ficant portion of the company’s products are distributed domestically directly to approximately 6,000 hospitals and other healthcare institutions, as well as through medical specialty distributors and surgeons. A significant portion of its U.S. sales are to customers affiliated with group purchasing organizations, IDNs and other large national or regional accounts, as well as to the Veterans Administration and other hospitals operated by the Federal government. The company’s health systems organization is responsible for interacting with large regional and national accounts (group purchasing organizations, IDNs, etc.). The company’s products are sold in approximately 100 foreign countries. The company distributes its products through sales subsidiaries and branches with offices located in Australia, Austria, Belgium, Canada, China, Denmark, Finland, France, Germany, Italy, Korea, the Netherlands, Poland, Spain, Sweden and the United Kingdom, as well as through independent distributors in the remaining countries. Research and Development Amounts expended for company research and development was approximately $25.8 million during 2013. Competition In sports medicine, the company competes with Smith & Nephew, plc; Arthrex, Inc.; Stryker Corporation; ArthroCare Corporation; Johnson & Johnson: DePuy Mitek, Inc.; and Biomet, Inc. In powered instruments, it competes with Stryker Corporation, Medtronic, (Midas Rex and Xomed divisions); Synvasive Technology, Inc.; Synthes, Inc.; MicroAire Surgical Instruments, LLC; and Zimmer Holdings, Inc. In surgical visualization, the company competes with Smith & Nephew, plc; Arthrex, Inc.; Stryker Corporation; Olympus, Inc.; and Karl Storz GmbH. In general surgery product line, the company competes with Covidien Ltd.; Valley Labs; Medline Industries, Inc.; ERBE Elektromedizin GmbH; Megadyne; Johnson & Johnson: Ethicon Endo-Surgery, Inc.; U.S. Surgical; Kendall; 3M Company; Applied Medical Resources Corporation; Boston Scientific Corporation – Endoscopy; Cook Medical, Inc.; Olympus America, Inc.; and STERIS Corporation - U.S. Endoscopy. Government Regulation The company’s products are classified as class II medical devices subject to regulation by various agencies and legislative bodies, including the United States Food and Drug Administration (FDA) and comparable foreign counterparts. Authorization to commercially market the company’s products in the U.S. is granted by the FDA under a procedure referred to as 510(k) premarket notification. The company must continually meet certain FDA requirements to market its products in the United States. The company and all of its products are subject to the provisions of the Federal Food, Drug and Cosmetic Act of 1938, as amended by the Medical Device Amendments of 1976, Safe Medical Device Act of 1990, Medical Device Modernization Act of 1997, Medical User Fee and Modernization Act of 2002 and similar international regulations, such as the European Union Medical Device Directives. The company’s facilities are subject to periodic inspection by the FDA for, among other things, conformance to Quality System Regulation and Current Good Manufacturing Practice (CGMP) requirements. History CONMED Corporation was founded in 1970. The company was incorporated under the laws of the state of New York in 1970 by Eugene R. Corasanti.
conmed corp (CNMD:NASDAQ GS)
525 French Road
Utica, NY 13502
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