Misonix Incorporated Announces Interim Distribution Agreement for Italy
FARMINGDALE, N.Y., Nov. 3 /PRNewswire-FirstCall/ -- Misonix, Inc. , a developer of minimally invasive ultrasonic medical device technology, which in Europe is used for the ablation of cancer and worldwide for other acute health conditions, has entered into an interim distribution agreement with Lithomobile, a Division of Alliance Medical S.r.l., based in Milano, Italy. Under the terms of the agreement, Lithomobile will provide the Sonablate(R) 500 High Intensity Focused Ultrasound (HIFU) System, on a mobile fee for service basis, to two hospitals, Ospedale S. Michele and Casa di Cura Arco dell' Angelo, both located in Cagliari, Sardinia. Misonix will supply the equipment and support services, and, in return, will receive the bulk of the revenue. Lithomobile and Misonix are in negotiations for a definitive agreement for distribution of the Sonablate throughout Italy.
Divisione Lithomobile is well known in Italy as a premier distributor of mobile lithotripsy services, as well as their successful representation of capital equipment for oncology and other medical specialties.
The Sonablate is a state of the art HIFU instrument used for the trans-rectal ablation of tumors of the prostate gland. Characteristics of HIFU, when used for this purpose, are clinical outcomes similar to other treatment modalities, but with low instances of urinary incontinence and sexual impotence.
"Misonix is pleased to partner with Lithomobile to provide prostate HIFU to two important hospitals in Sardinia. Lithomobile's reputation as a high-profile distributor of advanced medical equipment in Italy is well known to us," said Michael A. McManus, Jr., President and Chief Executive Officer of Misonix. "Lithomobile's experience with the mobile fee for service business segment makes Lithomobile a particularly appealing distribution partner, whose strengths blend well with Misonix's business strategy for HIFU."
About 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 of Misonix, +1-631-694-9555, invest@misonix.com;
or Investor Relations, Kevin McGrath of Cameron Associates, Inc., for
Misonix, +1-212-245-4577, Kevin@cameronassoc.com
Web site: http://www.misonix.com/