Another distribution deal:
Distribution of The Heart Laser System For TMR in China
FRANKLIN, Mass., Feb. 19 /PRNewswire/ -- PLC Systems Inc. (Amex: PLC)
today announced that its international subsidiary PLC Medical Systems, A.G.
has entered into an exclusive distribution agreement with U.S. - China
Industrial Exchange (Chindex) (Nasdaq: CHDX) for the distribution of The Heart
Laser(TM) System in China. Under the agreement, first shipments of The Heart
Laser System for TMR are expected to begin in the second half of 1998.
Mr. William C. Dow, President and CEO of PLC Systems Inc., stated, "We
believe Chindex is the premier medical marketing company in China today, and
the best company to effectively establish and build a nation-wide installed
base for The Heart Laser System in China. Our agreement with Chindex enables
us to expand The Heart Laser System into a vast new cardiac marketplace."
PLC Systems currently has four Heart Laser Systems in China and Hong Kong.
Cardiovascular disease is expected to have an increasing and massive impact on
China in terms of economic costs and burden of illness. TMR using The Heart
Laser System offers a low cost and minimally invasive approach to treating
coronary artery disease (CAD) particularly in Asian patients where the nature
of CAD is quite often multiple and diffuse, and difficult to treat by
conventional methods.
Ms. Roberta Lipson, President and CEO of Chindex added, "We have been
active in the cardiology and cardiosurgical market segments for more than 15
years in China. The Heart Laser System has tremendous market potential in
China, and provides a new and innovative therapy for ischemic heart disease
which has growing acceptance worldwide. Chindex will continue to capitalize
on its extensive contacts throughout the cardiac care community in China to
accomplish our goal of bringing The Heart Laser System into common use in
heart centers across the country."
TMR, or transmyocardial revascularization, uses The Heart Laser(TM)
System, a high-powered, computer controlled carbon dioxide (CO2) laser to
place channels into oxygen deprived heart muscle of coronary artery disease
patients. Although the exact mechanism of action is unknown, some researchers
believe these channels provide blood directly from the left ventricle to the
deprived areas of the heart muscle, while others believe that angiogenesis
(the formation and differentiation of blood vessels) also occurs. Recovery is
generally quicker than that following bypass surgery. No blood transfusion is
needed, and since the procedure is performed on a beating heart, there is no
need for a heart-lung machine. The characteristics of The Heart Laser System
surgery offer the potential of cost savings for the hospital and increased
quality of life for the patient.
Chindex is the largest independent American distributor of Western health
care products in the People's Republic of China including Hong Kong and Macau.
The company has 200 employees and provides representative and distribution
services to a number of Fortune 500 companies including Johnson & Johnson and
Acuson. It also operates a private hospital corporation in China which is
building a network of international-style hospitals and outpatient facilities
in five major metropolitan areas. The first of these hospitals, Beijing
United Family Hospital, began admitting patients earlier this year.
PLC Systems Inc. is a cardiac revascularization company developing medical
systems and technology with the potential to provide patients suffering from
coronary artery disease a third alternative to angioplasty and cardiac bypass
surgery. PLC Medical Systems, Inc., a wholly owned subsidiary of PLC Systems
Inc., has developed The Heart Laser which uses PLC's patented technology for a
new cardiosurgical procedure known as Transmyocardial Revascularization (TMR).
The Company has been granted expedited review of its PreMarket Approval (PMA)
application for TMR using The Heart Laser to treat cardiac patients with
medically refractory angina who are not candidates for angioplasty or bypass
surgery. |
