UTICA, N.Y., Oct. 26 /PRNewswire/ -- CONMED Corporation (Nasdaq: CNMD)
today announced the signing of a license agreement with Jerome Canady M.D., a
transplant surgeon with the University of Pittsburgh's Thomas E. Starzl
Transplantation Institute, and Argon Electro-Surgical Corporation. This
agreement grants to CONMED the exclusive rights in the United States and
certain other countries to sell argon catheter products with additional
proprietary features used for incising, manipulating or otherwise treating
tissues. CONMED Corporation is the market leader in Argon Beam Coagulation
(ABC(R)) technology which assists surgeons with its enhanced coagulation
properties. Terms of the agreement were not disclosed.
These new products will be used in endoscopic digestive tract procedures
by gastroenterology (GI) specialists for treating certain conditions of the
esophagus, stomach and colon. The new instruments include multifunctional
polypectomy snares, sclerosing needles and hot biopsy forceps combined with
ABC(R) technology. The Company plans on a rollout of the devices in the
spring of 2002. The addition of these products to CONMED's ABC(R) product
line is expected to contribute in excess of $2 million in new sales revenues
(including pull-through sales of the Company's line of ABC(R) generators) in
the first twelve months.
Mr. Joseph J. Corasanti, President and COO, stated, "I am very pleased
that the Company has been able to obtain an exclusive license to Dr. Canady's
patents regarding this unique technology. CONMED currently serves the
GI endoscopy market with sales of its System 7500(TM) Argon Beam Coagulation
Generator and sales of its ABC(R) catheter product called "ABCFlex(TM)." The
addition of products that combine an electrosurgical snare, needle, and biopsy
punch with an argon beam catheter will greatly enhance our product offering
for this market."
CONMED's GI endoscopy line is sold by the Company's electrosurgery sales
force. ABC(R) is a patented technology owned by CONMED that allows physicians
to create rapid hemostasis by combining RF electrosurgical energy with a
directed column of argon gas. ABC(R) technology is routinely used in general
surgery, oncology, trauma, orthopedics, gynecology, gastroenterology and other
medical specialties. It is particularly well suited for procedures requiring
rapid hemostasis of bleeding tissue such as liver transplantation, corrective
surgery for scoliosis, and thoracic surgery.
This press release contains forward-looking statements based on certain
assumptions and contingencies that involve risks and uncertainties. The
forward-looking statements are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995 and relate to the
Company's performance on a going-forward basis. The forward-looking
statements in this press release involve risks and uncertainties which could
cause actual results, performance or trends, including the above mentioned
anticipated revenues and earnings, to differ materially from those expressed
in the forward-looking statements herein or in previous disclosures. The
Company believes that all forward-looking statements made by it have a
reasonable basis, but there can be no assurance that management's
expectations, beliefs or projections as expressed in the forward-looking
statements will actually occur or prove to be correct. In addition to general
industry and economic conditions, factors that could cause actual results to
differ materially from those discussed in the forward-looking statements in
this press release include, but are not limited to: (i) the failure of any one
or more of the assumptions stated above; (ii) the risks relating to
forward-looking statements discussed in the Company's Annual Report on Form
10-K for the fiscal year ended December 31, 2000; (iii) cyclical purchasing
patterns from customers, end-users and dealers; (iv) timely release of new
products, and acceptance of such new products by the market; (v) the
introduction of new products by competitors and other competitive responses;
(vi) the possibility that the patents covered by the license agreement could
be declared invalid or unenforceable; and/or (vii) the Company's ability to
devise and execute strategies to respond to market conditions.
SOURCE CONMED Corporation
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Related links:
http://www.conmed.com
Company News On-Call:
http://www.prnewswire.com/comp/201850.html
CONTACT:
Robert Shallish, Chief Financial Officer of
CONMED Corporation, +1-315-624-3206; or Investors - Theresa Vogt
or Lanie Fladell, or Media - Dan Budwick, all of Morgen-Walke
Associates, +1-212-850-5600, for CONMED Corporation
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