HUNTLEY, Ill.–(BUSINESS WIRE)–Life Spine, Inc., a medical device manufacturer dedicated to improving the quality of life for spinal patients, has recently become aware of a series of allegations made in a civil complaint filed by the U.S. Attorney’s Office in the Southern District of New York. The parties are engaged in discussions and look forward to resolving the matter.
Life Spine is the recipient of numerous innovation awards from industry, and the Company has developed and been awarded more than two hundred patent positions encapsulating its product portfolio and surgical techniques. Since Life Spine’s inception in 2004, the Company has released hundreds of new products, which have positively impacted the lives of tens of thousands of patients worldwide.
Within recent years, Life Spine has experienced significant growth, as measured by a 39% compounded annual growth rate (CAGR), by developing and patenting a host of novel Micro Invasive Surgical procedures, specifically focusing on expandable implant technologies. The Micro Invasive technologies are focused on saving procedural time, reducing healthcare costs and accelerating patient recovery. Clinical studies that are underway intend to show that the Micro Invasive Surgical technique reduces procedural time by as much as 60% versus a traditional TLIF approach.
Life Spine has more than seventy-five employees and has a robust approach to corporate governance, ethics and compliance, including both in-house and outside counsel.
Mr. Omar Faruqi
Chief Financial Officer
SOURCE: Business Wire, 25th July 2019