FARMINGDALE, N.Y., May 8 /PRNewswire-FirstCall/ -- 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 definitive, 5-year distribution agreement with Ekrior Lda, a Division of Avanco Sistemas Medicos, based in Barcarena, Portugal, expanding on and replacing a previous agreement with Avanco. Under the terms of the agreement, Ekrior will market the Sonablate(R) 500 High Intensity Focused Ultrasound (HIFU) System as a mobile, "fee for use" service to hospitals throughout Portugal. Misonix and Ekrior will share the "fee for use" revenue for the length of the agreement plus any extension periods. Procedure minimums for "fee per use" revenue are part of the agreement.
Ekrior management, drawing on Avanco's long and successful history of introducing state of the art medical products and services, with an emphasis on urology and oncology, presents an excellent opportunity for rapid expansion in the Portuguese market.
The Sonablate is a state of the art HIFU instrument used for the trans-rectal ablation of tumors of the prostate gland. Characteristics of HIFU, when used for this purpose, are clinical outcomes similar to other treatment modalities, but with low instances of urinary incontinence and sexual impotence.
"Misonix is pleased to partner with Ekrior Lda to provide prostate HIFU to hospitals in Portugal. Ekrior's strategy of introducing advanced alternate treatment modalities to underserved markets is synergetic to our own approach," said Michael A. McManus, Jr., President and Chief Executive Officer of Misonix. "Ekrior's commitment to the mobile 'fee for service' business segment makes them a particularly appealing distribution partner, whose market strengths blend well with Misonix's business strategy for HIFU."
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.|
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