FRISCO, Texas, Jan. 23, 2024 /PRNewswire/ -- Baird Medical Devices, Inc. ("Baird Medical" or the "Company"), a leading microwave ablation ("MWA") medical device developer and provider in China and the United States, today announced that it has performed its first thyroid MWA procedure in the United States since obtaining registration clearance from the U.S. Food and Drug Administration (FDA) on November 22, 2023.
The minimally invasive procedure was performed on January 12th at Utah Endocrinology Associates by renowned interventional endocrinologist, Dr. Alireza Falahati, marking a significant advancement in thyroid nodule management. The emergent MWA procedure for thyroid nodules offers patients an alternative to traditional excision surgery, enabling swifter recovery, a reduction of scar tissue in the neck and décolleté area and greater efficiency for physicians.
Dr. Falahati, who has been at the forefront of integrating advanced technologies in endocrinology, expressed his enthusiasm for the new treatment option: "The success of this procedure with Baird Medical's ablation needle represents a leap forward in our ability to treat thyroid nodules effectively. I look forward to performing many more similar procedures in the near future."
Thyroid nodules occur in 30-50% of the adult population, with a rise of incidence as people age, and are more common with women than men. MWA procedures utilize a small needle to safely deliver therapeutic microwave energy directly to the nodule being treated while sparing the surrounding healthy tissue and preserving the function of the thyroid, thereby eliminating hormone replacement therapy affiliated with surgical approaches.
"We congratulate Dr. Falahati and his first patient for breaking new ground with us in this important therapeutic area," said Ms. Haimei Wu, Founder and CEO of Baird Medical. "This procedure was conducted less than 60 days after the FDA's clearance of our advanced technology for the U.S. market. We are excited about the opportunities this offers to millions of patients with unmet needs in the future."
Due to recent technological advancements and increasing awareness, there has been a rapid increase in the number of minimally invasive, thermal ablation procedures performed. In September 2023, the American Thyroid Association (A.T.A.) published their recommended guidelines for the safe implementation and adoption thermal ablation procedures to treatment of thyroid nodules, paving the way for widespread adoption of the procedure.
Based on Baird Medical's market research, the U.S. presents an addressable market opportunity of $1.6 billion for MWA systems alone. Recognizing the growing demand for innovative medical solutions, the company is rapidly expanding its commercial team in the United States.
About Baird Medical
Established in 2012 and headquartered in Guangzhou, China, Baird Medical is a leading microwave ablation (MWA) medical device manufacturer and provider in China and the United States. Baird Medical's proprietary medical devices are used for the treatment of benign and malignant tumors including thyroid nodules, liver cancer, lung cancer and breast lumps. Baird Medical is the first company to obtain a Class III medical devices registration certificate for MWA medical devices specifically indicated for thyroid nodules in China. For more information, please visit http://baidesz.com/.
Forward-Looking Statements
This communication contains "forward-looking statements." Such statements include statements concerning anticipated future events and expectations that are not historical facts. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Forward-looking statements are typically identified by words such as "believe", "expect", "anticipate", "intend", "target", "estimate", "continue", "positions", "plan", "predict", "project", "forecast", "guidance", "goal", "objective", "prospects", "possible" or "potential" by future conditional verbs such as "assume", "will", "would", "should", "could" or "may" or by variations of such words or by similar expressions or the negative thereof. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Baird Medical does not assume any obligation to publicly update any forward-looking statement after it is made, whether as a result of new information, future events or otherwise, except as required by law.
Contacts
Investor Relations
Robin Yang, Partner
ICR, LLC
Phone: +1 (646) 308-1475
Email: BairdMedical.IR@icrinc.com
Public Relations
Brad Burgess, Senior Vice President
ICR, LLC
Phone: +1 (646) 588-0383
Email: BairdMedical.PR@icrinc.com
