FARMINGDALE, N.Y., Sept. 2 /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, today announced the restructuring and expansion of its sales organization in Europe. Two business units have been created; one for sales and service of the Sonablate(R) 500 High Intensity Focused Ultrasound ("HIFU") System and the other for sales and service of the SonaStar(R) Ultrasonic Surgical Aspirator, the BoneScalpel(TM) Ultrasonic Bone Cutting System and the SonicOne(R) Ultrasonic Wound Cleansing and Debridement System.
The new Misonix HIFU Technologies business unit, which will be headed by industry veteran Nick Stevens, will focus on a "fee for use" business model that will feature a combination of mobile services delivered directly to hospitals and "centers of excellence" to which qualified patients can be referred. The Company's UKHIFU and Misonix France business units, which were created to support the "fee for service" business model, will be integrated into Misonix HIFU Technologies and will be overseen by the same management team.
Misonix EMEA (Europe, Middle East, Africa) will continue to sell and service the Company's non-HIFU product platforms through a growing network of specialty distributors and will continue to be managed by Patrick Kyne, who has more than 20 years of experience with sales organizations in Europe, the Middle East, Africa, Asia, and Latin America. The Company has more than 10 specialty distributors trained and operational with plans to rapidly expand the sales organization.
The Sonablate 500 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.
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 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.
"We are confident that the separation of the European sales organization into two units will provide the market focus necessary to gain market share and grow revenues in key geographic locations," said Michael A. McManus, Jr., President and Chief Executive Officer of Misonix. "Both sales groups are staffed by seasoned, successful sales professionals dedicated to building customer awareness and brand equity for Misonix. We believe these sales teams will also provide us with the capability to effectively sell other Misonix labeled products to clinical customers in the years to come."
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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