16.06.2006 14:02:00
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Innovative Neurotronics Selected as One of '50 Companies to Watch'
BETHESDA, Md., June 16 /PRNewswire-FirstCall/ -- Innovative Neurotronics, Inc. (IN, Inc.) has been selected as one of "50 Companies to Watch" by Medical Device and Diagnostic Industry magazine (MD&DI). The article appears as this month's cover story and is available at: http://www.devicelink.com/mddi/archive/06/06/002.html.
"We selected 50 companies on the basis of their contributions to the medical device and healthcare industries," said John Bethune, vice president and editorial director for Canon Communications LLC, the publisher of MD&DI. "The companies reflect outstanding achievements behind today's medical technology."
The medical device industry is well known for its technology, a central aspect that MD&DI covers in every issue. The June issue marks the first time MD&DI examines 50 companies that embody the regulatory, technological, and business know-how to be successful.
"We are honored to be included in a list with so many prestigious, established organizations," IN, Inc. President Jeff Martin said. "Innovative Neurotronics was founded to fulfill an unmet need -- the restoration of function in those with an impaired limb. Before we developed Myo-Orthotics Technology, the main option for a patient with an impaired limb was simply to stabilize that limb, but we knew more could be done. And so we developed a medical device that actually empowers the patient."
Cleared for marketing by the FDA in September 2005 and officially launched on May 1, 2006, IN, Inc.'s first product, the WalkAide(R) System, combats a form of paralysis known as "foot drop" due to stroke, spinal cord injury, traumatic brain injury, and other pathologies such as multiple sclerosis and cerebral palsy.
The WalkAide System, which includes diagnosis, treatment modalities, and delivery of an electrical stimulation device by a trained medical practitioner, treats foot drop by applying low level electrical currents directly to a motor nerve in the leg which instructs the muscle to flex the foot so the patient can walk normally. Contrary to traditional therapies that require the patient to spend hours in hospitals or rehabilitation facilities, the portable WalkAide also has an exercise mode that allows the patient to conduct muscle therapy at home. Worn around the leg, just below the knee, the AA battery-operated device is about the size of a deck of cards.
Currently available nationwide to patients through certified orthotists at Hanger Prosthetics and Orthotics, IN, Inc. plans to expand availability of the WalkAide through other rehabilitation specialists later this year.
About Innovative Neurotronics, Inc.: Specializing in the field of functional electrical stimulation, Innovative Neurotronics, Inc. identifies emerging Myo-Orthotics Technologies(TM) developed at research centers and universities throughout the world that use neuromuscular stimulation to improve the functionality of an impaired limb. Innovative Neurotronics, Inc. is a wholly owned subsidiary of Hanger Orthopedic Group, Inc. , the world's largest provider of orthotic and prosthetic (O&P) patient care. Headquartered in Bethesda, Maryland, Hanger owns and operates 621 patient care centers in 46 states including the District of Columbia, with 3,313 employees including 1,032 practitioners (as of 3/31/06). For more information on Innovative Neurotronics, Inc., visit http://www.ininc.us/. For more information on Hanger, visit http://www.hanger.com/.
Certain statements included in this press release are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Please refer to the Company's SEC filings for factors that could cause actual results to differ materially from the Company's expectations.
CONTACT: Jennifer Bittner of Hanger Orthopedic Group, Inc., +1-301-280-4869, jbittner@hanger.com.
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