UK Orthopaedic company Corin Group PLC, has reportedly reached an agreement with LARS SA, the manufacturer of the LARS ligament products which Corin distributes in the UK and Australia, to extend this distribution agreement by three years until December 2016.
In what’s seen as being a feather in the cap of the UK outfit, it has also obtained exclusive distribution rights to the LARS ligament range in several additional countries, the most significant of which is the USA where it will seek to obtain regulatory approval with a 510(k) submission for various extra-articular LARS ligament iterations.
As previously reported, the Prosthesis List Advisory Committee (PLAC), the relevant reimbursement body in Australia, is conducting a review of all artificial ligaments included in their list of reimbursed products for private health insured cases, including LARS ligaments. While this review has not concluded, Corin has been advised that the review has decided not to alter the reimbursement of LARS ligaments in Australia for at least the next six monthly reimbursement cycle, which runs until February 2013.
Peter Huntley, Corin’s Chief Executive, commented, “We are delighted to have extended our agreement with LARS and also to have obtained distribution rights in the USA – by some distance the world’s largest potential market for devices of this type.”
Source: Corin Group PLC, Reuters