FOR IMMEDIATE RELEASE
Contact: William von Brendel, 858-335-5790
Nextremity Solutions, Inc. Signs Product Development and Distribution Agreement with Z-Medical GmbH
COLTS NECK, NJ, July 24, 2012 – Nextremity Solutions, Inc. announced the execution of a multi-year product development and distribution agreement with Z-Medical GmbH, Tuttlingen, Germany. The agreement grants exclusive US distribution rights to Nextremity Solutions to all existing and future Z-Medical extremity products.
Greg Kowalczyk, VP of Marketing and Business Development for Nextremity Solutions, commented, “This agreement will have an immediate impact on our Company’s product offering and sales since the first products will be released as early as the third quarter of this year. Z-Medical is a remarkably creative company with innovative products that are complementary to our successful Nextra Hammertoe Correction System. The Z-Medical technology and our own in-house development will ensure a steady flow of products to the market. We are planning four additional product releases in 2013.”
Over 550,000 hammertoe procedures are performed in the US annually and another 1.2 million hammertoes are diagnosed but untreated. A recent market analyses describes the number of hammertoe sufferers in the US to be 30 million, which includes sufferers who have not seen a physician. Severe hammertoes are debilitating, causing pain and loss of mobility as well as being unsightly. Clinical studies indicate current treatment methods have high morbidity including infections and recurrence. The forefoot market, which includes hammertoes and bunions, is estimated at over one million procedures. It is one of the highest growth segments in orthopaedics.
About Nextremity Solutions, Inc.
Nextremity Solutions is a privately held medical-device company offering a novel approach to the surgical correction of small bone deformity, degeneration and trauma. The Company’s products are innovative, proprietary and adhere to the strictest quality standards.
Nextra™ Hammertoe Correction System and Nextra™ Hammertoe Correction Implant are trademarks of Nextremity Solutions, Inc.
For further information, visit www.nextremitysolutions.com or call 574-635-3023.