| Misonix, Inc. Terminates Agreement with PuriCore |
FARMINGDALE, N.Y., Oct. 11, 2013 /PRNewswire/ -- Misonix, Inc. (Nasdaq: MSON), a surgical device company that designs, manufactures and markets innovative therapeutic ultrasonic products worldwide for wound debridement, spinal surgery, cosmetic surgery, neurosurgery, laparoscopic surgery and other surgical applications, announced today that Misonix terminated its Product License and Distribution Agreement ("Agreement") with PuriCore, Inc. for the sale of PuriCore's Vashe System. Misonix and PuriCore have signed a Settlement Agreement resolving all issues.
As a result of the termination of the agreement, Misonix will no longer be obligated to pay the remaining minimum gross profit balance of $1.3 million. The Company previously recorded in fiscal 2013 all appropriate amounts.
Michael A. McManus Jr., President and CEO said, "We are pleased to place this matter behind us and move forward with our core business. We will continue to look for appropriate add on products to purchase or distribute that are synergistic to the core procedures and to our surgeons in the spine and wound care businesses."
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| Misonix Showcases Ultrasonic BoneScalpel(TM) at the Annual Meeting of the North American Spine Society |
FARMINGDALE, N.Y., Oct. 16, 2013 /PRNewswire/ -- Misonix, Inc. (NASDAQ: MSON), an international surgical device company that designs, manufactures and markets innovative therapeutic ultrasonic products for spine surgery, skull based surgery, neurosurgery, wound debridement, cosmetic surgery, laparoscopic surgery and other surgical applications, exhibited at the 28(th) Annual Meeting of the North American Spine Society (NASS) in New Orleans, Louisiana on October 9-11, 2013.
The North American Spine Society is a multidisciplinary medical organization dedicated to fostering the highest quality, evidence-based and ethical spine care by promoting education, research and advocacy. Its annual meeting held last week is one of the largest multidisciplinary continuing medical education (CME) meetings for spine specialists in North America. The objective of this meeting was to present current research and data, promote discussion of new scientific and technological developments and foster research and training in the field of spinal disorders. The meeting was attended by more than 3,000 medical professionals, the vast majority being from the United States and approximately 30% from around the globe. More than 73% of attendees declared that they influence purchasing decisions.
Misonix's BoneScalpel, a unique ultrasonic osteotome for tissue-selective bone dissection, was demonstrated at this year's NASS Annual Meeting. BoneScalpel enables en-bloc bone removal and refined osteotomies while sparing elastic soft tissue structures such as important nerves and arteries. Therapeutic ultrasound is well-known for its coagulative effects and the BoneScalpel has been reported to substantially reduce blood loss in multilevel spinal osteotomies.
The Misonix BoneScalpel is increasingly being adopted by more surgeons throughout the country. Dr. Paul Holman, a leading orthopedic surgeon at Houston Methodist Hospital said, "I view the BoneScalpel as one of the three most important technologies to enter the spine world in the last 10 years. It has been of tremendous value to my practice particularly in adult deformity surgery where multiple laminectomies and Smith-Peterson osteotomies are needed. The precision and coagulative effect of the bone scalpel also facilitate more complex procedures such as Pedicle Subtraction Osteotomies, which are typically associated with significant blood loss. Use of the BoneScalpel allows for efficient bone removal and helps to retain the local bone for spinal fusion."
His colleague, Dr. Isador Lieberman from Texas Back Institute in Plano, Texas added, "What once required one hour of meticulous decompression of compromised spinal nerves with mechanical tools can now be accomplished in less than 15 minutes and I am now routinely scheduling shorter operative times for my multi-level decompressions."
Michael A. McManus, Jr., President and Chief Executive Officer of Misonix comments, "We had an excellent NASS meeting with approximately 200 attendees visiting our exhibit seeking a product demonstration. The knowledge about BoneScalpel is clearly increasing, peer-to-peer referrals are creating a great deal of excitement and surgeons are increasingly requesting trials in the operating room."
Mr. McManus added, "We are extremely pleased by the expanding utilization of the BoneScalpel in advanced spinal surgeries for removal of pain causing nerve compressions and for performing complex osteotomies in spinal fusions and deformity surgeries. It is remarkable that numerous leading surgeons at the country's most important spine centers now consider the BoneScalpel as one of the most significant technological advances in spine surgery within the last decade. We are proud to have participated at this leading industry conference and gratified with the growing reputation of the BoneScalpel." |
