Economic Analysis of Minimally Invasive Spine Fusion Using AxiaLIF Accepted for Publication in the Journal of Managed Care Me...
July 18 2014 - 7:30AM
Baxano Surgical, Inc. (Nasdaq:BAXS), a medical device company
focused on designing, developing and marketing minimally invasive
products to treat degenerative conditions of the lumbar spine,
today announced that the Journal of Managed Care Medicine, a
peer-reviewed national publication, has accepted an economic
analysis of the AxiaLIF pre-sacral interbody fusion procedure in
comparison to transforaminal lumbar interbody fusion (TLIF).
The analysis, conducted by Scott Parker, MD, Director of the
Spinal Column Surgical Quality and Outcomes Research Laboratory at
Vanderbilt University, and Dr. Matt McGirt, Carolina Neurosurgery
and Spine Associates, Adjunct Associate Professor, University of
North Carolina, analyzed the bibliography for AxiaLIF and TLIF
procedures and assessed relative costs by looking at reoperation
rates, complication rates, blood loss and OR time. The study found
that AxiaLIF resulted in an approximately $4,500 lower cost per
procedure when looking at these procedural parameters.
According to Dr. McGirt, "This study adds to the growing body of
evidence that minimally invasive spine surgery technologies can
provide down-stream economic benefits by shortening hospital stay,
reducing hospital readmission, and accelerating return to work. In
many cases, these down-stream cost savings can more than offset the
upfront costs of MIS enabling implants and technologies."
"Minimally invasive spine procedures can provide profound
savings to the health care system. This paper evaluates the
clinical and economic benefits of pre-sacral interbody fusion using
the AxiaLIF implant based on a large compendium of peer reviewed
published evidence," stated Ken Reali, President and CEO of Baxano
Surgical. "The Journal of Managed Care Medicine is a leading
peer-reviewed publication targeting the community of insurance
company Medical Directors that make decisions regarding which
technologies to cover. We look forward to leveraging this
publication as a key part of our dialogue with payor-policy
decision-makers."
The final published article will be available in the fall issue
of the journal.
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 VEO®
lateral access and interbody fusion system, the iO-Flex® system, a
proprietary set of flexible instruments used by surgeons during
spinal decompression procedures, the iO-Tome® instrument, which
rapidly and precisely removes bone, specifically the facet joints,
which is commonly performed in spinal fusion procedures and
Avance™, an MIS pedicle screw system used in lumbar fusion
procedures. Baxano Surgical was founded in May 2000 and is
headquartered in Raleigh, North Carolina. For more information,
visit www.baxanosurgical.com.
AxiaLIF, VEO, iO-Tome and iO-Flex are all registered trademarks
of Baxano Surgical.
About the Journal of Managed Care Medicine
The Journal of Managed Care Medicine is a quarterly,
peer-reviewed publication of the National Association of Managed
Care Physicians (NAMCP). Circulation for The Journal of Managed
includes medical directors from purchasers, health plans and
provider systems. For more information, contact the publisher
at keads@namcp.org.
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, 2013 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.
CONTACT: Baxano Surgical, Inc.
Tim Shannon, Chief Financial Officer
919-926-8762
or
Stonegate, Inc.
Casey Stegman
214-987-4121
casey@stonegateinc.com