I saw a bit on the NY News this evening so did some search on this. It is stem cells injected into the joints... ( will replace hip surgery !!) the cells come from fat taken from the dogs body! It seems the joints are rejuvinated and off all meds and no pain!!! Seems it may be cheaper than if a hip replacement was done!
Here's some links for info.

"Even if a dog has had a bone problem since birth or a crooked paw they can experience a pain free life in a matter of months"
The above was from this link:
http://doghealth1.com/2008/05/vet-stem-cells-save-dogs-from-arthritis/

http://www.vet-stem.com/smallanimal/

http://amcny.wordpress.com/2009/06/01/stem-cell-therapy-for-arthritic-pets/


Terry ( Angel Missy- was diabetic) ,and my rescues, Naddie and Quincy ( non-diabetic)