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Cordis Corporation (JNJ) Signs Definitive Agreement with Medinol Ltd. for Global Distribution of Bare Metal Stents


5/23/2007 12:41:32 PM

MIAMI LAKES, Fla., and TEL AVIV, Israel, May 23 /PRNewswire/ -- Cordis Corporation today announced that it has signed a definitive agreement whereby it will become the exclusive global distributor of a family of bare metal stents for coronary applications developed by Medinol.

Cordis will have access to Medinol's latest generation stainless steel and cobalt chromium bare metal stents. Medinol's advanced stents balance deliverability, conformability and scaffolding qualities to provide ease of use, safety and long-term results.

Cordis Corporation and Medinol will work together to obtain necessary approvals to market the products globally from U.S. and other regulatory authorities.

"We are pleased to provide physicians with an increasing array of products for their interventional procedures," said Rick Anderson, Company Group Chairman, Cordis Corporation.

"The partnership of Medinol and Cordis, the global leader in interventional cardiology, is ideal for physicians and the patients they treat," said Kobi Richter, Ph.D., Chairman and Chief Technology Officer, Medinol. "With our broad product portfolio, physicians can choose the stent that best meets the needs of each individual patient. We are excited about the opportunity to present our current and future technologies to physicians through our partnership with Cordis."

Cordis Corporation estimates that the first applications for approval of the Medinol bare metal stent products will be filed outside the United States in the second half of 2007 and in the United States in the first half of 2008.

About Medinol

Medinol is a pioneer in stent technologies and a leader in innovating stent designs and manufacturing technologies. The company is privately owned and its manufacturing facilities are located in the Har-Hotzvim industrial park in Jerusalem.

About Cordis Corporation

Cordis, a Johnson & Johnson company, is a worldwide leader in the development and manufacture of interventional vascular technology. Through the company's innovation, research and development, Cordis partners with interventional cardiologists worldwide to treat millions of patients who suffer from vascular disease. More information about Cordis Corporation can be found at http://www.cordis.com.

Cordis Corporation

CONTACT: Christopher Allman of Cordis Corporation, (w) +1-786-313-2303,(m) +1-305-586-6024, callman1@crdus.jnj.com; or Ms. Mor Avrahami ofMedinol, (w) +972-3-7679001, (m) +972-54-2555549, mor@medinol.com


Read at BioSpace.com


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