis and even total knee replacement.
"The BioDuct® Meniscal Repair Device has the potential to be a landscape changer,” according to Frank Proch, Manager of Engineering for Schwartz Biomedical and BioAvascular Solutions. “It provides an elegant solution to one of the most common orthopaedic injuries and can significantly alter the algorithm surgeons use for meniscus injuries.”
As a result of this transaction, BioDuct LLC has changed its name to BioAvascular Solutions LLC and will retain the rights to certain applications of the technology.
About Schwartz Biomedical
Schwartz Biomedical, LLC, is an orthopaedic tissue engineering company located in the Northeast Indiana Innovation Center in Fort Wayne, Indiana. The company innovates and develops novel tissue engineering solutions for orthopaedic problems.
Web site: www.schwartzbiomedical.com
About Stryker Corporation
Stryker Corporation is one of the world's leading medical technology companies with the most broadly based range of products in orthopaedics and a significant presence in other medical specialties. Stryker works with respected medical professionals to help people lead more active and more satisfying lives. The Company's products include implants used in joint replacement, trauma, craniomaxillofacial and spinal surgeries; biologics; surgical, neurologic, ear, nose & throat and interventional pain equipment; and endoscopic, surgical navigation, communications and digital imaging systems; as well as patient handling and emergency medical equipment.
For more information about Stryker, please visit the company web site at www.stryker.com.
Source: Schwartz Biomedical, LLC 3201 Stellhorn Road Fort Wayne, IN 46815 Phone: 260-407-6468 Fax: 260-492-0452 Web: www.schwartzbiomedical.com Stryker Orthopaedics Contact: Aaron Kwittken Kwittken & Company t: (646) 747-7144 firstname.lastname@example.org