SAN JOSE, Calif., May 18 /PRNewswire-FirstCall/ -- Laserscope , a leader in the development and commercialization of minimally-invasive medical lasers and advanced fiber-optic delivery devices, today reported that the Company will introduce a revolutionary new laser system for the treatment of BPH and other medical conditions as well as several additional new urology products at the upcoming American Urological Association (AUA) annual meeting being held from May 20th through the 25th in Atlanta, Georgia.
Introducing the GreenLight HPS(TM)
The GreenLight HPS, or High Performance System, is a state-of-the-art surgical laser technology designed from the ground up to deliver dramatic improvements in surgical speed and precision in a multi-application platform utilizing standard utilities. The GreenLight HPS and associated single-use disposable delivery devices were developed in response to extensive market and clinical research and input from urology customers around the world.
Major features and benefits of the GreenLight HPS include: * High power, low divergence laser beam allowing for precise and rapid tissue vaporization over a wide range of working distances, anatomy configurations, and tissue compositions; * High efficiency, air cooled design and small form factor for use with standard utilities in a wide range of office and hospital settings; * A distinctive new delivery device design that eliminates backscatter, protecting vital tissue structures and providing higher efficiency vaporization; * A multi-application platform, designed to support the treatment of a range of soft tissue applications, including BPH, bladder tumors, strictures, and lesions; * QuickSwitch dual foot pedals that offer total control of Vaporization/Coagulation and Standby/Ready modes; * A touch-activated screen display that allows for easy adjustments of power and mode settings, as well as a number of pre-programmed settings for complete freedom during procedures; * A voice alert system, enabling surgical staff to monitor GreenLight system status; and * Plug and play operation that auto-adjusts line voltage to provide easy access to virtually any operating room, any time.
“We are very excited about the depth and breadth of our new product offerings this year. It will be the most extensive one-time offering in our Company’s recent history,” said Eric Reuter, Laserscope President and CEO. “At the AUA Annual Meeting, which is the largest worldwide urology tradeshow of the year, we will introduce new products for the treatment of BPH, urinary stones, and bladder tumors and strictures, demonstrating our commitment to new, innovative and highly differentiated clinical and business solutions for our urology customers.
“We are especially excited about the new GreenLight HPS,” continued Reuter, “as we believe it truly represents a technological breakthrough on a number of fronts. Our customers have told us over the past few years that there are three challenges affecting the widespread adoption of the current GreenLight technology and the Photo-Selective Vaporization of the Prostate (PVP) procedure. In order of preference, our existing and prospective customers wanted faster treatment speeds, better visibility, and for the product to operate using standard electrical service. We believe we have addressed these preferences and that this product will exceed customer expectations.”
Clinically, the GreenLight HPS system will be significantly faster than the current GreenLight system, the GreenLight PV(R) system, or any other known technology for treating BPH surgically. Laboratory testing and early clinical experience on patients has indicated GreenLight HPS is approximately 75% to 125% faster than the GreenLight PV laser system while preserving and maintaining the unique hemostatic, relatively safe, and surgically precise benefits of the 532 nanometer wavelength “green” laser energy. High speed vaporization allows for the efficient and cost-effective treatment of virtually all gland sizes, large and small.
The unique optical and power delivery design of the new GreenLight HPS system significantly improves intraoperative visibility for the surgeon and enables an optimal treatment outcome over a wider range of surgical techniques.
Of significant practical importance, the external utility demands have been reduced substantially despite the dramatic improvements in available surgical speed and nearly 160 Watt available laser power. The new GreenLight HPS requires only standard electrical service typically found in most outpatient hospital surgical suites, ambulatory surgical centers and office-based surgical facilities. The utility requirements for the current GreenLight are unique and sometimes involve difficult to obtain external water and power inputs, making it cumbersome and expensive to install. This has prevented access or support of the technology in some hospitals. In contrast, the new GreenLight HPS can be rolled in, plugged into the wall, and immediately used to perform surgery.
With these advancements in surgical capability and electrical utility requirements, the GreenLight HPS is an integral part of Laserscope’s new GreenLight SurgiSuite(TM), a turn-key solution for customers interested in the growing trend of office-based surgical facilities for PVP and other surgical procedures.
“Continued progress in establishing PVP using the GreenLight laser system product line as the standard of care for treatment of BPH requires ongoing evolution of technology as the procedure moves through the technology adoption curve,” said Mr. Reuter. “Our current GreenLight product has been an excellent performer for over four years and will remain part of our product offering. The new GreenLight HPS platform, however, represents a revolutionary and state-of-the-art advancement in clinical technology. We expect the wide combination of features and benefits will attract many current GreenLight customers as well as physicians who may have been waiting on the sidelines doing TURPs or using other less efficacious and slower office-based technologies. Additionally, as more data on the questionable cost benefit proposition of medical therapies (drugs) and other less efficacious and costly technologies used to treat BPH becomes available, many urologists and health care providers worldwide will be driven to look for single, efficacious, durable, and safe treatments for patients who suffer from BPH. We believe the HPS system and related fiber optic delivery devices significantly extend the superiority differential of the PVP procedure as the finest treatment for BPH in the world, bar none. We have received a very enthusiastic response to the initial clinical use of the product.”
“The other new products we will introduce at the AUA will ship within the next quarter. These products all address significant market needs and trends expanding Laserscope’s product reach into new markets that leverage our worldwide distribution and specialty relationships in urology. The new GreenLight HPS platform and fiber optic delivery devices will be premium-priced both domestically and internationally. We look forward to sharing more details about these exciting new products and technologies as well as some of our other R&D, marketing, and business development initiatives at the upcoming investor forum in Atlanta, Georgia on May 22nd,” concluded Mr. Reuter.
Special Investor Relations Forum Announced
Laserscope will be holding a special Investor Relations Forum coinciding with the 2006 American Urological Association Meeting on May 22, 2006 at 6:00 EDT. At this meeting, Laserscope will be discussing current and future R&D and business development initiatives for our urology and aesthetic product lines as well as unveiling the new additions to the Laserscope urology product line. Investors are invited to attend in-person or via a web-cast which can be accessed at http://www.laserscope.com . Those planning to attend in person should contact Laserscope’s IR representatives as attendance will be limited.
About Laserscope
Laserscope designs, manufactures, sells and services on a worldwide basis an advanced line of minimally-invasive medical products including medical laser systems and related energy delivery devices for the office, outpatient surgical center, and hospital markets. More information about Laserscope can be found on its web site at http://www.laserscope.com .
Safe Harbor Statement
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by this section. These forward-looking statements include: statements about manufacturing and engineering improvements in our existing products, expected continued momentum of Laserscope’s business and growth including new product offerings such as the GreenLight HPS, worldwide adoption of the PVP procedure using the GreenLight HPS (TM) laser system, the performance of our new products, especially the GreenLight HPS laser system, and those new products’ attractiveness to current and new customers, our ability to compete with similar product offerings and other therapies for the treatment of BPH, and market penetration opportunities in domestic and international markets. These statements are subject to a number of risks and uncertainties, including: the risk that the GreenLight HPS, which has not yet been released, or other new products fail to perform according to expectations or that such performance will fail to generate expected sales growth, uncertainties regarding introduction of new technologies competitive to Laserscope’s products and the degree to which our current and new products are accepted by customers, which could affect the level of demand for our products; any acquisitions we make, including the acquisition of InnovaQuartz, Inc., may not provide us the expected benefits and could disrupt our business and harm our financial condition, results of operations and cash flows, uncertainties regarding the impact that competitive products and therapies as well as private and public payer reimbursement levels for the PVP procedure could have on the competitiveness of our current pricing programs, which could adversely impact our financial results; our dependence on sole source providers for key components and products; risk of reductions in government and private insurance reimbursement of hospitals and physicians for health care costs, which may negatively impact hospitals and physicians decisions to purchase our products reducing adoption rates and sales growth; risks that we may be unable to protect adequately the integrity, safety and proper use of our disposable fiber optic delivery device with the GreenLight HPS(TM) and PV(R) laser systems, which could result in negative patient outcomes and reduce our disposable delivery device recurring revenue stream; risks that patents and licenses that we hold may be challenged, invalidated or circumvented or that we may become the subject of intellectual property litigation; uncertainties regarding our ability to compete with companies that have significantly greater financial, technical, research and development, manufacturing and marketing resources than we have; and uncertainties that new products will receive regulatory approval in applicable jurisdictions. Actual results may differ materially due to these and other factors. The matters discussed in this press release also involve risks and uncertainties described from time to time in Laserscope’s filings with the Securities and Exchange Commission. In particular, see the Risk Factors described in Laserscope’s most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K. Copies of Laserscope’s public disclosure filings with the SEC, including the most recent Annual Report on Form 10-K and the most recent forms 10-Q are available upon request from its Investor Relations Department at its website at www.laserscope.com and at the SEC’s website: www.sec.gov. Laserscope assumes no obligation to update the forward-looking information contained in this press release.
At Laserscope: At Financial Relations Board: Eric Reuter, President & CEO Tricia Ross Analyst/Investor Contact Derek Bertocci, CFO (617) 520-7064 (408) 943-0636
Laserscope
CONTACT: Eric Reuter, President & CEO, or Derek Bertocci, CFO, both ofLaserscope, +1-408-943-0636; Tricia Ross, Analyst/Investor Contact, ofFinancial Relations Board for Laserscope, +1-617-520-7064
Web site: http://www.laserscope.com/
