MELVILLE, N.Y.--(BUSINESS WIRE)--Bovie Medical Corporation (the “Company”) (Amex: BVX - News), a manufacturer and marketer of electrosurgical products, today announced that it has received U.S. Food and Drug Administration (FDA) 510(k) clearance to market a new line of patent pending advanced modular laparoscopic electrosurgical electrodes and handle, aimed at the laparoscopic and arthroscopic markets. The Modular Ergonomic Instruments (MEG) family combined with Bovie’s advanced electrosurgical generators offers users unprecedented cost savings as well as reduced and simplified inventory.
The high quality, reusable, insulated MEG line handle comes with light metallic grips, transparent ratchet and ergonomic design, which is expected to reduce surgeon fatigue and improve tactile feel. The handle accepts reusable tip inserts. Additionally, the loading and detachment of tips is simple with minimal required user training.
It is estimated that the total annual worldwide market for this product line exceeds $200 million.
In other news, the Company announced that Mr. Gary Pickett has been promoted to Chief Financial Officer. Mr. Pickett has been the Company’s Controller since March 27, 2006.
Mr. Pickett previously held financial and accounting positions with Progress Rail Services, Progress Energy and Florida Power Corporation. Mr. Pickett is a CPA with extensive experience in Sarbanes-Oxley implementation as well as GAAP accounting and SEC reporting. He holds an MBA from Tampa University, B.S. from Florida State and served five years as a field artillery officer in the United States Army.
This document may contain some forward looking statements, particularly regarding operational prospects in 2006 and beyond, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risks are listed from time to time in the Company’s SEC filings.
Contact: Buttonwood Advisory Group, Inc. Investor Relations: John Aneralla, 800-940-9087
Source: Bovie Medical Corporation
