OR-AKIVA, Israel, June 16, 2014 /PRNewswire/ --
Expanding Orthopedics Inc. (EOI), a privately held medical device company focused on developing and commercializing innovative expandable devices for spine surgery, is pleased to announce the grant of a Chinese patent for its XPED™ System, the unique expandable pedicle screw and related instrumentation.
Dr. Mark Levy, an orthopedic surgeon, Founder and CTO of Expanding Orthopedics, said that "I am very proud of this achievement as this rewards our extensive research and development efforts and confirms the uniqueness of the XPED System and the innovation brought by our team to the medical community." Dr. Levy added, "This is the sixth granted Chinese patent for our extensive expanding devices platform, which demonstrates our focus and commitment to this market for several years now."
Mr. Ofer Bokobza, CEO of Expanding Orthopedics said that "The Chinese market is one of the fastest growing markets in the world with large concentration of the ageing population (over 65) which is expected to reach 25% of population by the year 2050." "EOI is setting itself for the Chinese market by designing and delivering innovative products at an affordable price, to access both the higher and lower ends Chinese healthcare markets," said Bokobza. "We intend to execute this strategy, starting with the XPED™ expandable pedicle screw technology platform, which addresses the growing need of the ageing population for enhanced anchoring solutions in low bone quality. Other innovative products from our rich IP portfolio, such as the FLXfit, our unique expandable cage, will follow, fulfilling our vision of providing novel solutions to improve spinal health".
About Expanding Orthopedics Inc.
Expanding Orthopedics Inc. is a venture backed, medical device company developing and marketing innovative products designed to address unmet clinical needs for spine care and improve long-term patients' outcome. The Company is spearheaded by seasoned management team with proven industry experience, and is backed by prominent spine surgeons from the US and Europe. EOI owns a broad patent portfolio around anatomically fit, expandable devices for enhanced stability and fixation through a low profile, minimally invasive approach.
David Elkaim, VP Marketing and Sales
SOURCE Expanding Orthopedics Inc.