Misonix Announces New Distribution Agreement For Greece
FARMINGDALE, N.Y.--(BUSINESS WIRE)--Misonix, Inc. (NASDAQ: MSON), a developer of minimally invasive ultrasonic medical device technology, which in Europe is used for the ablation of cancer and worldwide for other acute health conditions, has entered into a new, five year, exclusive distribution agreement with privately-held ST-Medical, based in Athens, Greece, for the distribution of the SonaStar™ Ultrasonic Surgical Aspirator, the BoneScalpel™ Ultrasonic Bone Cutter, and the SonicOne® Ultrasonic Wound Debrider. The agreement provides ST-Medical with the rights to sell in Greece and Cyprus, and includes minimum purchase requirements. ST-Medical previously distributed only the SonaStar Ultrasonic Surgical Aspirator.
ST-Medical, who has experienced rapid sales growth for several years, has built a reputation as a distributor of state-of-the-art medical devices and capital equipment, with special emphasis on neurosurgery and spine surgery.
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™ bone sculpting 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 danger 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 has been very pleased with ST-Medical's past sales performance while representing SonaStar and is excited about expanding its partnership with North Med to include SonicOne and BoneScalpel. We know ST-Medical as a high-profile distributor of advanced medical equipment to Greece and Cyprus," said Michael A. McManus, Jr., President and Chief Executive Officer of Misonix. "ST-Medical has a reputation for quality and is well known for successfully introducing high tech medical devices to their markets. We are particularly pleased that they will be distributing three of our products through their well established pipeline."
About Misonix:
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.
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