ST. PETERSBURG, Fla., April 28 /PRNewswire-FirstCall/ -- Kurt Tarter, President & CEO of Austin MedTech (OTC Pink Sheets: AMTK) /eyeDirecti states: CMP has been a significant contributor to the success of Austin MedTech /eyeDirecti the past 4 years by responding rapidly and accurately in the production of custom sterile surgery trays utilized in laser eye surgery and cataract eye surgery of which over 5 million are performed here in the USA annually. It is strategically in both companies best interest to form this relationship by unification in the eyeCentric(TM) Group in order to better position both companies for greater future prosperity.
Tim Hutto, President and CEO of CMP (Custom Medical Products) states: I am very pleased to have my company join this forward thinking coalition of companies created by eyeDirecti to deliver a “One-Stop-Shop” single source supply solution to the community of ophthalmology. Since involving my company with eyeDirecti 4 years ago, CMP’s revenues have increased 40% annually with eyeDirecti labeled product now representing 50% of CMP’s total custom product business.
A coalition of market leading companies created to deliver a “Single Source Surgical Supply Solution” to the community of ophthalmology and secure multi-year, multi-million dollar surgical supply agreements for its partners.
About CMP, Inc.
CMP manufacturers custom sterile surgery trays that are made up of disposable surgical supplies utilized by a surgeon performing surgery. Custom sterile procedure trays are a $2.1 Billion Dollar Market representing over ninety million (90,000,000) custom sterile procedure trays that are utilized for surgery each year here in the USA. CMP is located in the Orlando Florida area. CMP has been in business since 1997 producing custom surgical products designed to meet the unique requirements of surgeons performing Ophthalmic, Pain Management, Bone biopsy and Radiology procedures in North America. CMP is in full compliance with FDA & GMP procedures and policies and poised to produce another $10,000,000/yr of custom products in their current facilities with expansion potential to triple this level.
About Austin Medical Technologies, Inc./eyeDirecti(TM) (Brand)
Austin Medical Technologies delivers “DIRECT” from the manufacturer to the Surgeon, the only technology based, “Single Source Supply Solution” for custom sterile surgery trays made up of 80% of all disposable surgical devices utilized in surgery. Currently the company has contracted with nearly 200 eye surgery centers including the 2 largest eye surgery centers in the USA. The market for custom sterile surgery trays is a $2.1 Billion dollar market here in the USA.
Austin MedTech is dedicated exclusively to the Ambulatory Surgery Center (ASC) market. Ambulatory Surgery Centers (ASC), also called outpatient surgery, and same-day surgery, refers to surgical procedures which are complex enough to require a dedicated operating room and specially trained staff, but do not require an overnight stay. According to 1996 U.S. government statistics, ambulatory surgery centers account for 31 million or 44% of the total surgeries performed in the United States. Five million surgeries were on eyes, four million procedures were orthopedic, and the remaining 15 million were distributed among procedures in urology, gynecology, plastic surgery, and ear, nose and throat. Two major areas of advanced technology have contributed to the rapid growth in the types of procedures now done on an outpatient basis. They are: New surgical techniques such as endoscopy and laser surgery which allow procedures to be done more quickly and/or with less surgical trauma.
Under the brand name eyeDirecti, Austin MedTech is initially focused on Ophthalmology owned and operated surgery centers which is the fastest growing segment of the ASC market, growing by 25% per annum, consisting of 2,500 practices with 15,000 surgeons performing over 5 million surgical procedures annually at a supply cost of $400,000,000 per year. Austin MedTech is positioned to capture $40,000,000 (10%) of this $400,0000,000 market within the next 4 years. Visit our e-commerce site at http://www.eyedirecti.com/
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by Austin Medical Technologies, Inc. or its wholly owned subsidiaries) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the medical and technology industries and plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Austin Medical Technologies or its wholly owned subsidiaries. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financial activities, domestic and global economic conditions, changes in federal or state tax laws, and market competition factors.
Austin Medical Technologies, Inc.
CONTACT: Keith Tarter of Austin Medical Technologies, Inc.,+1-972-370-0197, or investors@austinmedtech.com