Hot off the press........Ben
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Universal Medical To Acquire Rights To New Radiation Therapy System
PR Newswire - May 12, 1997 13:56
CLEARWATER, Fla., May 12 /PRNewswire/ -- Universal Medical Systems, Inc.
(OTC Bulletin Board: UMSI) (UMSI) today announced it has reached an agreement
with Nova Therapeutic Systems, Inc. for the acquisition of the rights to the
Cobalt Scalpel, a non-invasive, focused radiation therapy system to treat
cancer.
M. A. Baker, President of UMSI, stated that this is another step in the
aggressive acquisition program of the company. Last year UMSI acquired MHTI,
a company engaged in the radiotherapy business with its CT simulator and
virtual Simulator systems. These systems will now become an integral part of
the cobalt scalpel system. The company can now provide all of the major
components of a radiation therapy facility thereby increasing the portfolio of
products for its marketing network.
The rights acquired by UMSI include development, manufacturing and
international marketing and distribution. The system will be marketed as the
UMSI Cobalt Knife. Dr. Robert Rand, chairman of Nova, is a pioneer in the
field of non-invasive stereotactic radiosurgery. As a world renowned
neurosurgeon, he is most qualified to provide technical expertise to UMSI. A
patent has been granted and FDA clearance was obtained in June of 1996.
Plans are to complete the acquisition in June, at which time a vigorous
international marketing program will be launched. Management believes it can
sell a minimum of six systems during the next fiscal year. Each system will
generate approximately $2.0 million.
The Cobalt Knife is designed for the treatment of tumors throughout the
entire body, with minimal risk to the surrounding tissue. The system is very
patient friendly, in that, radiation can be delivered to the tumor, usually in
one treatment, due to the extreme accuracy of the system. There is minimal
hospital stay, better treatment, and a significantly lower treatment and
equipment cost than other alternative systems. The Gamma Knife, which is
widely used throughout the world, is a similar technology, but has a much
higher equipment and facility cost, and more importantly, is limited to the
treatment of brain tumors. The linear accelerator, used for all tumor therapy
applications, requires a series of treatments over many weeks, and again, both
the procedure and equipment cost is higher than the Cobalt Knife.
UMSI, which trades under the OTC symbol "UMSI", is a leader in the
development of high-technology medical diagnostic and treatment systems for
its targeted markets.
SOURCE Universal Medical Systems, Inc.
CONTACT: Myron A. Baker, Universal Medical Systems, 813-535-2022, or
fax, 813-536-9707 |
