WARSAW, Ind., Mar 31, 2003 /PRNewswire-FirstCall via COMTEX/ --
Zimmer Holdings, Inc. (NYSE: ZMH) today formally launched the Zimmer Institute with a meeting of surgeon advisers and government and business officials. The Institute is a key part of Zimmer's industry-leading program to bring the benefits of minimally invasive surgery to joint replacement patients.
"The opening of the Zimmer Institute is a real milestone in the continuing evolution of our four-year old MIS program," said Ray Elliott, Zimmer chairman, president and chief executive officer. "The Institute will support our goal of making the patient benefits of MIS joint replacement broadly available, and it greatly expands the training effort and skills transfer."
The goals of minimally invasive joint replacement are to minimize blood loss during surgery, to shorten or nearly eliminate the associated hospital stay, to minimize the pain involved in rehabilitation, and to significantly shorten the time required for a patient to return to a normal lifestyle.
In early April, the first group of surgeons will be trained at the Institute in Zimmer's Minimally Invasive Solutions(TM) (MIS(TM)) Procedures and Technologies. The company expects to train 500 surgeons worldwide in the Zimmer MIS 2-Incision Hip Replacement procedure by the end of the year. More than 400 MIS 2-Incision hip replacement procedures have been completed since the start of the Zimmer program in April 2001. The MIS 2-Incision procedure allows for reduced postoperative pain, reduced length of hospital stay, and the patients' accelerated return to independent daily living.
The Zimmer Institute is a state-of-the-art surgeon training facility, located at Zimmer's headquarters, that represents the hub of a worldwide network dedicated to advancing Zimmer Minimally Invasive Solutions Procedures and Technologies. The Zimmer Institute will also serve as a home for the company's "O.R. of the Future" initiative and other development efforts that will serve to provide continued innovative ideas.
Zimmer invested approximately $2 million in the design and construction of the 15,000-square foot Zimmer Institute. The company has said that it plans to invest a total of approximately $20 million in its overall MIS development program during 2003.
The Institute offers surgeons the opportunity to learn the surgical procedure in a laboratory environment that closely simulates an operating room. In addition, the Institute employs advanced electronic training equipment and links to satellite facilities. Zimmer is in the process of finalizing agreements with a number of prominent hospitals and teaching institutions that will become part of a worldwide network offering Zimmer Institute courses.
Zimmer has established an Institute advisory panel, made up of prominent orthopaedic surgeons, to help guide the operation and expansion of the Institute's educational efforts. Aaron Rosenberg, M.D., Professor of Orthopaedic Surgery, Rush-Presbyterian-St. Luke's Medical Center, Chicago, chairs the advisory panel. "Because minimally invasive surgery represents a new approach to what is already a very successful procedure, it is important that the transfer of knowledge and skills is just as effective as the design of the procedure and the instruments," Dr. Rosenberg said. "The Zimmer Institute represents a world-class educational effort that will provide surgeons an excellent basis for incorporating minimally invasive joint replacement into their practices."
Other members of the Institute surgeon advisory panel are:
William Bargar, M.D., Sacramento, CA
Louis Bigliani, M.D., New York, NY
Robert Booth, M.D., Philadelphia, PA
Evan Flatow, M.D., New York, NY
Allan Gross, M.D., Toronto, Canada
Jorge Galante, M.D., Chicago, IL
Professor Peter Herberts, Goteborg, Sweden
Carol Hutchison, M.D., San Ramon, CA
Seth Leopold, M.D., Seattle, WA
Wayne Paprosky, M.D., Chicago, IL
Marc Philippon, M.D., Pittsburgh, PA
Professor Gwo-Jaw Wang, Taiwan
Lawrence Webb, M.D., Winston-Salem, NC
Richard White, M.D., Albuquerque, NM
Zimmer is the orthopedic industry leader in developing minimally invasive approaches for joint replacement. More than 20,000 Zimmer M/G(TM) Unicompartmental Knees have been implanted using Zimmer MIS instrumentation. In 2001, the company began working with surgeon developers to establish a standard technique and instruments for the Zimmer MIS 2-Incision procedure. In 2002, the company signed an agreement with leading surgeons to develop an advanced MIS total knee replacement procedure and instruments, and more than 75 procedures have been performed as part of that development process. In addition, the company has an exclusive agreement with Medtronic, Inc., to incorporate surgical navigation technology into minimally invasive joint replacement procedures. The company said it is developing for future release implant products that are specifically designed to facilitate minimally invasive approaches. The implant systems used in today's MIS procedures are the same proven implants used in conventional procedures.
Zimmer, based in Warsaw, Indiana, is a global leader in the design, development, manufacture and marketing of reconstructive orthopaedic implants and trauma products. Orthopaedic reconstruction implants restore joint function lost due to disease or trauma in joints such as knees, hips, shoulders and elbows. Trauma products are devices used primarily to reattach or stabilize damaged bone and tissue to support the body's natural healing process. Zimmer also manufactures and markets other products related to orthopaedic and general surgery. For the year 2002, Zimmer recorded worldwide revenues of approximately $1.4 billion. Zimmer was founded in 1927 and has more than 3,600 employees worldwide.
Visit Zimmer on the worldwide web at www.zimmer.com
This press release contains forward-looking statements based on current expectations, estimates, forecasts and projections about the orthopaedics industry, management's beliefs and assumptions made by management. Forward- looking statements may be identified by the use of forward-looking terms such as "may," "will," "expects," "believes," "anticipates," "plans," "estimates," "projects," "targets," "forecasts," and "seeks" or the negative of such terms or other variations on such terms or comparable terminology. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that could cause actual outcomes and results to differ materially. These risks and uncertainties include, but are not limited to, price and product competition, rapid technological development, demographic changes, dependence on new product development, the mix of our products and services, supply and prices of raw materials and products, customer demand for our products and services, our ability to successfully integrate acquired companies, control of costs and expenses, our ability to form and implement alliances, international growth, U.S. and foreign government regulation, product liability and intellectual property litigation losses, reimbursement levels from third-party payors, general industry and market conditions and growth rates and general domestic and international economic conditions including interest rate and currency exchange rate fluctuations. For a further list and description of such risks and uncertainties, see the reports filed by Zimmer with the Securities and Exchange Commission. Zimmer disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Zimmer Holdings, Inc.
Media, Brad Bishop, Public Affairs, +1-574-372-4291, or
[email protected], or Investors, Sam Leno, Chief Financial Officer,
+1-574-372-4790, or [email protected], both of Zimmer Holdings, Inc.
http://www.zimmer.com
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