WILMINGTON, Massachusetts, July 1, 2011 /PRNewswire/ --
- Purchase further expands NeuroTherm's reach into the $5 Billion Global Interventional Pain Medicine Market
NeuroTherm® announced today that they have acquired the Parallax and Contour product lines used in interventional spine procedures from ArthroCare (NASDAQ: ARTC). Parallax products have long been the standard for vertebroplasty and Contour has been developed for cavity creation.
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"ArthroCare's Parallax portfolio is a natural fit with NeuroTherm's existing competencies in interventional pain management, allowing us to leverage our clinical expertise and strong sales channels," says Larry Hicks, CEO of NeuroTherm. "This is an exciting opportunity that will enable us to expand our customer base into new markets while offering our existing customers more treatment options for their patients. The Parallax and Contour product lines fit very well within NeuroTherm's platform for the interventional pain and radiology space and is highly complementary to our existing product offering," continues Hicks.
"Consistent with previous acquisitions that have strengthened and diversified our business, we are entering a market aligned with demographic trends and growing medical need," says Chris Boyer, Vice President of Marketing. NeuroTherm actively sells interventional pain products into 63 countries around the world. "Vertebral compression fracture treatment is a market with significant growth and opportunity, and we expect it to be an important part of our continued growth plans," continues Boyer.
NeuroTherm is a leading manufacturer of products used in the field of Interventional Pain, including radio frequency generators and related consumables used in the treatment of chronic pain. The company was awarded a US Patent #7,574,257 in recognition of the first multi-lesion radiofrequency generator on the market. NeuroTherm markets and sells to Interventional Pain, Interventional Radiology, Orthopedic and Foot & Ankle Specialists.
NeuroTherm is based in Wilmington, Massachusetts with corporate offices in London, UK, Germany and Amsterdam, NL. Additional information about NeuroTherm can be found on at http://www.neurotherm.com.