Positive Signs for Further Growth in Asia: Syntellix Receives Product Approvals in Malaysia and Myanmar Earlier than Planned
HANNOVER, Germany, Feb. 24, 2020 /PRNewswire/ -- Syntellix AG, the world's leading supplier of highly innovative magnesium implants for orthopaedics and trauma surgery, has achieved important milestones for the further development of the high-potential Asian market. It has announced that it has received approval from the Medical Device Authority in Malaysia for its patented MAGNEZIX® StarFuse® arthrodesis implant and the new larger version of its successful MAGNEZIX® CS compression screw, the CS(c) 4.8. Together with the smaller CS variants, the MAGNEZIX® Pins and the MAGNEZIX® CBS cortical screw, which have already received approval, the Hanover-based biomedical engineering and material & life science company now has a fully approved product portfolio in a further country in Southeast Asia.
In Myanmar, Syntellix has received initial approval from the Ministry of Health and Sports for the planned basic product range comprising MAGNEZIX® CS and CBS. The country with over 55 million inhabitants has undergone extremely positive economic development following the political reforms and the opening up of the economy in 2011. Its economy is growing at an average rate of 6-8% p.a., GDP per capita has risen by almost 59% during the same period, and in terms of aspects such as life expectancy and density of care its healthcare system is making great strides towards catching up with the rest of the world. During a plenary lecture given by Syntellix chairman Prof. Dr. Utz Claassen at the 51(st )Annual Scientific Meeting of the Myanmar Orthopaedic Society in Yangon in November 2019, it was evident that scientists and practitioners in the field of orthopaedic and trauma surgery were extremely interested in the revolutionary bioabsorbable material developed by Syntellix that would benefit patients in Myanmar. Its use was seen as a great opportunity for the health care system there.
Asian countries have consistently shown that they are very open-minded and highly interested in medical innovations as a basis for excellent and efficient healthcare. With their high growth rates in terms of population and the economy, the rapidly emerging markets are increasingly relying on new and sustainable forward-looking technologies, also in their healthcare systems, to improve quality of life, reduce the perceived gap between them and the established industrialised nations, and become self-sufficient. Such an environment, which is particularly conducive to progress, favours the growth potential of the trendsetting MAGNEZIX® material, because the magnesium-based material and the implants manufactured from it set new standards in patient safety. According to the WHO, hundreds of millions of patients worldwide are affected by surgery and care-related infections every year. The use of MAGNEZIX® implants eliminates the need to remove material, because although they are metallic and correspondingly stable, they decompose and are converted to bone tissue by the body, which means no foreign material remains in the body. This completely eliminates the risk of infection during an otherwise necessary second operation and the corresponding inpatient hospital stay. According to the experience reported, magnesium also stimulates bone growth in an osteoconductive manner, has an infection-inhibiting effect and has a particularly good tolerability. MAGNEZIX® implants therefore make a substantial contribution to patient safety.
The most recent approvals mean that Syntellix now has MAGNEZIX® product approvals in a total of 65 countries worldwide - for the treatment of malpositions, fractures and cartilage-bone defects using the most advanced magnesium implants in orthopaedic, trauma, paediatric and sports surgery.
About Syntellix:
Syntellix AG based in Hanover, Germany, is an international company engaged in biomedical engineering and material & life science that is undergoing dynamic organic growth. The company specialises in the research, development and marketing/sales of highly innovative transformable metallic implants. These are broken down by the body and transformed into autologous bone tissue and in doing so offer an ideal combination of stability, elasticity and bioabsorbability. In recent medical-scientific publications concerning various clinical applications, MAGNEZIX® implants are rated as "being advantageous" or even "clinically superior" to conventional titanium implants.
Syntellix AG is the world's market and technology leader in the field of bioabsorbable metallic orthopaedic implants and has already been honoured with numerous important awards and prizes, including the Innovation Award of the German Economy 2012/13, the Future Award 2016 of the German Healthcare Economy, the German Medical Award 2017, the STEP Award 2017, the Innovator of the Year 2017 award and the German Innovation Award in Gold (2019); internationally, the implants were a winner in the Product of the Year category of the Sustainability Award 2018 program.
Syntellix AG
Aegidientorplatz 2a
30159 Hannover
Germany
T +49-511-270-413-50
F +49-511-270-413-79
info@syntellix.com
www.syntellix.com
Executive Board
Prof. Dr. rer. pol.
Utz Claassen
Chairman of the Executive Board/CEO
Dr. rer. pol. oec.
Amir S. Ghoreishi
CFO
Prof. Dr. med.
Martin Kirschner
CTO
Chair of the Supervisory Board
Annette Claassen
Registered Office
Hannover
Amtsgericht Hannover
HRB 202618
For further information:
Pierre Frega
press@syntellix.com
Disclaimer:
This press release is a translation and has been issued for information purposes only. Should there be any discrepancy between this translation and the original German text, the latter shall be the legally binding version.
View original content:http://www.prnewswire.com/news-releases/positive-signs-for-further-growth-in-asia-syntellix-receives-product-approvals-in-malaysia-and-myanmar-earlier-than-planned-301009857.html
SOURCE Syntellix AG
