Medtronic, Inc. (NYSE: MDT) today announced it has entered into a distribution and development agreement with Axon Systems, a privately-held developer of neuromonitoring technology used during spinal surgery. The agreement will allow Medtronic and Axon Systems to bring to market the next generation of surgeon directed and professionally supported spinal neuromonitoring technology and expand the availability of this critical technology.This agreement will have an immediate impact on Medtronic’s spinal neuromonitoring product line and sets the stage for possible integration across all of Medtronic's core spinal therapy offerings.
The first new products enabled by this strategic alliance will be the NIM-ECLIPSE™ Spinal System of neuromonitoring capital and disposable equipment. NIM-ECLIPSE received 510k clearance in the U.S. in May 2006. This equipment will allow for as many as 32 channels of simultaneous electroencephalography (EEG), evoked potentials (EP) and electromyography (EMG) monitoring. NIM-ECLIPSE™ Spinal System also provides for automatic pedicle screw monitoring with direct nerve and screw stimulation. During spinal surgery, the NIM-Eclipse may allow physicians to monitor critical neural pathways which helps prevent post-operative neurological deficits.
“We are extremely excited about our relationship with Axon Systems and the opportunity to improve the availability of intraoperative spinal neuromonitoring service and technology,” said Pete Wehrly, senior vice president and president of the Spinal and Biologics businesses at Medtronic. “Axon Systems has been a neuromonitoring technology innovator and leader since 1987 and our partnership will enable us to better integrate neuromonitoring technology into Medtronic’s core spinal therapies.”
“Working with Medtronic is a wonderful opportunity for us to improve our abilities of how best to deliver and integrate neuromonitoring technology and techniques into surgical procedures that place the spinal nervous system at risk,” said Howard Bailin, founder and COO of Axon Systems.
About the Spinal and Biologics Business at Medtronic
The Spinal and Biologics business, based in Memphis, Tenn., is the global leader in today’s spine market and is committed to advancing the treatment of spinal conditions. Medtronic collaborates with world-renowned surgeons, researchers and innovative partners to offer state-of-the-art therapies for spinal, neurological, orthopaedic and oral maxillofacial conditions. Medtronic is committed to developing affordable, minimally invasive procedures that provide lifestyle friendly surgical therapies. More information about the company and its spinal treatments can be found at http://www.medtronicspinal.com/ and its patient-education Web sites, http://www.back.com/ , http://www.iscoliosis.com/ , http://www.maturespine.com/ and http://www.necksurgery.com/.
About Medtronic
Medtronic, Inc. (http://www.medtronic.com/), headquartered in Minneapolis, is the global leader in medical technology – alleviating pain, restoring health, and extending life for millions of people around the world.
About Axon Systems
Axon Systems, founded in 1987, is a leading manufacturer of neurological intraoperative (NIOM) and intensive care monitors. Its products are used in operating rooms to monitor critical neural pathways during surgery, aiding surgeons and helping to prevent post-operative neurological deficits. In the intensive care unit Axon products are used for diagnostic long-term monitoring and to provide prognostic information and guiding patient care. More information about the company and its products can be found at http://www.axonsystems.com/
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