FARMINGDALE, N.Y., Sept. 9 Misonix, Inc. (Nasdaq: MSON), a developer of minimally invasive ultrasonic medical device technology, which in Europe is used for the ablation of tumors and worldwide for other acute health conditions, has entered into a new, two year, sales agency agreement with privately-held Novotech Solutions ("Novotech"), based in Bangalore, India. Novotech will serve as the sales and distribution organization for the SonaStar(R) Ultrasonic Surgical Aspiration System, the BoneScalpel(TM) Ultrasonic Bone Cutting System and the SonicOne(R) Ultrasound Cleansing & Debridement System.
Novotech has extensive experience with a wide variety of medical devices, laboratory instrumentation, and radiopharmaceuticals. The agreement provides Novotech with the rights to sell in most Middle Eastern countries, all North African countries, India, Pakistan and certain other Asian countries. Sales will be consummated primarily through specialty distributors; however, in certain instances, direct to hospital sales will be permitted. Minimum sales performance criteria are stipulated in the agreement.
The SonaStar is used by Neuro and General Surgeons for quick and efficient removal of both hard and soft tumors while sparing most vessels. In addition, OsteoSculpt(TM) bone shaving technology can be employed with the SonaStar to safely remove osseous structures, thus providing access to the surgical site.
The BoneScalpel is a tissue specific osteotomy device capable of making precise cuts through bone and hard tissue while largely preserving delicate soft tissue structures. It offers the convenience and speed of a power instrument without the potential hazards associated with rotary sharps.
The SonicOne is an innovative, ultrasonic wound care system that offers tissue specific debridement and cleansing for effective removal of devitalized tissue and fibrin deposits while sparing viable cellular structures. The SonicOne establishes a new standard in advanced wound care and ensures progress towards patient healing.
"Misonix is excited about Novotech Solutions joining our sales and distribution organization. Their past sales successes in this important part of the world are well known to us," said Michael A. McManus, Jr., President and Chief Executive Officer of Misonix. "Novotech's reputation for establishing distributor sales and service organizations while complying with local regulatory issues will serve us well as our presence in this region expands. We are very pleased that they will be representing three of our product platforms to their well established distribution channels."
Misonix, Inc. (Nasdaq: MSON) designs, develops, manufactures and markets therapeutic ultrasonic medical devices and laboratory equipment. Misonix's therapeutic ultrasonic platform is the basis for several innovative medical technologies. Addressing a combined market estimated to be in excess of $3 billion annually; Misonix's proprietary ultrasonic medical devices are used for wound debridement, cosmetic surgery, neurosurgery, laparoscopic surgery, and other surgical and medical applications. Additional information is available on the Company's Web site at www.misonix.com.
With the exception of historical information contained in this press release, content herein may contain "forward looking statements" that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include general economic conditions, delays and risks associated with the performance of contracts, risks associated with international sales and currency fluctuations, uncertainties as a result of research and development, acceptable results from clinical studies, including publication of results and patient/procedure data with varying levels of statistical relevancy, risks involved in introducing and marketing new products, potential acquisitions, consumer and industry acceptance, litigation and/or court proceedings, including the timing and monetary requirements of such activities, the timing of finding strategic partners and implementing such relationships, regulatory risks including approval of pending and/or contemplated 510(k) filings, the ability to achieve and maintain profitability in the Company's business lines, and other factors discussed in the Company's Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company disclaims any obligation to update its forward-looking relationships.
Investor Relations Contact: Kevin McGrath Cameron Associates, Inc., 212-245-4577 Kevin@cameronassoc.com
SOURCE Misonix, Inc.