Internal Fixation Systems, Inc. Announces Form S-1 Declared Effective by SEC and Anticipated Quotation for Trading on OTCQB
SOUTH MIAMI, Fla., May 18, 2011 /PRNewswire/ -- Internal Fixation Systems, Inc (IFS)announced today that its Registration Statement on Form S-1 (SEC File No. 333-170008) was declared effective by the Securities and Exchange Commission ("SEC") on May 15, 2011. In addition and contemporaneous with the effectiveness of the Registration Statement on Form S-1, IFS registered its common shares under the Securities Exchange Act of 1934 (the "1934 Act") and has voluntarily become subject to the reporting obligations under the 1934 Act. IFS anticipates that, subject to FINRA approval, IFS' common shares will become quoted for trading on the OTCQB.
About Internal Fixation Systems:
IFS is a medical technology company specializing in the manufacture and marketing of generically priced orthopedic and podiatric surgical implants. Our strategy is to offer high quality, cost effective surgical implants that are equivalent in quality, design, functionality and materials to the current industry "Gold Standards". We focus on products that no longer have patent protection, products that are used every day in surgery. This, along with our innovative modular design of surgery sets allows the company to have substantially lower R&D and FDA approval costs and also allows us to maintain substantially lower field inventory costs.
The company has FDA 510(k) approval for ten cannulated screw system products. Applications have been submitted for additional products including locking small fragment plates and locking distal radius plate along with corresponding instrument sets. We expect to receive FDA approval for these products in the second quarter of 2011 and that these products will be for sale by year-end.
IFS was started in 2006 and current customers include surgery center operators, hospitals and individual orthopedic surgeons.
The IFS management team is led by noted healthcare