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Conformis Partners with Synchrony to Offer CareCredit Financial Services to Orthopedic Patients

CFMS, SYF

The partnership, announced at the 2022 AAOS conference, will enable patients that have selected a fully personalized Conformis implant – through the company’s Image-to-Implant Platinum Services Program – access to flexible payment options

BILLERICA, Mass., March 22, 2022 (GLOBE NEWSWIRE) -- Conformis, Inc. (NASDAQ: CFMS), the pioneer and leader of fully personalized knee and hip replacement systems, today announced a strategic marketing partnership with Synchrony (NYSE: SYF) that will add the innovative Image-to-Implant® Platinum Services℠ Program to Synchrony’s successful CareCredit offering. The CareCredit credit card is accepted at more than 250,000 providers and health-focused retail locations, including 20 health systems, and has more than 11 million cardholder accounts.

CareCredit and Conformis will promote the availability of the CareCredit program to orthopedic surgeons and medical facilities across the United States. The strategic partnership is designed to provide an easy-to-use financing option for health facilities to offer to patients to help pay out-of-pocket costs related to knee replacement using Conformis systems, including personalization service upgrades under Conformis’ recently announced Platinum Services Program.

“Increasingly, patients undergoing orthopedic care, such as joint replacement, are choosing upgraded services that can result in out-of-pocket costs to the patient,” said Mark Augusti, Chief Executive Officer and President of Conformis. “We are excited about our marketing collaboration with Synchrony, which will allow medical facilities to offer CareCredit‘s convenient payment options to patients for these costs.”

The new marketing partnership will be highlighted during the 2022 American Academy of Orthopaedic Surgeons (AAOS) Annual Meeting March 22-26, 2022, in Chicago, IL at the Conformis Product Booth #1867 and at the CareCredit Booth #805.

When patients seeking orthopedic services have an out-of-pocket investment, cost can often be a concern and barrier to treatment. With the CareCredit credit card, orthopedic practices can help patients overcome this challenge and move forward with the recommended procedure and get the required implants or other therapeutic products they may need. CareCredit can also be used to pay for care not covered by insurance, including elective procedures, copays, deductibles and coinsurance.

“Providing financial solutions that can help increase access to healthcare services like orthopedics is imperative – especially in today’s economic environment,” said Claude Royster, Vice President, General Manager – CareCredit. “At CareCredit, we’re very pleased to join with Conformis in this effort because we share a common goal to do what we can to support the health and wellness of orthopedic patients, as well as the Doctors of Orthopedic Medicine and their practices.”

This partnership comes as more patients are interested in personalized medicine and have indicated a strong preference for fully personalized implants, as supported by a new clinical study published in The Journal of Bone & Joint Surgery Reviews (JBJS Reviews). The research found that bilateral knee patients prefer Conformis’ fully personalized solution over competitive off-the-shelf implants by a factor of more than 10 to 1.

Orthopedic practices accepting the CareCredit credit card who would like additional tools and resources to promote special financing should call 800.859.9975 or visit https://www.carecredit.com/providercenter/medical-specialties/. Practices not currently accepting CareCredit but who are interested in maximizing treatment acceptance should call 800.300.3046 or visit https://www.carecredit.com/providercenter/medical-specialties/ to learn more or enroll.

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.

About CareCredit
CareCredit, a Synchrony solution, is a leading provider of promotional financing to consumers for health, veterinary and personal care procedures, services and products. For more than 30 years, CareCredit has helped millions of people by offering special financing options with convenient monthly payments.

About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering customized financing programs across key industries including retail, health, auto, travel and home, along with award-winning consumer banking products. With more than $140 billion in sales financed and 80.3 million active accounts, Synchrony brings deep industry expertise, actionable data insights, innovative solutions and differentiated digital experiences to improve the success of every business we serve and the quality of each life we touch. More information can be found at www.synchrony.com and through Twitter: @Synchrony.

Cautionary Statement Regarding Forward-Looking Statements
Statements in this press release about our future expectations, plans and prospects, including statements about the anticipated timing of our product launches, and our financial position and results, total revenue, product revenue, gross margin, operations and growth, as well as other statements containing the words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "project," "should," "target," "will," or "would" and similar expressions, constitute forward-looking statements within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. We may not actually achieve the forecasts disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual financial results could differ materially from the projections disclosed in the forward-looking statements we make as a result of a variety of risks and uncertainties, including risks related to our estimates and expectations regarding our revenue, gross margin, expenses, revenue growth and other results of operations, and the other risks and uncertainties described in the "Risk Factors" sections of our public filings with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent our views as of the date hereof. We anticipate that subsequent events and developments may cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date hereof.

INVESTOR CONTACT:
ir@conformis.com
781.374.5598

Source: Conformis, Inc.


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