News
Tuesday June 16, 9:32 am Eastern Time
Company Press Release
American BioMed Inc. Signs New United Kingdom Distributor
THE WOODLANDS, Texas--(BW HealthWire)--June 16, 1998--American BioMed Inc. (OTC Bulletin Board: ABMI -
news), Tuesday announced that CLS Medical Ltd. of Newcastle, England has joined American BioMed's global distribution
network.
Founded in 1982, CLS Medical Ltd., specializes in marketing leading edge, vascular surgical products. With sales
representatives throughout the United Kingdom, CLS will offer complete promotional coverage for American BioMed's 100%
silicone balloon catheter product line.
Chris Bond, managing director of CLS stated, ''We are excited about the opportunity to promote a product line that we
believe is safer to use and clinically superior to other products currently on the market.'' CLS has placed initial stocking orders
and product training is scheduled to be completed in June.
Commenting on the addition of CLS, Marshall Kerr, vice president of Sales and Marketing for American BioMed said, ''We
will continue to add quality distributors like CLS to further increase our market share. Current evaluations in Germany and
France are expected to be finalized by the end of the third quarter, which will complete our European distribution network.''
According to Kerr, the United Kingdom represents one of the largest markets in Europe for the company's products, with
France and Germany representing a close second.
Currently, American BioMed has 10 distributors covering the North American market. With the addition of CLS, the
company's 15 international distributors provide distribution in Spain, Italy, Turkey, Australia, New Zealand, Belgium, Denmark,
Greece, Japan, Luxembourg, The Netherlands, Norway, Sweden, Korea, Taiwan, India, the Caribbean, and now the United
Kingdom.
American BioMed utilizes state-of-the-art technology to develop, manufacture and market minimally invasive medical devices
for the treatment of cardiovascular disease. The company's products include 100%-silicone catheters, through its Cathlab
subsidiary; the Evert-O-Cath(TM), a toposcopic catheter for site-specific drug delivery and fluid removal, the OmniCath(R),
an atherectomy catheter designed to remove atherosclerotic plaque from obstructed blood vessels throughout the body; and the
OmniFilter, which is used to prevent blood clots from reaching various organs of the body. The company has over 25 patents
and 11 FDA approvals covering its product portfolio, and addresses an annual worldwide market estimated to be in excess of
$10 billion.
''Safe Harbor'' statement under the Private Securities Litigation Reform Act of 1995: The statements that are not historical facts
contained in the release are forward-looking statements that involve risks and uncertainties including, but not limited to, the
results of research and development efforts, the results of preclinical and clinical testing, the effect of regulation by the FDA and
other agencies, the impact of competitive product development, commercialization and technological difficulties, the results of
financing efforts, the effect of the company's accounting policies, and other risks detailed in the company's Securities and
Exchange Commission filings. |
