SMALL BONE INNOVATIONS, INC. RECEIVES ACCREDITATION FROM JAPAN FOR ITS FACILITIES
Morrisville, PA: May 16, 2011 – Small Bone Innovations, Inc. (SBi), announced today that its Morrisville, PA and Péronnas, France facilities have received manufacturers' accreditation from the government of Japan. The accreditation will allow product registrations in Japan, currently the region's biggest market for orthopedic technologies at $25 billion in revenues annually.
The award is an important and essential step in developing SBi's strategic partnership with Olympus Terumo Biomaterials Corporation (OTB), Tokyo, announced last year, to exclusively market an extensive portfolio of small bone & joint implants and instrumentation in Japan, including SBi's flagship product, the STAR™ Total Ankle Replacement System.
SBi, a privately-owned orthopedics company, is focused exclusively on treatments for joint replacement or 'arthroplasty' and post-traumatic reconstruction of the small bones & joints of the thumb, fingers, hand, wrist, elbow, toes, foot & ankle.
Japan's Ministry of Health, Labor and Welfare issued the accreditation certification in the "General Manufacturing" category for orthopedic products. The application included a full review of SBi's current manufacturing standards and practices and the ability of the partnership with OTB to deliver products throughout Japan in compliance with all relevant regulations.
Hitoshi Mizuno, Division Manager, Biotech Division, Olympus Corporation and CEO & President of Olympus Biotech Corporation, said: "The accreditation is a major building block in the development of the partnership because it comes at a time where demand for orthopedic technologies is growing sharply in Japan."
Anthony G. Viscogliosi, SBi Chairman & CEO, said: "The manufacturer's accreditation in Japan is an imprimatur of quality and compliance required of any company seeking a credible presence in this market. By joining with both Olympus and its OTB subsidiary we are gaining a foothold in one of the world's most sophisticated orthopedics markets and advancing our growth potential in Asia Pacific."
About Small Bone Innovations, Inc.
Small Bone Innovations, Inc. (SBi) was founded in 2004 by Viscogliosi Brothers, LLC (VB), the New York-based merchant banking firm that specializes in the musculoskeletal/orthopedics sector. SBi was the first company to focus purely on small bones & joints by integrating established companies and professionals in the field. It offers a broad, clinically proven portfolio of products and technologies to treat trauma and diseases in the small bones & joints.
SBi has facilities in New York, NY, Morrisville, PA, Bourg-en-Bresse, France, Donaueschingen, Germany, and Kuala Lumpur, Malaysia and has sold its products in 46 countries.
This news release contains forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting SBi's business including increased competition; the ability of SBi to expand its operations and to attract and retain qualified professionals; technological obsolescence; general economic conditions; and other risks.