CONMED Completes Acquisition of Biorez, Inc.
August 09 2022 - 4:05PM
Business Wire
CONMED Corporation (NYSE: CNMD) today announced that it
has completed its previously announced acquisition of
privately-held Biorez, Inc.
Biorez is a medical device start-up based in New Haven, CT and
is focused on advancing the healing of soft tissue using its
proprietary BioBrace® Implant technology. The BioBrace Implant is
an innovative bioinductive scaffold that is intended to reinforce
soft tissue where weakness exists and facilitate healing. BioBrace®
is cleared for use by the FDA in multiple product sizes. The
transaction is being financed through the Company's existing credit
facility.
About CONMED Corporation
CONMED is a medical technology company that provides surgical
devices and equipment for minimally invasive procedures. The
Company’s products are used by surgeons and physicians in a variety
of specialties, including orthopedics, general surgery, gynecology,
thoracic surgery, and gastroenterology. For more information, visit
www.conmed.com.
About Biorez, Inc.
Biorez is a New Haven, CT based medical device start-up focused
on advancing the healing of soft tissues using its proprietary
BioBrace® Implant technology.
Forward-Looking Statements
This press release may contain forward-looking statements based
on certain assumptions and contingencies that involve risks and
uncertainties, which could cause actual results, performance, or
trends to differ materially from those expressed in the
forward-looking statements herein or in previous disclosures. For
example, in addition to general industry and economic conditions,
factors that could cause actual results to differ materially from
those in the forward-looking statements may include, but are not
limited to, the risks posed to the Company’s business, financial
condition, and results of operations by the COVID-19 global
pandemic and the various government responses to the pandemic,
including deferral of surgeries, reductions in hospital and
ambulatory surgery center operating volumes, disruption to
potential supply chain reliability; the ability of CONMED to
advance Biorez’s product lines following the Merger, including
challenges and uncertainties inherent in product research and
development, and the uncertain impact, outcome and cost of ongoing
and future clinical trials and market studies; the potential
effects of the Merger on relationships with employees, customers,
other business partners or governmental entities; any assumptions
underlying any of the foregoing; as well as risk factors discussed
in the Company’s Annual Report on Form 10-K for the full year ended
December 31, 2021 and other risks and uncertainties which may be
detailed from time to time in reports filed by CONMED with the U.S.
Securities and Exchange Commission. CONMED’s shareholders and other
investors are cautioned that any such forward-looking statements
are not guarantees of future performance and to not place undue
reliance on these forward-looking statements, as actual results may
differ materially from those currently anticipated. All
forward-looking statements are based on information currently
available to CONMED, and CONMED undertakes no obligation to update
any such forward-looking statements as a result of new information,
future developments or otherwise, except as expressly required by
law.
The Company believes that all forward-looking statements made by
it have a reasonable basis, but there can be no assurance that
management’s expectations, beliefs or projections as expressed in
the forward-looking statements will actually occur or prove to be
correct.
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version on businesswire.com: https://www.businesswire.com/news/home/20220809006024/en/
CONMED Corporation Todd Garner Chief Financial
Officer 727-214-2975 ToddGarner@conmed.com
CONMED (NYSE:CNMD)
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