LONDON, May 5, 2020 /PRNewswire/ -- Smith+Nephew (LSE: SN, NYSE: SNN), the global medical technology business, today announces an agreement with Fiagon – a technology leader in electromagnetic surgical navigation solutions – to distribute its ENT portfolio in the Asia Pacific region. This agreement covers China, India subcontinent, Australia, New Zealand, and ASEAN markets.
Fiagon's portfolio of image guidance products is for use in complex sinus procedures, including functional endoscopic sinus surgery (FESS), and skull base surgeries, including lateral skull base and inner ear. They address opportunities within Smith+Nephew's ENT portfolio and may be seamlessly integrated into the surgical practice of customers who already use our COBLATION™ technology.
Fiagon's flagship technology, Virtu4D, uses electromagnetic technology to navigate with reference to a CT or MRI image during surgery with submillimetre accuracy. The system has a small footprint and fits in a standard endoscopy tower – critical in crowded operating rooms.
The ENT portfolio also includes next-generation navigation software and flexible and disposable instruments that can bend without losing trackability.
"This distribution agreement between Smith+Nephew and Fiagon complements our core business and allows us to leverage our commercial infrastructure," explained Myra Eskes, President of APAC for Smith+Nephew. "It provides access to world-class navigation technology – enabling Smith+Nephew to better service our customers where a true need exists."
"The agreement with Fiagon slots perfectly into Smith+Nephew's global growth strategy - expanding our ENT portfolio from both a technology and geographic perspective," said Meghan Mavity, Vice President and General Manager, ENT for Smith+Nephew.
The sinus market is one of the fastest growing ENT segments in APAC with a CAGR of 9% and approx. 600,000 procedures performed annually.1
Data used in sinus market growth and number of procedures generated by Smith+Nephew are based on publicly available sources and internal analysis of data for the representative markets we participate in.
Smith+Nephew is a portfolio medical technology business that exists to restore people's bodies and their self-belief by using technology to take the limits off living. We call this purpose 'Life Unlimited'. Our 17,500+ employees deliver this mission every day, making a difference to patients' lives through the excellence of our product portfolio, and the invention and application of new technologies across our three global franchises of Orthopaedics, Advanced Wound Management, and Sports Medicine & ENT.
Founded in Hull, UK, in 1856, we now operate in more than 100 countries and generated annual sales of $5.1 billion in 2019. Smith+Nephew is a constituent of the FTSE100 (LSE:SN, NYSE:SNN). The terms 'Group' and 'Smith+Nephew' are used to refer to Smith & Nephew plc and its consolidated subsidiaries unless the context requires otherwise.
Fiagon is an electromagnetic based surgical navigation company that seeks to improve patient outcomes by enabling physicians with easy-to-use, integrated navigation solutions. Fiagon develops and manufactures innovative surgical navigation systems of the latest generation with its proprietary tip-tracked technology. We pursue innovation by centering our development process around the physician, delivering navigation solutions that allow seamless, unobtrusive integration into their surgical environment. We at Fiagon pride ourselves in our revolutionary approach to surgical navigation, providing physician and patient value simultaneously. This unique technology is already been used in oral and maxillofacial surgery, neurosurgery and spine surgery, outside the US, mainly in Europe and Asia.
This document may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected revenue growth and trading margins, market trends and our product pipeline are forward-looking statements. Phrases such as "aim", "plan", "intend", "anticipate", "well-placed", "believe", "estimate", "expect", "target", "consider" and similar expressions are generally intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. For Smith+Nephew, these factors include: economic and financial conditions in the markets we serve, especially those affecting health care providers, payers and customers; price levels for established and innovative medical devices; developments in medical technology; regulatory approvals, reimbursement decisions or other government actions; product defects or recalls or other problems with quality management systems or failure to comply with related regulations; litigation relating to patent or other claims; legal compliance risks and related investigative, remedial or enforcement actions; disruption to our supply chain or operations or those of our suppliers; competition for qualified personnel; strategic actions, including acquisitions and dispositions, our success in performing due diligence, valuing and integrating acquired businesses; disruption that may result from transactions or other changes we make in our business plans or organisation to adapt to market developments; and numerous other matters that affect us or our markets, including those of a political, economic, business, competitive or reputational nature. Please refer to the documents that Smith+Nephew has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Smith+Nephew's most recent annual report on Form 20-F, for a discussion of certain of these factors. Any forward-looking statement is based on information available to Smith+Nephew as of the date of the statement. All written or oral forward-looking statements attributable to Smith+Nephew are qualified by this caution. Smith+Nephew does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances or in Smith+Nephew's expectations.
™ Trademark of Smith+Nephew. Certain marks registered US Patent and Trademark Office.
SOURCE Smith & Nephew plc