Conformis Suspends All Distribution Operations and Business Development in Russia

BILLERICA, Mass., March 02, 2022 (GLOBE NEWSWIRE) — Conformis, Inc. (NASDAQ:CFMS), announced that it was suspending all distribution operations to Russia and any Russian-based entities for its orthopedic medical devices. Additionally, until further notice, the company will no longer pursue future business development opportunities in Russia. Conformis is the long-time leader in fully personalized orthopedic implants.

“To support our continued expansion into international markets, we had recently entered into a distribution arrangement for representation of our orthopedic devices in Russia,” said Mark Augusti, Chief Executive Officer and President of Conformis. “While we were looking forward to working with our agents and surgeons in Russia, we believe it is important that our business aligns with our values. Therefore, we have notified our representatives that we would not be starting our distribution operations in Russia. We will monitor this closely and look to resume development when appropriate.”

Augusti added, “The orthopedic industry strives to make life better for patients and their families. We feel empathy for the Russian people and potential patients of Conformis, who may have benefited from our products. However, given the unnecessary and unprovoked military invasion of Ukraine instigated by the Russian leadership, we can no longer in good conscience, sell our products or services in the Russian market. We urge other global companies to respond in similar fashion. Our thoughts and prayers go out to the people of Ukraine and the relatives of Conformis employees who live there.”

About Conformis, Inc.
Conformis is a medical technology company focused on advancing orthopedic patient care and creating a world without joint pain. Its product portfolio is designed to maximize surgeon and patient choice by offering fully personalized solutions through its Image-to-Implant® Platinum Services℠ Program as well as data-informed, standardized solutions that combine many benefits of personalization with the convenience and flexibility of an off-the-shelf system. Conformis’ sterile, just-in-time, Surgery-in-a-Box™ delivery system is available with all of its implants and personalized, single-use instruments. Conformis owns or exclusively in-licenses issued patents and pending patent applications that cover personalized implants and patient-specific instrumentation for all major joints.

For more information, visit www.conformis.com. To receive future press releases via e-mail alerts, sign up at ir.conformis.com.

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CONTACT
Investor contact
ir@conformis.com
781.374.5598

Source: Conformis, Inc.