HANOVER, Germany, Dec. 8, 2020 /PRNewswire/ -- Internationally renowned and globally leading market research firm Frost & Sullivan presents Syntellix with this year's Best Practices Entrepreneurial Company of the Year Award in the European orthopaedic and trauma implants industry. The title was awarded after a rigorous analytical process that involved multiple nominees, in which Frost & Sullivan's team of growth pipeline experts identified and evaluated best practices across "entrepreneurial innovation" and "customer impact" as main dimensions. According to the detailed analytic report, Frost & Sullivan research has confirmed Syntellix's outstanding performance in many of the criteria examined, underlining its leading position in the orthopaedic and trauma implants space to further disrupt the medical device industry. The report also sets forth that the future of medtech is shaped by three key strategic imperatives: disruptive technologies, innovative business models, and transformative megatrends – dimensions in which Syntellix is performing very well, making the received honour even more valuable.
Strictly reserving this award to companies at the innovation and growth forefront in their industries, Frost & Sullivan Senior Industry Analyst Dr. Bejoy Daniel stated that, "the MAGNEZIX implant's unique capability of converting metal to bone makes it an ideal implant of the future." He emphasized that, "Syntellix's MAGNEZIX implant helps to reduce the spread of HAIs by avoiding unnecessary removal of material and the corresponding risk of infection during a second operation or in-patient stay, making a significant contribution to patient safety - especially important during the COVID-19 pandemic."
The award follows a series of highly successful milestones for Syntellix AG, especially the recent FDA decision to grant Syntellix's MAGNEZIX® CS 3.2 implant and proposed indication for use "Breakthrough Device" designation, as well as the renowned Award of Excellence by the International Magnesium Association (IMA) for the development of its innovative magnesium-based MAGNEZIX® implant portfolio.
Syntellix AG, a global biomaterials pioneer engaged in biomedical engineering, material & life science, is the world's market and technology leader in the field of bioabsorbable metallic orthopaedic implants. The company has been honoured with numerous important awards and prizes, including the Innovation Award of the German Economy, the Future Award of the German Healthcare Economy, the German Medical Award, the Innovator of the Year Award, and the German Innovation Award in Gold. MAGNEZIX® implants were also a winner in the Product of the Year category of the Sustainability Award program. In medical-scientific publications on various clinical applications, they have been rated as "being advantageous" or even "clinically superior" to conventional titanium implants.
This press release is a translation and has been issued for information purposes only. Should there be any discrepancy between this translation and the original German text, the latter shall be the legally binding version.
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