Medovex Corporation Comments on President Trump Declaring the Opioid Crisis a National Public Health Emergency
Company Applauds Initiative to Find Alternative to Highly Addictive Pain Killers Most Commonly Prescribed for Chronic Back Pain
ATLANTA, GA -- (Marketwired) -- 10/27/17 --
Medovex Corp. (NASDAQ: MDVX) ("Medovex" or the "Company"), the developer of the DenerveX® System, a new and novel device designed for enduring relief of Facet Joint Syndrome related to chronic back pain, a non-additive opioid drug alternative capable of restoring a patient to a more normal and active lifestyle, today commented on President Trump declaring the opioid crisis and national public health emergency.
Two months after President Trump suggested, "the opioid crisis is an emergency," the President formally declared it a national public health emergency. The announcement came from White House where Trump called the epidemic a "national shame" and "human tragedy."
Jarrett Gorlin, Medovex Chief Executive Officer, stated, "President Trump's announcement is a positive step towards finding alternatives to these powerful and highly addictive opioid class painkillers, often prescribed for chronic back pain, and commonly cited as fanning the flames of the nation's opioid epidemic. One of the benefits of our DenerveX System is that it represents a non-opiate or non-pharmacological derived pain-relief system. We have a device that comes in earlier in the continuum of care and provides pain relief before they are ever prescribed an opiate."
National Center for Health Statistics estimate drug overdoses due to opioid use increased 21% in 2016; 64,070 Americans died as a result of opioid use in the last year. On the campaign trail, President Trump talked about combating opioid addiction.
DenerveX System was designed by medical professionals, for medical professionals to enhance a patient's quality of life. The agony of pain associated with Facet Joint Syndrome can be life-altering, robbing people of even the simplest joys of daily life like bending over to hug a grandchild, taking a walk or gardening. The DenerveX System involves a simple, minimally invasive, "keyhole" procedure that is designed to bring faster, longer-lasting relief.
Patrick Kullmann, President and COO, stated, "A recent survey states that when people go to see their doctor with chronic lower back pain symptoms, the treatment recommended was to prescribe painkillers 40% of the time. That includes opioids, which are over prescribed and have fueled the nation's epidemic of opioid dependence, addiction and overdose. The DenerveX System has great potential in reducing this threat."
The DenerveX System is a highly differentiated technology. It denervates and removes capsular tissue from the Facet Joint in one single procedure. Treatment results from the combined effect of a deburring or polishing action and RF ablation treatment on the Facet Joint. Using this new technique, the slowly rotating burr removes the targeted facet joint synovial membrane and joint surface while the heat ablation destroys tissue and denudes any residual nervous and synovial membrane overlying the joint, removing the end point sensory tissue of the joint.
Facet Joint Syndrome (FJS), also known as spinal osteoarthritis, spinal arthritis, or facet joint osteoarthritis, is a significant health and economic problem in the United States and other countries in the EU and Rest of World affecting millions each year. Current treatment options are generally temporary and there is no proven long-lasting option for FJS.
The DenerveX System consists of the DenerveX Kit which contains the DenerveX Device, a single use medical device and the DenerveX Pro-40 Power Generator. DenerveX system is CE marked and for sale in countries outside the US accepting the CE mark, but is not yet FDA cleared.
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Medovex was formed to acquire and develop a diversified portfolio of potentially ground breaking medical technology products. Criteria for selection include those products with potential for significant improvement in the quality of patient care combined with cost effectiveness. The Company's first pipeline product, the DenerveX device, is intended to provide long lasting relief from pain associated with facet joint syndrome at significantly less cost than currently available options. To learn more about Medovex Corp., visit www.medovex.com
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
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Source: Medovex Corporation