FARMINGDALE, N.Y., Nov. 22 /PRNewswire-FirstCall/ -- Misonix, Inc. , a developer of ultrasonic medical device technology for the treatment of cancer and other health conditions, announced today the promotion of Dr. W. Paul Constantine to Senior Vice President, Marketing, Sales and New Product Development for the Company’s medical device division. In his new and expanded capacity, Dr. Constantine will continue to report to Michael A. McManus, Jr., the Company’s President and Chief Executive Officer, and will be responsible for Misonix’s expanding platform of ultrasonic medical devices.
The management change is the latest step forward since Misonix announced in July 2005 its intent to focus solely on its burgeoning medical devices business. The Company’s commercialized medical devices have grown from one in 1999 to nine in 2005. These include, among other products, those for laparoscopic surgery, neurological applications, lithotripsy and cosmetic surgery. In addition, the Company has two additional products -- a wound debridement system and a bone cutter -- that received clearance by the US Food and Drug Administration and are expected to be introduced in the coming months. Another important application in the Company’s arsenal of ultrasonic medical devices is the use of high intensity focused ultrasound (HIFU) for the treatment of cancerous tissue in the prostate, kidney, liver and breast. Other projects in the research and development phase include expanding the use of therapy ultrasound on fibroids of the uterus; a review of existing ultrasonic wire technology for application in veins and arteries in the cardiac market; and, use of the Company’s HiSonic ultrasonic technology to alleviate profound deafness and tinnitus.
Dr. Constantine joined Misonix in September 2005 to lead Strategic Planning and New Product Development for the Company’s HIFU platform. Dr. Constantine will succeed Ken Coviello, Senior Vice President, Sales and Marketing, who resigned to pursue other opportunities. Mr. Coviello will serve as a consultant to the Company during a transition period.
Commenting on the promotion of Dr. Constantine, Mr. McManus said, “Since joining Misonix a few months ago, Paul demonstrated impressive leadership and knowledge of the many markets we serve. His background as a physician as well as a corporate executive is well suited for our mission to become the global leader for ultrasonic medical devices.”
Mr. McManus continued, “We thank Ken for his many contributions to Misonix and we all wish him well in his future endeavors.”
Misonix develops, manufactures, and markets medical, scientific, and industrial ultrasonic and air pollution systems. The Company has been at the forefront of ultrasonic technology for over 50 years. Misonix’s ultrasonic platform is the basis for several innovative medical technologies. Misonix has a minority equity position in Focus Surgery, Inc. which uses high intensity focused ultrasound (“HIFU”) technology to destroy deep-seated cancerous tissues without effecting surrounding healthy tissue. 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 http://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. In particular, the Company may not be successful in its efforts with respect to strategic opportunities for its Laboratory and Scientific Division and the affect this activity may have on the other businesses within the Company. 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, uncertainties as a result of research and development, potential acquisitions, consumer and industry acceptance, litigation and/or court proceedings, including the timing and monetary requirements of such activities, 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.
Misonix Contact: Investor Relations Contact: Richard Zaremba Jordan M. Darrow Chief Financial Officer Darrow Associates, Inc. 631-694-9555 631-367-1866 invest@misonix.comjdarrow@optonline.net
Misonix, Inc.
CONTACT: Richard Zaremba, Chief Financial Officer of Misonix, Inc.,+1-631-694-9555, invest@misonix.com; or Investor Relations: Jordan M.Darrow of Darrow Associates, Inc., +1-631-367-1866, jdarrow@optonline.net,for Misonix, Inc.
Web site: http://www.misonix.com//
