Austin Medical Technologies, Inc. Secures Six-Year Contract with Eagle Laboratories to Private Label Under the eyeDirecti Brand
PLANO, Texas, Aug 25, 2004 (BUSINESS WIRE) -- Austin Medical Technologies, Inc.
(Pink Sheets:AMTK), partners with Eagle Laboratories as a key supplier of
Single-Use Cannula, which are offered in all eyeDirecti Ophthalmic Surgical
Packs. Our annual volume with Eagle has doubled two years consecutively.
AMTK is moving rapidly in the direction of strengthening the eyeDirecti "Brand"
by private labeling of products. AMTK additionally has moved to an exclusive
relationship with our drape manufacturer to private label custom ophthalmic
drapes used in surgery. This move will improve our current gross profit by as
much as 25%.
Kurt Tarter, President & CEO stated, "The six-year relationship with Eagle Labs
has delivered significant value to our customers and allowed eyeDirecti to
compete most effectively against our multi-billion dollar competitors."
Rich De Camp, Vice President of Eagle Labs stated, "Our reciprocating
relationship with eyeDirecti has been mutually beneficial as it has helped our
company to grow market share while delivering enhanced value to eyeDirecti's
customers."
About Eagle Labs
Founded in 1988 by Dennis M. De Camp, Eagle Laboratories celebrates 15 years of
continuous growth as a leading manufacturer of Single-Use Ophthalmic Products
worldwide. Eagle's manufacturing facility is located in Rancho Cucamonga, Calif.
Eagle Laboratories is now a leading source of Single-Use Ophthalmic Surgical
Products. Eagle manufactures one of the largest selections of Ophthalmic
Cannulae available today, to include a wide variety of Ophthalmic Products
encompassing; Surgical Knives, Vitreoretinal Products, Ophthalmic Drapes, Fluid
Administration Sets, I.V. Lines, Surgical Sponge Products, Products for LASIK,
and products for Occuloplastic and Glaucoma Surgery. Eagle Laboratories
guarantee their products are manufactured with the highest quality standards.
Eagle Laboratories complies with the U.S. Food and Drug Administration. The
Manufacturing facility is ISO 9001 Registered and all Eagle Products Carry the
European Union CE Mark registration.
About Austin Medical Technologies, Inc./eyeDirecti(TM) (Brand)
Austin Medical Technologies delivers "DIRECT" from the manufacturer to the
Surgeon, the only technology based, "Single Source Supply Solution" for custom
sterile surgery trays made up of 80% of all disposable surgical devices utilized
in surgery. Currently the company has contracted with 200 eye surgery centers
including the 2 largest eye surgery centers in the USA. The market for custom
sterile surgery trays is a $2.1 Billion market here in the USA.
Austin Medical is dedicated exclusively to the Ambulatory Surgery Center (ASC)
market. Ambulatory Surgery Centers (ASC), also called outpatient surgery, and
same-day surgery, refers to surgical procedures which are complex enough to
require a dedicated operating room and specially trained staff, but do not
require an overnight stay. According to 1996 U.S. government statistics,
ambulatory surgery centers account for 31 million or 44% of the total surgeries
performed in the United States. Five million surgeries were performed on eyes.
New surgical techniques such as laser surgery allow procedures to be done more
quickly and/or with less surgical trauma.
Under the brand name eyeDirecti, Austin Medical is initially focused on
Ophthalmology owned and operated surgery centers which is the fastest growing
segment of the ASC market, growing by 25% per annum, consisting of 2,500
practices with 15,000 surgeons performing over 5 million surgical procedures
annually at a supply cost of $400 million per year. Austin Medical is positioned
to capture $40 million (10%) of this $400 million market within the next 4
years. Visit our e-commerce site at www.eyedirecti.com
SOURCE: Austin Medical Technologies, Inc.
CONTACT:
Austin Medical Technologies, Inc.
Keith Tarter, 972-370-0197
investors@austinmedtech.com
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