Uroplasty Announces Proposed Purchase of Empi Product Line
MINNEAPOLIS, Aug. 23 /PRNewswire/ -- Uroplasty, Inc.
(OTC Bulletin Board: UROP) announced today it signed a Letter of Intent with
Empi, Inc. (Nasdaq: EMPI) to purchase Empi's Clinical EMG System, a
biofeedback device used to treat urinary incontinence.
Under terms of the proposed agreement, Uroplasty will pay $400,000 in 1999
for the System. Closing of the transaction is subject to certain conditions,
including the negotiation and execution of a definitive agreement and
Uroplasty's due diligence review of certain software related to the System.
Uroplasty designs, manufactures and markets medical products primarily for
the treatment of urinary incontinence. Its principal product, Macroplastique,
has received an Investigational Device Exemption (IDE) from the Food and Drug
Administration to begin a US clinical study. Macroplastique is an injectable
treatment for female stress urinary incontinence. Uroplasty's stock is
currently traded locally Over The Counter (OTC) under the symbol "UROP".
In an attempt to provide assistance in understanding its anticipated
future financial performance, the Company may from time to time make written
or oral "forward-looking statements" such as may be contained in this news
release and elsewhere. "Forward-looking statements" are, however, by their
very nature, subject to known and unknown risks and uncertainties relating to
the Company's future performance that may cause the actual results,
performance or achievements of the Company, or the industry, to differ
materially from those expressed or implied in any such "forward-looking
statements."
Investors are cautioned that any "forward-looking statements" made by the
Company here or elsewhere are qualified by and subject to the warnings and
cautionary statements contained above and in the "Risk Factors" and "Forward
Looking Statements" sections of its Annual Report on Form 10-KSB to the SEC
for the year ended March 31, 1999.
For further information visit the Company's web page at
uroplasty.com
SOURCE Uroplasty, Inc.
-0- 8/23/99
/CONTACT: Daniel G. Holman, President, CEO of Uroplasty, Inc.,
612-378-1180, fax 612-378-2027, e-mail danielh@uroplasty.com /
/Web site: uroplasty.com /
(UROP EMPI)
CO: Uroplasty, Inc.; Empi, Inc.
ST: Minnesota
IN: MTC
SU: TNM
*** end of story *** |
