TOKYO and MEMPHIS, Tenn., Sept. 3 Smith &Nephew, Inc. (NYSE: SNN, LSE: SN) Orthopaedic Reconstruction & Trauma businessand Smith & Nephew Orthopaedics KK Japan today announced that it has receivedJapanese regulatory C1 Category Reimbursement approval for it's award winningOXINIUM(TM) oxidized zirconium technology. Smith & Nephew's Genesis IIOXINIUM(TM) Total Knee System is the first orthopaedic product to gain the C1Category reimbursement in Japan, the world's second largest orthopaedic marketafter the US. The C1 classification rewards innovative products with a higherreimbursement price and is reserved for those products where the advantagesare recognized by the MHLW over other available products.
Smith & Nephew's Orthopaedics KK Japan first received regulatory approvalfor the Genesis II OXINIUM(TM) Total Knee System in Japan on February 18,2008. Smith & Nephew is the only orthopaedic company to offer OXINIUM(TM), therevolutionary and award winning joint replacement material.
OXINIUM(TM) is a proprietary transformed metal alloy with a ceramicbearing surface that combines low friction and wear resistance technology withthe strength of a metal implant. It is this ceramic surface that givesOxinium its advantages over CoCr implants. Because only the surface ischanged, the rest of the component is still metal and therefore the implantretains its overall strength. Currently Oxinium material is used for totalhip and total knee joint replacements. This material is the only orthopaedicimplant material to receive the ASM International Engineering Materials Awardfor outstanding achievement of a material used in the design and manufactureof products.
"Getting the GENESIS II Knee System with the OXINIUM Technology approvedin Japan is a great opportunity for Smith & Nephew Orthopaedics KK Japan tooffer a new state-of-the-art material to the Japanese patients and thesurgeons who perform these procedures," said Joseph M. DeVivo, president,Smith &Nephew Orthopaedic Reconstruction and Trauma. "We are pleased that theMHLW understood the benefits of Oxinium and we are also pleased by the MHLW'sC1 Category reimbursement, which recognizes the importance in making thesetypes of new products available to the Japanese patient."
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Smith & Nephew is a global medical technology business, specializing inOrthopaedic Reconstruction, Orthopaedic Trauma & Clinical Therapies, Endoscopyand Advanced Wound Management products. Smith & Nephew is a global leader inarthroscopy and advanced wound management and is one of the leading globalorthopaedics companies.
Smith & Nephew is dedicated to helping improve people's lives. TheCompany prides itself on the strength of its relationships with its surgeonsand professional healthcare customers, with whom its name is synonymous withhigh standards of performance, innovation and trust. The company operates in32 countries around the world generating annual sales of nearly $3.4 billion.
This press release contains certain "forward-looking statements" withinthe meaning of the US Private Securities Litigation Reform Act of 1995. Inparticular, statements regarding planned growth in our business and in ourtrading margins discussed under "Outlook" are forward-looking statements asare discussions of our product pipeline. These statements, as well as thephrases "aim", "plan", "intend", "anticipate", "well-placed", "believe","estimate", "expect", "target", "consider" and similar expressions, aregenerally intended to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and otherimportant factors (including, but not limited to, the outcome of litigationand regulatory approvals) that could cause the actual results, performance orachiev