NOVEMBER 1, 2018
OsteoRemedies® Announces the First FDA Cleared Dual-Antibiotic Spacer and Bone Cement with Gentamicin and Vancomycin
Memphis, TN, (DATE) — OsteoRemedies®, LLC, a company focused on providing simple solutions to complex disorders, is pleased to announce the launch of the REMEDY SPECTRUM™️ GV Hip Spacer System and SPECTRUM™️ GV Bone Cement. Building on its portfolio consisting of the only pre-made modular spacer system with Gentamicin for Hip, Knee and Shoulders, the REMEDY SPECTRUM™️ GV Hip System will provide surgeons with the first ever broad-spectrum treatment option with both Gentamicin and Vancomycin.
“We are very proud to have the first FDA cleared dual-antibiotic spacer system and bone cement offering”, stated Chris Hughes, President and Chief Executive Officer of OsteoRemedies®. “Since we started the company in 2013, our commitment to the growing problem of treating joint infections has been our mission. The amount of science, testing and clinical data supporting this launch is unparalleled in our space. The addition of the SPECTRUM™️ GV portfolio, further enhances our vision for providing simple solutions for complex disorders for revision infection remedies and achieving a market leadership position in our niche”.
The launch of the SPECTRUM™️ GV system will begin November 1-4 at the American Academy of Hip and Knee Surgeons (AAHKS) in Dallas, Texas where OsteoRemedies® will be exhibiting at Booth # 308. In addition to the introduction of SPECTRUM™, OsteoRemedies® will also be showcasing the newly launched REMEDY® Acetabular Cup Spacer, which in conjunction with the REMEDY® Hip System, provides the only Pre-formed all PMMA hip spacer option on the market. The existing portfolio will also be displayed, including the REMEDY® Modular Hip, Knee and Shoulder Spacer, OSTEOBOOST®️ RBK and FLORASEAL®️ Microbial Sealant along with UNITE® Antibiotic Bone Cement.
About OsteoRemedies®, LLC
OsteoRemedies provides simple solutions to complex musculoskeletal disorders. Their first introduction was the REMEDY® Spacer System. This was the first available modular system for hip, knee and shoulder two-stage infection revision arthroplasty. The REMEDY® Spacer System and REMEDY SPECTRUM™️ GV Hip Spacers are indicated for temporary use (maximum 180 days) as an adjunct to total joint replacement in skeletally mature patients undergoing a two-stage procedure due to a septic process and where gentamicin or gentamicin and vancomycin are the most appropriate antibiotics based on the susceptibility pattern of the infecting micro-organisms. SPECTRUM™ GV Bone Cement is indicated for use with the REMEDY SPECTRUM™ GV Hip Spacer System. Other product offerings include OSTEOBOOST®️ RBK and FLORASEAL®️ Microbial Sealant and UNITE®️ AB Bone Cement.
The Company’s web site for news releases and other information is www.osteoremedies.com.
APRIL 10, 2018
Family Lessons Guide OsteoRemedies’ CEO
By SUZANNE BOYD
Hard work and family are at the heart of Chris Hughes’ work ethic as he serves as Chief Executive Officer for OsteoRemedies.
Growing up in Cleveland Ohio, Hughes’ parents instilled a strong sense of family, a demanding work ethic and the importance of treating everyone with respect. The loss of his wife, Kim, in 2016 at 43, only accentuated the importance of those qualities and fueled this drive to lead his Memphis-based medical device company that provides orthopedic surgeons solutions to complex disorders while offering revision and infection remedies.
For Hughes, college was a must; the challenge was how to pay for it.
“My choices were either to go to West Point or find a school with an ROTC program. Either way, I could serve my country and get my education paid for,” said Hughes. “In doing my research on ROTC programs, I discovered not all included room and board. I also was looking for a good business school. The University of Tampa was the answer. It offered an ROTC program that would give me a full ride, had a great business school and I could be on the golf team.”
After college, Hughes spent four years active duty in the Army. When faced with the choice of making the military a career and then starting a new career at the age of 42 or leaving as a Captain, Hughes chose civilian life. Through a military program that placed junior officers into corporate America, Hughes entered the medical field as a sales manager in the medical sales industry.
Four years later, Hughes found himself at a crossroad in his career, needing to decide between sales or marketing. Having a degree in marketing, it was an easy choice. Orthopedics and Memphis seemed to offer the best opportunity. For the next ten years Hughes worked in marketing medical devices for Wright Medical Group, Smith and Nephew, then Medtronic.
“I had always wanted to lead my own company so when Paradigm Spine offered me the opportunity to be President, I couldn’t say no, even though the job was in New York City and Memphis was my home. It was one of the greatest experiences I had in my medical device career, even though it meant a weekly commute to New York. After four years, I swapped my weekly airplane commute for one by car to Nashville to run a medical device distribution company there” said Hughes.
“While working in Nashville, I was approached by colleagues in the industry who had some intellectual property and interest in developing a business plan to start a company with this unique technology. When they asked what it would take for me to run the company, my only request was that the company be based in Memphis. My six years of commuting was over when OsteoRemedies was founded in 2013.”
Aside from it being his home, Memphis brought a lot to the table in terms of being the global headquarters for OsteoRemedies.
“Memphis is a great choice for any medical device start-up. It is centrally located and home to FedEx,” said Hughes. “Add to that there 20-some medical device start-ups here and the more than 4000 medical device industry employees which means a plethora of expertise here.”
First on Hughes’ CEO agenda was to find distributors for a product that was not yet ready for sale. Hughes went to a medical device conference and signed up ten distributors. Three months later he set up a booth at the annual meeting of the American Academy of Orthopedic Surgeons to announce the launch of OsteoRemedies RemedyÒ Spacer System that could be used in infected knee and hip surgeries. The company since has added shoulder applications and continues to expand its portfolio, recently announcing a fifth product line.
Having a positive cash flow and being profitable quickly was a key element of Hughes’ initial business plan. His plan also included rejecting investment or venture capital. To this end, Hughes wanted to keep the firm lean.
“One philosophy when developing the business plan came from challenges I had faced in the past with hiring too many people and having a facility with too much space,” he said. “We only hire someone when we need them full time.”
Initially, OsteoRemedies and Chris Hughes were one in the same – he was the only employee. After six months he hired an office manager to help with logistics. In 2014, when the first product launched, he hired a customer service representative. Since then the staff has grown by just three permanent employees – the Chief Operating Officer, one person in marketing and another in R&D. All other duties are fulfilled by 1099 contract personnel.
“We only hire the best and I am very proud of the team we have built,” said Hughes. “Marketing and R&D came out of the growth we have had. Our COO, Eric Stookey, former president of Wright Medical Group and a known leader in the ortho space. He changed the trajectory of this company when he came in 2015.”
With 80 distributors across the United States, OsteoRemedies focuses on being the premier choice of orthopedic surgeons for complex infection and revision procedures. “We are capturing about 20 percent of the market for patients eligible for the type of devices we offer,” said Hughes. “While we have room to grow, we are very comfortable in our niche. We see ourselves as complementing the bag of products offered by the orthopedic distribution companies we use.”
Hughes says OsteoRemedies relies on feedback from surgeons when it comes to research and development of new products. “We are constantly looking at new products,” he said. “We are the only company in the market with a modular hip spacer system with an acetabular cup, used in the complete revision of a two-stage infected hip revision. That product came about based on gaining insight from some of the top surgeons experts, who were not choosing our system.”
With a philosophy on growth and a mantra of never fast enough and never enough, Hughes is pleased that OsteoRemedies’ growth has exceeded expectations every month, quarter and year. “Either I underestimated our potential, or we have just done better than we anticipated,” he said.
In developing his work ethic and management style, Hughes said he had the greatest example growing up: his parents. “They treated everyone with respect and they worked hard,” he said. “It’s a simple leadership style that is built on the fact that everyone is an individual and should be treated with respect. I believe no one works for me, they work with me. Servant leadership was what I was taught as a young marketing person and something I believe in every day.”
That servant’s heart is also evident in Hughes personal life. Family is of the utmost importance to him and never more so than since the loss of his wife.
“Family has always been important to me, but now more than ever with my children. Being able to take care of them is of paramount importance. I view my business as another way to do that,” said Hughes. “My family is what keeps me focused and drives me more than ever.”
JULY 26, 2017
OsteoRemedies® introduces FLORASEAL® in exclusive private label distribution agreement with Adhezion Biomedical LLC
OsteoRemedies LLC introduces its latest product FLORASEAL Microbial Sealant through an exclusive US distribution agreement with Adhezion Biomedical LLC. FLORASEAL is a patented film-forming, cyanoacrylate-based microbial sealant intended to reduce the risk of skin flora contamination throughout the surgical procedure. FLORASEAL acts as a physical barrier to microbial penetration as long as the sealant film remains intact. Studies have shown that FloraSeal typically stays on the skin for 5-7 days. The use of an incise drape with FLORASEAL sealant is not necessary. “FLORASEAL is a perfect fit to our portfolio of infection related products and coincides with our vision to be the premier choice for surgeons by providing simple solutions to complex disorders focused on revision and infection remedies,” said Chris Hughes, Founder and CEO of OsteoRemedies. “With Adhezion’s commitment and expertise to cyanoacrylate-based microbial sealant adhesive and infection prevention products, I believe this is the ideal partnership for OsteoRemedies,” added Hughes.
About OsteoRemedies LLC
OsteoRemedies is a Memphis, TN company focused on providing simple solutions to complex disorders for revision and infection remedies. OsteoRemedies currently provides REMEDY® Spacer System, the only pre-molded modular spacer system, and UNITE® Antibiotic Bone Cement for 2 stage revision of infected hip, knee and shoulder total joints. OsteoRemedies also provides OSTEOBOOST® Resorbable Bead Kit, the only tri-phasic bone void filler in bead kit formulation. To learn more about OsteoRemedies and its products, please visit www.osteoremedies.com
About Adhezion Biomedical LLC
Adhezion Biomedical is a privately held medical device company based in Wyomissing, PA. Adhezion is committed to developing and manufacturing medical cyanoacrylate products used in the treatment of wound closure, wound management, intravenous device securement and infection prevention. To learn more about Adhezion and its products, please visit www.adhezion.com
Chief Operating Officer
MARCH 17, 2015
OsteoRemedies® appoints Eric A. Stookey as Chief Operating Officer
OsteoRemedies, LLC, a company focused on providing simple solutions to complex disorders currently not addressed in the musculoskeletal market, is pleased to announce Eric A. Stookey has been appointed Chief Operating Officer, effective March 1, 2015.
“In 2015, we plan to introduce new products, enter new markets, and expand our hip and knee surgeon network,” stated Chris Hughes, President and Chief Executive Officer of OsteoRemedies. “Eric’s tremendous experience and pattern of success in orthopedics is exactly what we need to successfully execute our strategic plan and allow OsteoRemedies to uniquely serve our surgeon customers’ clinical needs.”
Prior to joining OsteoRemedies, Mr. Stookey most recently served as the President of the Extremities-Biologics division at Wright Medical Group, Inc. (Nasdaq:WMGI) until August 2014. Mr. Stookey served in various other marketing and sales positions at Wright Medical Group, Inc. since 1995, including the Senior Vice President and Chief Commercial Officer, Vice President North American Sales, Senior Director of Sales – Central Region, and Director of Marketing for Large Joint Reconstruction Products. He also worked for DePuy Orthopedics, Inc. from 1993 to 1995.
Mr. Stookey earned his Masters of Business Administration degree from Christian Brothers University and his Bachelor of Science degree in Business from the Indiana University School of Business. In addition to his new role as Chief Operating Officer, Mr. Stookey will continue to serve as an independent member of the Board of Directors for both Amedica Corporation, Salt Lake City, UT (Nasdaq: AMDI) and Cartiva, Inc., Alpharetta, GA.
“I am delighted to be joining the OsteoRemedies team to help build upon the excellent foundation and momentum Chris has established over the past 12 months,” stated Mr. Stookey. “We absolutely share a vision for addressing unmet needs that allow clinicians to better treat their patients, and I’m excited to work with the world-class distributors to further expand this organization.”
OsteoRemedies will be exhibiting at the upcoming American Academy of Orthopedic Surgeons (AAOS), in Las Vegas, NV, on March 25-27 (Booth #4665). As part of this event, they will be displaying current differentiated products like the REMEDY® Spacer, UNITE® Antibiotic Bone Cement and unveiling new revision offerings that will further address unmet needs in the US orthopedic market.
About OsteoRemedies, LLC
OsteoRemedies provides simple procedural solutions to complex musculoskeletal disorders. Their first introduction in the orthopaedic market was the REMEDY Spacer System. This is the first FDA-approved modular system available for both hip and knee two-stage infection revision arthroplasty. The REMEDY Spacer is indicated for temporary use (maximum 180 days) as an adjunct to total hip or knee replacement in skeletally mature patients undergoing a two-stage procedure due to a septic process and where gentamicin is the most appropriate antibiotic based on the susceptibility pattern of the infecting micro-organisms. Their second product was the UNITE AB Bone Cement product line. UNITE is available in a 40 gram batch loaded with gentamicin.
President and CEO
MARCH 3, 2015
6 Questions with Chris Hughes, an entrepreneur who is challenging conventional thinking in Orthopedics
This is the first in a series of 6-Question interviews with the leaders who are challenging conventional thinking in Orthopedics.
I have known Chris Hughes for over a decade. After serving in the Army, he rose through the ranks of Sales and Marketing in Orthopedics and Spine, the latter with Medtronic Spine & Biologics and two start-up ventures. In 2008, he threw himself into his first startup as President of Paradigm Spine, a Viscogliosi portfolio company. He now heads up an innovative startup called OsteoRemedies® that is thinking differently. Chris is the President and CEO. I sat down with Chris and asked him a few questions.
1. What were the origins of OsteoRemedies? Tell us how it all started.
Chris Hughes: I founded OsteoRemedies in September of 2013. A few months prior to this, a group with the IP approached me wanting to introduce their ideas to the US market. I was immediately impressed with the progress they had made with design, regulatory approvals, as well as pre-clinical and biomechanical data. As I researched the market potential, I realized quickly that this was a great alternative in a very differentiated space. I recall discussing with my family, a few mentors, friends and potential business partners that I would need help from them to get things started. The support was overwhelming. So I searched a few potential company names, hired The Robinette Group to help develop our brand, logo, and image and we were off! It was exciting to literally “start-up” from the napkin. Our first introduction was at the CCJR meeting in December of 2013, where my primary goal was to find several high quality distributors. At the time, I had product being manufactured and was focused on developing a brand, vision, goals and refining our strategic plan. I was overwhelmed with the reception from some of the largest, best independent agents in the country. I look back and it was lonely on that island booth with no products to sell and no sales force, but I knew we had a great story and a compelling opportunity.
My vision then, when starting OsteoRemedies, and still today is to provide simple procedural solutions to complex musculoskeletal disorders not addressed in the market today. Our REMEDY® Antibiotic Spacers and UNITE® Antibiotic Bone Cement address the first of several markets we have targeted. In the near-term, we will enter new markets while ensuring we stay true to providing simple, differentiated solutions to complex problems.
2. How is OsteoRemedies funded and why have you chosen Memphis as a base?
Chris Hughes: We are fully funded by the group that approached me in 2013. OsteoRemedies is not your typical start-up; we are not funded by a VC firm or traditional “exit focused” investors. I believe this allows for a more pure management driven strategic plan that is focused on customers, sales, operations, cash flow and growth. In the past, I have been fortunate to work with small, medium and large organizations, ranging from cash rich market leaders to boot strapped start-ups. The greatest lesson I have learned is that cash is king. That is top of mind in all decisions we make; as long as it allows us to ensure our mantra of ALWAYS meeting our customer needs.
As for location, Memphis was a no brainer. I have lived here now for 18 years and have come to appreciate its numerous business advantages. As we grow, there are 4000 plus medical device employees to attract and recruit. We have first-class, multi-disciplinary physician practices in town, world-renowned hospitals, FedEx, Millstone Medical Outsourcing and several bioscience companies, all centrally located in the U.S., with an excellent cost of living. You add it all up and Memphis is a great choice for any medical device start-up.
3. Who are OsteoRemedies’ targeted customers?
Chris Hughes: Currently we focus on providing simple procedural solutions to surgeons who perform Hip and Knee Revision Arthroplasties. As we develop and launch new products, we will continue to target segments of the market where we can address unmet needs for the clinicians we serve. Our goal is to be the “Premier Choice” in these markets and not compete in the commodity musculoskeletal spaces. In other words, we are not focused on pedicle screws, cages, primary hips and knees or plates and screws. We are very interested in serving the clinicians that use these products, but only where we can help the medical industry solve meaningful clinical issues, provide economic value, while creating barriers to entry that protect the sustainability of our business and the interests of the world-class distributors that carry our products.
4. What makes the REMEDY Knee and Hip spacer different from other antibiotic spacers on the market such as Biomet’s StageOne mold?
Chris Hughes: From both our view, and the feedback from our customers, we see many advantages including simplicity, modularity, interchangeability, strength, elution profile of the antibiotics over time, proper sizing and cost effectiveness. Unlike some competitive options, our spacers are pre-made, saving the surgeon time in the OR which saves the facility money.
Our hip system is modular with 6 stems and 3 interchangeable heads, allowing for proper fit, both in component size and through tensioning with our unique variable offset design. Our knee-size combinations are totally interchangeable, allowing surgeons to address situations where they want or need to mis-match constructs. We have the only system that offers wedge augments (10 mm height) that allow the surgeon to replicate the joint space defects. Because REMEDY Spacers are pre-made; they are manufactured in a controlled environment. This provides a consistent blend of our PMMA and Antibiotics that cannot be replicated with hand-made molds. This proper mixture also yields superior mechanical strength, which is critical for a weight-bearing spacer. Off-the-shelf cements mixed in molds are designed for fixating devices and filing gaps but were not intended to be articulating joint replacements. Our formulation and geometry also allows for elution of the antibiotics over time where mold designs have shown in the literature to “trap the excess or wasted antibiotics” in the mold after 24 hours. Simply put, the REMEDY Spacer System is simple, strong and both clinically and cost effective.
5. What are the challenges of breaking into this market?
Chris Hughes: Distribution is one of the critical requirements for success in medical device markets. The challenge we face as a small start up is reaching our surgeon customers. We are fortunate to have attracted some of the best distributors nationwide this past year. I was so busy after the CCJR making product, developing marketing materials and signing-up distributors. Time was literally flying by. A few months later we launched at AAOS. I remember driving down to New Orleans with a new company, new brand, new booth and a few distributors ready to sell. I left AAOS with 26 distributors carrying our spacers and cement and we just ramped. It was fun, and I am still energized by the excitement of the distributors and customers about our products. Today, we now have over 40 distributors carrying our products and we are excited for our second AAOS in Las Vegas.
6. What are OsteoRemedies goals for the next few months and years?
Chris Hughes: Our goal for the next few months is growth. We had a great first year but I always say, never fast enough and never enough. This year we plan to grow sales, personnel and enter new differentiated markets where we can offer surgeons solutions to complex problems. We also plan to help our distributor partners grow their business. I believe our products can continue to help them increase revenues with OsteoRemedies, but just as strategically important, can help them grow their respective main lines too. The REMEDY Spacer, UNITE Antibiotic Cement and our new revision offerings (to be unveiled at AAOS) can open doors for our sales force.
I am also proud to announce, that effective March 1st, Eric Stookey joined OsteoRemedies as Chief Operating Officer. Eric has 20 years experience in orthopedics most recently as President, Wright Medical, Extremities and Biologics. Eric and I started in marketing together 18 years ago. After two years we went different paths in Orthopedics and Spine but maintained our professional and personal relationship. For OsteoRemedies, it is an ideal time for business expansion and a pleasure having Eric on board to collaborate with, further develop and grow OsteoRemedies. Our goal over the next few years is to continue providing simple solutions to complex disorders currently not addressed in the musculoskeletal market, thus allowing the valued customers we serve to restore their patients’ lives!