Navigation Links
Misonix Announces the Sale of Its Ultrasonic Laboratory Business for $3.5 Million to iSonix LLC
Date:4/7/2009

FARMINGDALE, N.Y., April 7 /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, announced that it has sold its Ultrasonic Laboratory business for $3.5 million in cash to iSonix LLC. The Ultrasonic Laboratory business manufactures and markets scientific and industrial ultrasonic equipment and recorded approximately $4.6 million in revenue in Fiscal 2008.

Michael A. McManus, Jr., President and Chief Executive Officer, stated, "We are pleased to further strengthen our balance sheet with the additional $3.5 million in cash from the sale of a non-core business. We expect to use the proceeds to pay down some of our bank debt, increase our working capital and other general corporate purposes. We also believe the transaction speaks to the underlying value of our businesses that we believe has not been reflected in our market capitalization today. Most importantly, this transaction also emphasizes our commitment to continue our growth initiatives and become a focused medical device company."

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.

    Investor Relations Contact:
    Cameron Associates, Inc.
    Kevin McGrath
    212-245-4577
    Kevin@cameronassoc.com


'/>"/>
SOURCE Misonix, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Misonix Announces New Distribution Agreement for Belgium and Luxembourg
2. Misonix Announces New Sales Agency Agreement for Eastern Europe
3. Misonix Announces New Distribution Agreement for Israel
4. Misonix Reports Earnings and Increased Revenues for the Three and Six Months Ended December 31, 2008
5. Misonix Schedules Second Quarter Fiscal Year 2009 Financial Results Conference Call; February 9, 2009 at 4:30 P.M. Eastern
6. Misonix Announces New HIFU Distribution Agreement for Italy
7. Misonix Announces Extension and Expansion of Distribution Agreement With Mentor Corporation
8. Misonix Reports First Quarter Fiscal Year 2009 Financial Results
9. Misonix Schedules First Quarter Fiscal Year 2009 Financial Results Conference Call; November 13, 2008 at 4:30 P.M. Eastern
10. Misonix Subsidiary, Sonora Medical Systems, Announces a Major Ultrasound Probe Study
11. Misonix To Present at The Rodman & Renshaw 10th Annual Healthcare Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... ... June 27, 2016 , ... Quality metrics are proliferating in cancer care, and ... in the eye of the beholder, according to experts who offered insights and commentary ... of Managed Care. For the full issue, click here . , For the ...
(Date:6/26/2016)... ... June 26, 2016 , ... Many women are ... with endometriosis. These women need a treatment plan to not only alleviate symptoms ... can help for preservation of fertility and ultimately achieving a pregnancy. The specialists ...
(Date:6/25/2016)... ... June 25, 2016 , ... First Choice Emergency Room , the largest ... as the Medical Director of its new Mesquite-Samuell Farm facility. , “We are ... Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical Director of First Choice Emergency ...
(Date:6/24/2016)... ... June 24, 2016 , ... A recent article published ... unfamiliar with. The article goes on to state that individuals are now more comfortable ... less common operations such as calf and cheek reduction. The Los Angeles area medical ...
(Date:6/24/2016)... ... June 24, 2016 , ... Global law firm Greenberg Traurig, P.A. announced that ... chosen by their peers for this recognition are considered among the top 2 percent ... special honors as members of this year’s Legal Elite Hall of Fame: Miami ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... 24, 2016  Arkis BioSciences, a leading innovator ... more durable cerebrospinal fluid treatments, today announced it ... funding is led by Innova Memphis, followed by ... private investors.  Arkis, new financing will accelerate the ... market release of its in-licensed Endexo® technology. ...
(Date:6/23/2016)... DUBLIN , June 23, 2016 ... "Dialysis Devices Global Market - Forecast to 2022" report ... is the treatment method for the patients with kidney failure, ... and excess fluid from the patient,s blood and thus the ... sodium, potassium and chloride in balance. Increasing ...
(Date:6/23/2016)... 23, 2016 Research and Markets ... Market by Type (Organic Chemical (Sugar, Petrochemical, Glycerin), Inorganic ... Coating, Parenteral) - Global Forecast to 2021" report ... The global pharmaceutical excipients market is projected to ... of 6.1% in the forecast period 2016 to 2021. ...
Breaking Medicine Technology: