FARMINGDALE, N.Y., Dec. 10 /PRNewswire-FirstCall/ -- Misonix, Inc. , a developer of minimally invasive ultrasonic medical device technology, which in Europe is used for the ablation of tumors and worldwide for other acute health conditions, today announced it has extended its distribution agreement for the Lysonix(R) 3000 Ultrasound Assisted Liposuction System with Santa Barbara, CA, based Mentor Corporation for an additional year. Under the terms of the agreement extension, Mentor retains exclusive distribution rights for Lysonix in the U.S. and gains non-exclusive rights for certain foreign markets. Minimum purchase requirements apply to both U.S. and world markets and represent significant growth over the previous year.
Mentor Corporation is a leading supplier of medical product for the global aesthetic market. Mentor develops, manufactures and markets innovative, science-based products for surgical and non-surgical medical procedures that allow patients to retain a youthful appearance while improving personal well-being.
Liposuction is a major product segment within the multi-billion dollar aesthetic procedure market, with the number of procedures in the U.S. exceeding 400,000 per year, as reported by the American Society of Plastic Surgeons. The Lysonix 3000 Ultrasound Assisted Liposuction System provides multiple benefits to both patient and physician versus other liposuction methods, including small incision sites, targeted fat removal, reduced bleeding, reduced bruising, and faster procedure time.
"Misonix is quite pleased to continue our long-term association with Mentor, a major force in the aesthetic surgery market. We look forward to continuing our collaboration in growing the ultrasound assisted liposuction market while exploring other potential applications for this valuable surgical tool," said Michael A. McManus, Jr., President and Chief Executive Officer of Misonix.
Misonix, Inc. designs, develops, manufactures and markets therapeutic ultrasonic medical devices and laboratory equipment. Misonix's therapeutic ultrasonic platform is the basis for several innovative medical technologies. Addressing a combined market estimated to be in excess of $3 billion annually; Misonix's proprietary ultrasonic medical devices are used for wound debridement, cosmetic surgery, neurosurgery, laparoscopic surgery, and other surgical and medical applications. Additional information is available on the Company's Web site at www.misonix.com.
With the exception of historical information contained in this press release, content herein may contain "forward looking statements" that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include general economic conditions, delays and risks associated with the performance of contracts, risks associated with international sales and currency fluctuations, uncertainties as a result of research and development, acceptable results from clinical studies, including publication of results and patient/procedure data with varying levels of statistical relevancy, risks involved in introducing and marketing new products, potential acquisitions, consumer and industry acceptance, litigation and/or court proceedings, including the timing and monetary requirements of such activities, the timing of finding strategic partners and implementing such relationships, regulatory risks including approval of pending and/or contemplated 510(k) filings, the ability to achieve and maintain profitability in the Company's business lines, and other factors discussed in the Company's Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company disclaims any obligation to update its forward-looking relationships.
CONTACT: Richard Zaremba, Misonix, +1-631-694-9555, email@example.com; or
Investor Relations, Kevin McGrath, Cameron Associates, Inc.,
Web site: http://www.misonix.com/