Conformis

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Conformis
Public Company
IndustryMedical Device
Founded2004; 17 years ago (2004)
FounderDr. Phillipp Lang
HeadquartersBillerica,
Massachusetts
Key people
Mark A. Augusti, President and CEO
ProductsMedical Devices, Orthopedics
Websitewww.conformis.com

Conformis, Inc., branded as Conformis, is a global medical device company, publicly traded on the NASDAQ (NASDAQ: CFMS).[1] Founded in 2004 by Dr. Phillipp Lang, Conformis primarily designs and manufactures patient-specific knee and hip replacement implants for orthopaedic patients.[2] The implants are used by surgeons to treat osteoarthritis.[3]

Headquartered in Billerica, Massachusetts, Conformis uses its proprietary iFit Image-to-Implant technology to manufacture and sell patient-specific implants and instruments. Conformis is best known for developing individualized prostheses, and offers related services for the orthopaedic medical industry.[4] The company’s technology has been implanted in more than 100,000 patients and continues to make notable advancements for the medical field. In the United States and internationally, Conformis' products are sold directly to doctors, hospitals, and other healthcare facilities.[5][6]

Conformis technology is designed for a minimally invasive procedure that is unique for every patient by incorporating imaging technology in both the design and surgical planning processes.[7][8] The company has also received several awards for its innovative products.[9]

History

The founder of Conformis, Dr. Phillip Lang, is a graduate of UCLA and a professor at Harvard Medical School. He is a radiologist with extensive experience of more than 20 years in the medical device industry.

Dr. Phillip Lang founded Conformis in 2004 with the idea to depart from the norm of standardized joint implants to create individualized implants for each patient.[10] Conformis uses patients’ CT scans to design their implants.[11] 3D printers are used to manufacture the jigs (instrumentation) for the surgery.[12] The metal parts of the implants are molded according to the unique anatomical structure of each patient.[13][14]

Conformis introduced its iUni and iDuo products in 2007, iTotal CR in 2011, iTotal PS in 2015, and the Conformis Hip System in 2018.[15] In 2016, the iTotal PS product won the Gold Stevie Award, presented by the American Business Awards (recognizing advances in business products and innovation in technology) in the health and pharmaceuticals category.[16]

Products and services

Conformis designs and manufactures multiple products, with an emphasis on sterile, patient-specific knee and hip implants and single-use instruments that are directly delivered to medical facilities.[17] The implants are used by surgeons to treat osteoarthritis. Conformis utilizes a direct sales force and a network of sales representatives and distributors in the global market. Conformis has a sales presence in the United States, Germany, the United Kingdom, Austria, Ireland, Switzerland, Singapore, Hong Kong, Malaysia, Monaco, Hungary, Spain, Australia, Argentina, Benelux, United Arab Emirates, Italy, and other markets.[18]

Products manufactured by Conformis:

  • iTotal - This line of primary knee replacement implants was designed by Conformis to mitigate common post-surgery complications encountered by patients undergoing a full knee replacement, such as residual pain and functional limitations.[19][20][21][22] iTotal implants are categorized into CR (cruciate-retaining) and PS (posterior-stabilized), both of which are designed individually according to the patient’s anatomy. iTotal was designed for optimal bone preservation, and is delivered directly to medical facilities with patient-specific instrumentation in a pre-sterilized kit[23][24]
  • Hip System - This system was introduced in 2018. It is designed using 3D imaging technology to reflect each patient’s unique hip anatomy.[25]
  • iUni & iDuo - These two partial knee implant products were designed for the patients suffering from partial osteoarthritis.[26] The patient-specific design of these products ensures that only the affected part of the knee is replaced.[27]
  • iJig instrumentation – The pre-sterilized kit designed delivered to surgeons contains all the instruments required for an implant surgery. The instruments are designed and 3D-printed using the CT scan data of each patient, and then delivered to medical facilities for one-time use.[28][29]

Funding

Conformis has raised a total of $438.3 million in 11 rounds. 14 investors have provided funds to this company, of which 6 were the lead investors: East West Bank, Innovatus Capital Partners, Oxford Finance LLC, Agc Equity Partners, Axel Johnson and Aries Capital.[30]

Awards

Conformis has received several awards, including:

  • American Technology Award for iTotal in 2016
  • Gold Stevie Award for iTotal PS in 2016
  • Camstar Manufacturing Star Award 2013 Exclusive Winner
  • MEDA Silver Award for iTotal in 2012
  • Red Herring North America 100 Award in 2008
  • North American Frost & Sullivan Award for Medical Device Healthcare Innovation in 2008

In the media

References

  1. "We Have Personalized Medicine, So Why Not Personalized Medical Devices? Enter Conformis' Artificial Hip". Xtalks. 2018-09-06. Retrieved 2020-08-24.
  2. "The Knee Hip and Shoulder Center". The Knee Hip and Shoulder Center. Retrieved 2020-08-24.
  3. "Custom Knee Replacements Are a Natural Fit". www.summitmedicalgroup.com. Retrieved 2020-08-24.
  4. "Wilmington plant customizing knee-replacement process". Lowell Sun. 2015-08-28. Retrieved 2020-08-24.
  5. "Knees: Off-the-Shelf vs. Customized Implants | Orthopedics This Week". ryortho.com. Retrieved 2020-08-24.
  6. Renken, Leslie. "Innovations in knee replacement surgery are creating happier customers". Journal Star. Retrieved 2020-08-25.
  7. "Customized 3D Printed Implants from ConforMIS Make Knee Replacements Easy". 3DR HOLDINGS.
  8. "3D relief: Arlington man among the first to receive custom knee implants". STAR TELEGRAM.
  9. "Aetna's Denial of ConforMIS Implants Results in Suit | Orthopedics This Week". ryortho.com. Retrieved 2020-08-25.
  10. "Custom Total Knee Replacement". www.ktvn.com. Retrieved 2020-08-24.
  11. [email protected], MICHELLE KARAS. "Customized knee replacements get Colorado Springs basketball refs back on the court". Colorado Springs Gazette. Retrieved 2020-08-24.
  12. "KNEES OFF THE-SHELF VS CUSTOMIZED IMPLANTS".
  13. Giddens, Tharon (2016-09-15). "For Joint Replacements, the Future Is Now". richmondmagazine.com. Retrieved 2020-08-24.
  14. "Bedford Company Using 3D Printer To Make Customized Knee Implants". CBS Boston. 2014-10-17. Retrieved 2020-08-25.
  15. "Artificial Knees Made to Order". MIT Technology Review. Retrieved 2020-08-24.
  16. Viviano, JoAnne. "Patients get kick out of custom-made knee replacements". Akron Beacon Journal. Retrieved 2020-08-25.
  17. "ConforMIS 3D Technology Improves TKA | Orthopedics This Week". ryortho.com. Retrieved 2020-08-24.
  18. Staff, Robert Weisman Globe; April 2; 2018; Comments, 9:22 a m Email to a Friend Share on Facebook Share on TwitterPrint this Article View. "Boomers are going bionic, and they want joint replacements to let them do it all - The Boston Globe". BostonGlobe.com. Retrieved 2020-08-25.
  19. ZUMER, BRYNA. "Harford surgeon uses 3D technology for knee replacement". baltimoresun.com. Retrieved 2020-08-25.
  20. "3D printing enables customized knee replacement surgery". New Atlas. 2014-10-20. Retrieved 2020-08-25.
  21. "Is Robo-Doc the Future of Knee Replacement Surgery?". Southwest Health. Retrieved 2020-08-25.
  22. Viviano, JoAnne. "Patients can now get custom-made knee replacements". The Columbus Dispatch. Retrieved 2020-08-24.
  23. "Florida Surgeons perform hip replacement using Conformis 3D printed implants". 3D Printing Industry. 2018-08-07. Retrieved 2020-08-24.
  24. Picard, Ken. "A Vermont Surgeon Implants Custom 3D Knees". Seven Days. Retrieved 2020-08-25.
  25. "Customized 3D Hip Replacement Surgeries are Successful". Medical Design and Outsourcing. 2018-08-31. Retrieved 2020-08-25.
  26. says, Paul Stevens (2007-11-21). "Xconomy: ConforMIS is Reaching for a Big Piece of the Knee-Surgery Market by Taking Smaller Pieces of Bone". Xconomy. Retrieved 2020-08-25.
  27. Root, Kim O'Brien (2017-11-06). "Advanced 3D Knee Technology from ConforMIS Brings Better Outcomes". Health Journal. Retrieved 2020-08-24.
  28. Wood, Megan. "Dr. Gary Levengood finds positive outcomes in ConforMIS' iTotal CR Knee Replacement System study — 4 observations". www.beckersspine.com. Retrieved 2020-08-25.
  29. Hill, David J. (2011-02-23). "Becoming Cybernetic: 3D Custom-Fit Knee Implants from ConforMIS". Singularity Hub. Retrieved 2020-08-25.
  30. "Zimmer Biomet to pay Conformis $9.6m to settle patent disputes". MassDevice. 2020-05-28. Retrieved 2020-08-25.

External links