AxiaLIF Plus and VEO Regulatory Approval in Mexico and Colombia
IO-Flex Approved in Turkey
RALEIGH, N.C., Sept. 26, 2013 (GLOBE NEWSWIRE) -- Baxano Surgical, Inc. (Nasdaq:BAXS), a medical device company focused on designing, developing and marketing minimally invasive products to treat degenerative conditions of the spine affecting the lumbar region, today announced regulatory approvals and distribution agreements for certain of its products in Mexico, Colombia and Turkey.
Disortho in Colombia and Biomedical Tech in Mexico, who are established leaders in spinal implants in their respective countries, will begin distributing AxiaLIF Plus and VEO. MediKon Saglik in Turkey has been a successful distributor of AxiaLIF in Turkey for many years and will add IO-Flex to its portfolio. Key surgeons in all three markets are trained on Baxano Surgical technologies and are expected to begin performing cases in the fourth quarter of 2013.
"We are excited to be expanding our international footprint in Latin America and Turkey," said Ken Reali, President and Chief Executive Officer of Baxano Surgical, Inc. "We believe that these markets represent attractive opportunities for our proprietary portfolio of minimally invasive spine products. The combination of our engaged distributors and a focus on excellent surgeon training will drive strong adoption in these markets in the years to come."
About Baxano Surgical, Inc.
Baxano Surgical, Inc. is a medical device company focused on designing, developing, and marketing minimally invasive products to treat degenerative conditions of the spine affecting the lumbar region. Baxano Surgical currently markets the AxiaLIF® family of products for single and two level lower lumbar fusion, the VEOTM lateral access and interbody fusion system, the iO-Flex® system, a proprietary set of flexible instruments used by surgeons during spinal decompression procedures and the iO-Tome™ instrument, which rapidly and precisely removes bone, specifically the facet joints, which is commonly performed in spinal fusion procedures. Baxano Surgical was founded in May 2000 and is headquartered in Raleigh, North Carolina. For more information, visit www.baxanosurgical.com.
AxiaLIF® and iO-Flex® are registered trademarks of Baxano Surgical.
Forward Looking Statements
This press release includes statements that are based on our current beliefs and assumptions. These statements constitute "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control, and which may cause results to differ materially from expectations. Factors that could cause our results to differ materially from those described include, but are not limited to, the pace of adoption of our product technology by spine surgeons, the outcome of coverage and reimbursement decisions by the government and third party payors, the success of our continuing product development efforts, the effect on our business of existing and new regulatory requirements, our ability to raise additional capital, our ability to comply with our settlement agreement and Corporate Integrity Agreement with certain entities of the U.S. government, stockholder class action lawsuits, and other economic and competitive factors. For a discussion of the most significant risks and uncertainties associated with Baxano Surgical's business, please review the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2012 and subsequent reports. You are cautioned not to place undue reliance on these forward looking statements, which are based on Baxano Surgical's expectations as of the date of this press release and speak only as of the date of this press release. We undertake no obligation to publicly update or revise any forward looking statement, whether as a result of new information, future events or otherwise.