MSON news release.......
Misonix, Inc. Announces Initial Probe Order From United States Surgical
Corporation
PR Newswire - December 04, 1997 12:22
MSON USS %MTC V%PRN P%PRN
Jump to first matched term
Also Receives Additional Order For Ultrasonic Surgical Technology
FARMINGDALE, N.Y., Dec. 4 /PRNewswire/ -- Misonix, Inc. (Nasdaq: MSON)
today announced that the Company has received an initial order from United
States Surgical Corporation (NYSE: USS) for the manufacture of probes to be
used with USS's AutoSonix* cutting device, as well as a follow-up order for
ultrasonic generators and transducers, which are the main components of the
ultrasonic cutting system. The AutoSonix* system uses high-frequency sound
waves to coagulate and divide tissue in both open and laparoscopic surgery.
These orders totaled $3.8 million.
In October 1996, Misonix entered into an exclusive license agreement with
USS covering the further development and commercialization of the Company's
medical technology relating to ultrasonic cutting. The license agreement
gives USS exclusive worldwide marketing and sales rights to this technology.
Dr. Joseph Librizzi, President and Chief Executive Officer of Misonix,
said, "We are pleased with the continued development of our relationship with
U.S. Surgical. With the addition of these two new orders, Misonix has now
received orders from U.S. Surgical totaling over $5 million for its devices
and related products."
Separately, the Company announced that market acceptance of the Lysonix
2000 Ultrasonic Soft Tissue Aspirator remains positive; however, based on
Lysonix's current inventory level, Misonix anticipates that orders will not
resume until the second calendar quarter of 1998.
In December 1995, Misonix entered into a license agreement with Medical
Device Alliance, Inc. (MDA), giving MDA exclusive worldwide marketing and
sales rights for Misonix's ultrasonic soft tissue aspiration medical device.
The device is marketed and sold by Lysonix Inc., a wholly-owned subsidiary of
MDA, under the Lysonix 2000 name.
Misonix, Inc. develops, manufactures, and/or markets medical, scientific,
and industrial ultrasonic and air pollution systems.
United States Surgical Corporation is a diversified surgical products
company specializing in minimally invasive technologies that improve patient
care and lower health care costs.
* Trademark of United States Surgical Corporation.
Forward Looking Statements: Statements in this news release looking
forward in time are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Investors are cautioned that
forward-looking statements involve risks and uncertainties, including general
economic conditions, delays and risks associated with the performance of
contracts, consumer and industry acceptance, and regulatory risks.
SOURCE Misonix, Inc.
/CONTACT: Cheryl Schneider, Tessa Lavender, or Press: Michael McMullan of
Morgen-Walke Associates, 212-850-5600, for Misonix/
(MSON USS)
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