MEDIPHYSICS NOMINATED FOR MD&DI'S "TOP COMPANIES TO WATCH" LIST
Orange County start-up recognized for its promising pain treatment technology
Lake Forest, CA - April 2, 2006 - MediPhysics Pain Centers of America, Inc. (MediPhysics) has been nominated for Medical Device & Diagnostic Industry (MD&DI) Magazine's annual "Top 50 Companies to Watch" issue. MD&DI is the leading trade publication of the medical device industry and seeks to recognize "companies that are notable in some way or another, whether through market success, technological breakthroughs, outstanding contributions to healthcare, [or] cutting-edge business strategies."
MediPhysics' initial product, the MediPhysics Pain Treatment System (MPTS) is a non-invasive, drug-free, device that has been shown to be effective in the treatment of acute, chronic, and post-surgical pain. Chronic pain has reached epidemic portions worldwide and is perceived by both the United States Surgeon General and Congress as one of America's most immediate healthcare challenges. The MPTS provides physicians with a remarkably effective new tool in the fight against pain and an attractive option beyond the traditional pharmaceutical and surgical approaches. The MPTS has been cleared by the FDA and is projected to launch in late 2006.
According to Larry Steudle, CEO of MediPhysics, "It's gratifying to be nominated for recognition by a publications like MD&DI. Our device has the potential to be life-changing for many people and to improve the lives of millions of pain sufferers."
According to the National Institute of Health, chronic pain costs the American public $100 billion per year in medical expenses, lost wages, and other costs. The total US market for medical devices was $57.6 Billion in 2003 (Frost & Sullivan) and the market for pain-specific drugs and devices is currently in excess of $25 Billion (The US Market for Pain Management Drugs and Devices - Karloma). MediPhysics is a privately held medical technology company based in Lake Forest, California that is committed to the future of medical physics and the development of proprietary medical technologies to be used in the treatment of acute, chronic and post-surgical pain. For mote detailed information see www.mediphysics.org.