Monday May 12 9:27 AM EDT
Company Press Release
Prime Medical Services, Inc. announces Prostatron joint venture
AUSTIN, Texas--(BUSINESS WIRE)--May 12, 1997--Prime Medical Services, Inc. (``Prime'')
(Nasdaq/NM:PMSI), the nation's leading provider of lithotripsy services, announced today that it has finalized the
formation of a joint venture with EDAP Technomed, Inc. (``EDAP''), the manufacturer of the Prostatron(R) Microwave
thermotherapy device (the ``Prostatron(R)) used in the treatment of benign prostatic hyperplasia (BPH) and the only
Federal Drug Administration (FDA) approved device for microwave thermotherapy.
BPH is the non-cancerous enlargement of the prostate which restricts the urethra, thus making voiding difficult, and
typically beginning to appear in men in their 50's and negatively impacting the quality of life of most men by the time they
are 65. Symptoms associated with BPH affect the quality of life of an estimated 7.5 million men in the United States. As
a result of the aging population, the number of men suffering moderate to severe symptoms of BPH is expected to double
in the United States by the year 2020. Despite the fact that only a small portion of sufferers seek treatment, BPH related
expenditures in the United States are estimated to be $5 billion annually. While drug therapy is the most common form of
treatment, over 350,000 men annually undergo surgical treatment for BPH.
Dr. Joseph Jenkins, president, stated, ``The provision of prostatherapies provides us with an opportunity to work
together with urological surgeons to provide a new treatment to their patients, hospitals and surgery centers. We are
excited about the enthusiasm we have received from the partnerships we are currently developing.''
EDAP is an international company, which is engaged in the development, manufacture and distribution of minimally
invasive therapeutic devices for the treatment of urological diseases. EDAP Technomed pioneered the development of
microwave thermotherapy with the Prostatron(R) and remains the worldwide leader in this field.
Lithotripsy is a cost-effective, non-invasive method for treating kidney stones through the use of extracorporeal shock
waves which pulverize kidney stones and permit them to pass painlessly from the body. Prime Medical is the largest
operator of lithotripters in the United States, currently treating over 34,000 patients annually, through contracts with
approximately 400 hospitals and 255 managed care companies. Prime Medical operates a fleet of 55 lithotripters in 32
states. Prime is developing mobile Prostatron(R) routes to provide services to hospitals and surgery centers to treat
benign prostatic hyperplasia (BPH). |
