Arrhythmia Research Technology, Inc. Announces Extension Of Supply Agreement With Blue Belt Technologies, Inc.
FITCHBURG, Mass., Sept. 10, 2015 (GLOBE NEWSWIRE) -- Micron Products, Inc. (Micron), a wholly-owned subsidiary of Arrhythmia Research Technology, Inc. (NYSE:HRT), announced that it has entered into an extension of its multi-year supply agreement with Blue Belt Technologies, Inc. ("Blue Belt") to produce orthopedic implant components used in their STRIDE™ Unicondylar Knee System.
Salvatore Emma, Jr., President and CEO of Micron, stated, "We have renewed and extended our relationship with Blue Belt as the supplier of STRIDE™ implant components and trials. We think that the Navio® Surgical System's smart surgical instrument is a remarkable and disruptive technology, which holds great potential for orthopedic surgeons."
The STRIDE™ Unicondylar Knee System is Blue Belt's proprietary implant product for the Navio platform. Micron expects to manufacture knee implant components and trials for surgical kits to keep pace with the growing sales of Blue Belt's Navio systems, as well as on-going replenishment.
About Blue Belt Technologies, Inc.
Blue Belt Technologies, Inc. is developing the next generation of smart surgical instruments for initial use in orthopedic procedures. The Company's Navio® Surgical System incorporates patented technology to provide precise robotic control to surgeons via an intelligent, handheld, computer-assisted bone cutting tool. The Navio system provides robotic assistance to the surgeon while performing bone shaping tasks through minimally invasive incisions. The Company's STRIDE™ Unicondylar Knee system provides advanced implant features optimized for use with the Navio system.
For more information please visit: http://www.BlueBeltTech.com
About Arrhythmia Research Technology, Inc.
Arrhythmia Research Technology, Inc., through its wholly-owned subsidiary, Micron Products, Inc., is a diversified contract manufacturing organization that produces highly-engineered, innovative medical device technologies requiring precision machining and injection molding. The Company also manufactures components, devices and equipment for military, law enforcement, industrial and automotive applications. In addition, the Company is a market leader in the production and sale of silver/silver chloride coated and conductive resin sensors used as consumable component parts in the manufacture of integrated disposable electrophysiological sensors. The Company's strategy for growth is to build a best-in-class quality organization and capitalize on its engineering design expertise and reliable, proprietary manufacturing processes to further penetrate the medical device contract manufacturing market.
The Company routinely posts news and other important information on its websites:
http://www.arthrt.com, http://www.micronproducts.com and http://www.micronmedical.com
Safe Harbor Statement
Forward-looking statements made herein are based on current expectations of Arrhythmia Research Technology, Inc. ("our" or the "Company") that involve a number of risks and uncertainties and should not be considered as guarantees of future performance. The factors that could cause actual results to differ materially include our ability to retain order volumes from customers who represent significant proportions of net sales; our ability to maintain our pricing model, offset higher costs with price increases and/or decrease our cost of sales; variability of customer delivery requirements; the level of sales of higher margin products and services; our ability to renew our credit facility and manage our level of debt and provisions in the debt agreements which could make the Company sensitive to the effects of economic downturns and limit our ability to react to changes in the economy or our industry; failure to comply with financial and other covenants in our credit facility; volatility in commodity and energy prices and our ability to offset higher costs with price increases; continued availability of supplies or materials used in manufacturing at competitive prices; variability of customer delivery requirements; variations in the mix of products sold; and the amount and timing of investments in capital equipment, sales and marketing, engineering and information technology resources. More information about factors that potentially could affect the Company's financial results is included in the Company's filings with the Securities and Exchange Commission.
CONTACT: For more information on Micron Products, Inc. or Arrhythmia Research Technology, Inc., contact: Investor and Media Contact: Deborah K. Pawlowski Kei Advisors LLC 716.843.3908 dpawlowski@keiadvisors.com Company Contact: Derek T. Welch Chief Financial Officer 978.345.5000 For more information on Blue Belt Technologies, Inc., contact: Adam Simone 763.452.4917 asimone@bluebelttech.com
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