A New Release and A Good Partner:
General Surgical Innovations Signs Distribution Agreement with Baxter
International
Baxter International to Distribute GSI Cardiovascular Products in Seven European Countries
CUPERTINO, Calif., March 5 /PRNewswire/ -- General Surgical Innovations, Inc. (GSI) (Nasdaq: GSII - news) announced
today that its Cardiovascular Group signed an exclusive agreement with Baxter International, granting them rights to distribute
GSI's cardiovascular products in France, Austria, Switzerland, Denmark, Norway, Sweden and Finland.
''We believe that the cardiovascular area represents a key opportunity for our balloon dissection technology and this new
agreement solidifies our commitment to growing our distribution network in international markets,'' stated Gregory D. Casciaro,
President and Chief Operating Officer of GSI. ''Baxter International has the marketing and distribution resources needed to
significantly expand our presence in this high-growth market and we look forward to a long and successful relationship with them.''
The agreement covers distribution of GSI's entire portfolio of cardiovascular products, including the ENDOSAPH(TM) Vein
Harvest System for the minimally invasive harvesting of the saphenous vein, the surgical balloon dissector for subfascial
endoscopic perforator surgery (SEPS); and the SAPHtrak(TM) surgical balloon dissector for minimally invasive access to the
saphenous vein. The ENDOSAPH Vein Harvest System includes the SAPHfinder(TM) surgical balloon dissector, which allows
visualization for precise tracking of the saphenous vein, the SPACEKEEPER(TM) retractor, which provides improved exposure to
the saphenous vein and a significant working space for instrument manipulation. GSI's Hook and Fork dissectors are reusable
instruments also used during minimally invasive saphenous vein harvesting which the company believes contribute to making these
procedures more cost effective for the payer.
The company also recently signed exclusive agreements with seven international distributors granting them rights to distribute
GSI's cardiovascular products in Belgium, England, Germany, Holland, Ireland, Northern Ireland, Italy, Portugal, Scotland, Spain
and Wales.
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, Calif., 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, please visit the company's World Wide Web site at www.gsii.com.
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements,
the accuracy of which is necessarily subject to risks and uncertainties. Future market development and demand for the company's
products, among other matters discussed in this release, may differ significantly from the discussion of such matters in the
forward-looking statements. Such differences may be based upon factors within General Surgical Innovations' control, such as
strategic planning decisions by management and reallocation of internal resources, or on factors outside of General Surgical
Innovations' control, such as scientific advances by third parties, introduction of competitive products and delays by regulatory
authorities, as well as those factors set forth under the heading ''Factors Affecting Future Results'' in General Surgical
Innovations' Annual Report on Form 10K for the year ended June 30, 1997, Form 10Q for the quarter ended September 30, 1997,
Form 10Q for the quarter ended December 31, 1997, and other company filings with the Securities and Exchange Commission. |
