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Thursday March 26, 10:51 am Eastern Time
Company Press Release
American Biomed Signs Four Additional North American Distribution Agreements
THE WOODLANDS, Texas--(BW HealthWire)--March 26, 1998--American BioMed, Inc. (OTC Bulletin Board: ABMI - news), a manufacturer of minimally invasive medical devices for the treatment of cardiovascular disease, today announced it has signed distribution agreements with Associated Health Systems, Mercury Medical, Progressive Medical and Medical Marketing for the company's 100% silicone-based balloon catheter product line.
Associated Health Systems of Edmonton, Alberta, Canada, in alliance with Medique of Montreal, OmniMed of Toronto and Braemed of Halifax, have agreed to market and distribute the company's products throughout Canada. Training with their sales force has been completed and the introductory product launch is underway.
Mercury Medical of Clearwater, Florida, will distribute product to six Southeastern states including Alabama, Tennessee, Georgia, Florida and the Carolinas. Stanley Tangalakis, president of Mercury Medical, commented, ''We are very excited to add American BioMed's quality products to our existing product offering.''
Progressive Medical, a medical products distributor with headquarters in St. Louis, Missouri, will distribute ABMI's products in the Midwestern United States. Progressive Medical's sales force of 15 will allow for the complete coverage of this region, and plans to have all training completed in April.
The Mid-Atlantic states will be supplied by Medical Marketing, of Lutherville, Maryland, a well-established medical products distributor that will focus its sales efforts in the District of Columbia, Virginia and Maryland.
Marshall Kerr, American BioMed's Vice President of Sales and Marketing, stated, ''To support the full-scale promotion of the company's balloon catheter products, initial stocking orders have been placed. These additional distributors will give American BioMed complete sales coverage in North America for the first time in the company's history. Also, American BioMed expects to announce in the near future additional international distributors to expand upon its growing global distribution network.''
American BioMed, Inc. utilizes state-of-the-art technology to develop, manufacture and market minimally invasive medical devices for the treatment of cardiovascular disease. The company's products include: 100% silicone-based catheters, through its Cathlab subsidiary; the Evert-O-CathT, a toposcopic catheter for site-specific drug delivery and fluid removal; the OmniCath, an atherectomy catheter designed to remove athersclerotic plaque from obstructed blood vessels throughout the body; the OmniStentT, which uses stent technology for angioplasty and atherectomy procedures; and the OmniFilter, which is used to prevent blood clots from reaching various organs of the body. The company has over twenty five patents covering its product portfolio, and the combined worldwide market is estimated at over $10 billion annually.
''Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this release are forward looking statements that involve risks and uncertainties, including, but not limited to, the results of research and development efforts, the results of pre-clinical and clinical testing, the effect of regulation by the United States Food and Drug Administration (FDA) and other agencies, the impact of competitive products, product development, commercialization and technological difficulties, the results of financing efforts, the effect of the Company's accounting policies, and other risks detailed in the Company's Securities and Exchange Commission filings.
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Contact:
Company Contact:
Steven B. Rash
President and Chief Executive Officer
American BioMed, Inc.
281/367-3895
or
Investor Relations:
Lippert/Heilshorn & Assoc., Inc.
Sue Yeoh (sue@lhai.com)
212/838-3777
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