Press Room

Tuesday, September 22, 2009

Applied Spine Technologies Announces New Corporate Headquarters

ROCKY HILL, Conn., Applied Spine Technologies Inc. a medical device company focused on motion preservation of the lumbar spine, announced today their plans to relocate the company to Rocky Hill, Connecticut and close their New Haven office. All employees and contracted support staff will report to the Cold Spring Business Center in Rocky Hill on September 28th.

Company CEO Craig Corrance sees a clear rationale for the move. “Early in the company’s life we had a real need to be in New Haven, more specifically near Yale University where our product evolved from, and we have enjoyed a terrific relationship with Yale developing the technology that ultimately became our Stabilimax System. But the new facility in Rocky Hill will allow us to expand, grow, and reach our objectives, offering us the chance to consolidate our three former separate office spaces into one purpose-fitted unit. This will be significantly more efficient for our team and result in a far more comfortable working environment.”

CFO Terry Brennan adds, “As the company moves closer to the commercialization of the Stabilimax System, it becomes increasingly important to have a building that is fitted to our specifications for product testing, management of surgical instruments and implants, and also be convenient for the growing number of surgeon and industry visitors to our site. Our new location is about a forty minute drive from Hartford’s Bradley International Airport, which makes it very suitable for day visits to Applied Spine.”

About Applied Spine Technologies Inc., and Stabilimax

Applied Spine Technologies Inc., headquartered in Rocky Hill, Connecticut, is developing the Stabilimax Dynamic Spine Stabilization System, a posterior dynamic stabilization device designed to support an injured or degenerated spine without eliminating motion. Stabilimax^® is expected to offer numerous advantages over current spinal fixation products and even new artificial disc products—including a much less invasive and less traumatic implant procedure, maintenance of spine motion and disc function, and the potential to prevent or slow adjacent-segment disc disease.

About the IDE Clinical Trial

Applied Spine Technologies, Inc. is currently conducting a multi-center, randomized, controlled clinical trial in the U.S. to compare posterior dynamic stabilization using the Stabilimax Dynamic Spine Stabilization System to traditional spinal fusion stabilization to treat degenerative lumbar spinal stenosis. AST has enrolled more than 100 patients to date.

Stabilimax is an investigational device in the United States. It is limited by United States (U.S.) Federal Law for investigational use only.

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