VERY big press release the other day.
General Surgical Innovations and Ethicon
Endo-Surgery, Inc. Revise Distribution
Agreement Companies Sign Non-Exclusive
Agreement for Hernia and Urinary Stress <>
February 24, 1998
CUPERTINO, Calif., Feb. 23 /PRNewswire/ via Individual Inc. -- General Surgical
Innovations, Inc. (GSI) (Nasdaq: GSII) announced today that it signed a non-exclusive
distribution agreement with Ethicon Endo-Surgery, Inc. (EES), a Johnson & Johnson
company,(NYSE: JNJ) granting them worldwide rights to distribute GSI's
SPACEMAKER(R) balloon dissector products in the laparoscopic hernia repair and
urinary stress incontinence (USI) markets.
The agreement supersedes the December 1996 contract which granted EES exclusive
worldwide sales and marketing rights to distribute GSI's SPACEMAKER(R) balloon
dissector products in the laparoscopic hernia repair and USI markets.
"This agreement will allow GSI to expand our domestic and international distribution
network, enhancing our ability to increase market share in the hernia repair and USI
markets," stated Gregory D. Casciaro, President and Chief Operating Officer of GSI.
"Ethicon is a strong partner and we look forward to continuing our relationship with
them under this new agreement. We believe that the hernia repair and USI markets
represent a key opportunity for GSI's proprietary technology and our Technology
Alliance Group will continue to focus on further growing our distribution network in
these areas."
GSI's patented SPACEMAKER tissue dissection systems, based on the company's
patented balloon technology, more rapidly and gently create surgical working spaces by
separating natural tissue planes without resorting to blunt dissection used in
conventional open surgery or minimally invasive surgery conducted outside of a natural
body cavity. In procedures using SPACEMAKER dissectors, a surgeon creates a small
incision through which the balloon is inserted and placed between naturally occurring
tissue layers such as muscle, fat and skin. Subsequently, the balloon is filled to a
specific volume with air or saline, causing the desired dissection of the tissue planes.
The balloon is then removed and the dissected space can be insufflated to open the
surgical operating space created by the use of the SPACEMAKER system.
Headquartered in Cupertino, California, General Surgical Innovations, Inc. develops,
manufactures and sells tissue dissection systems based on the company's patented
balloon technology for minimally invasive surgical procedures. The company's products
are specifically designed for endoscopic and laparoscopic techniques for use in general,
vascular, thoracoscopic, orthopedic, cosmetic and reconstructive surgeries to create an
operating space at the surgical site, which the company believes lessens tissue damage
and improves patient recovery time. The company has developed a broad range of
balloon shapes and sizes to be used for various surgical techniques, procedures and
market segments. GSI distributes its products worldwide through a network of
distribution partners and a direct sales force. For additional information, visit the
company's World Wide Web site at gsii.com.
Lots of motion going on with the company. Any comments? |
