AVE Signs Agreement With Tenet
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SANTA ROSA, Calif., June 30 /PRNewswire/ -- Arterial Vascular Engineering, Inc. (''AVE'') (Nasdaq: AVEI - news) today announced that it has entered into an agreement with Tenet Healthcare Corporation (NYSE: THC - news) to supply AVE's coronary stent systems.
Scott Solano, AVE's President and CEO said, ''Tenet Hospitals represent a significant base of business for AVE. George Quinoy, AVE's Director of Sales, and his National Accounts team have done an outstanding job in constructing a mutually beneficial agreement with this nationally recognized organization. The initial acceptance of AVE technology within Tenet facilities has been outstanding. This agreement enhances our current and future opportunities in bringing AVE stent technology to interventional cardiologists performing procedures in Tenet hospitals.''
Headquartered in Santa Rosa, California, Arterial Vascular Engineering, Inc. is a leading provider of highly specialized stent and balloon angioplasty systems for less invasive treatment of cardiovascular disease. AVE sells its stent and balloon angioplasty systems in more than 40 countries, and its coronary stent systems in the United States.
Except for the historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties, including variations in the level of sales and earnings, the ability to manage growth effectively and to adequately increase personnel, the ability to cost-effectively establish, maintain or manage a suitable sales force, the effects of competition and pricing pressure, the rapid and significant technological change that characterizes the medical device industry and the ability to continue to respond to such technological change, and the ability to successfully introduce and achieve market acceptance for new products and continued demand for products generally, as well as the other risks detailed from time to time in documents filed by AVE with the SEC, including the report on Form 10-K for the year ended June 30,1997.
SOURCE: Arterial Vascular Engineering, Inc.
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