O'FALLON, Mo., June 5 /PRNewswire-FirstCall/ -- Synergetics USA, Inc. announced today that it has signed a new three-year distribution agreement with Quantel Medical of France. Under the agreement, Synergetics will gain distribution rights in the United States and Canada for Quantel's Vitra(TM), the Company's newest ophthalmic laser. Synergetics will have exclusive distribution rights for the operating room and non-exclusive distribution rights for the ophthalmic office. The Vitra(TM) is believed to be the world's smallest, portable ophthalmic laser.
"We are very excited to offer our U.S. and Canadian customers the Vitra(TM), which I consider to be the finest ophthalmic laser available," said Gregg D. Scheller, President and Chief Executive Officer of Synergetics. "Our previous venture into the laser market resulted in modest results. With this agreement, we will be able to offer our customers a truly competitive product through our existing sales organization."
"We are very proud that our new laser, The Vitra(TM), has been chosen by Synergetics," said Marc Gasnier, Chief Executive Officer of Quantel Medical. "This laser has been mainly designed to be used in the operating room, and Synergetics is a market leader in the U.S. for the devices that are used in vitreoretinal surgery. This agreement with Synergetics will give us a great opportunity to penetrate the ophthalmic laser market and should increase our market share in the U.S."
Quantel Medical is the Medical subsidiary of Quantel (EUROLIST: FR38242) a publicly-traded French company and one of the pioneers in diode - based medical lasers as well as a military laser supplier. Synergetics' prior distribution relationship with Quantel led to this new agreement.
Both companies believe the United States and Canadian markets for these types of lasers (together with related accessories) exceed $28 million annually.
About Synergetics USA, Inc.
Synergetics USA, Inc. resulted from the September 2005 combination of Valley Forge Scientific Corp. and Synergetics, Inc., bringing together their respective unique capabilities in bipolar electrosurgical generators and design, and manufacture of microsurgical hand instruments. Synergetics USA, Inc. designs, manufactures and markets medical devices for use primarily in ophthalmic surgery and neurosurgery and for other healthcare applications. Its products are designed and manufactured to support micro or minimally invasive surgical procedures. In addition to its surgical devices and equipment, it designs and manufactures disposable and non-disposable supplies and accessories for use with such devices and equipment. It also manufactures and sells bipolar electrosurgical generators and other generators, based on its DualWave(TM) technology, and complementary instrumentation and disposable products for use in neurosurgery, spine surgery, pain control and in dental applications. Synergetics sells its products primarily to hospitals, clinics and surgeons in approximately 70 countries.
About Quantel:
Founded in 1970, the QUANTEL Group has made its mark over the last ten years as a leading world specialist in laser technology for scientific, industrial and medical applications (ophthalmology, dermatology). Present in France and the United States, with its Big Sky Laser and QMInc subsidiaries, the QUANTEL Group achieved total sales of M euro 37 ($47M) in 2005, evenly distributed between scientific and industrial (52%) and medical (48%) laser applications.
Forward-Looking Statements
Some statements in this release may be "forward-looking statements" for the purposes of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements are based upon current expectations and beliefs and are subject to a number of factors. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward- looking statements, including but not limited to: the effects of local and national economic, credit and capital market conditions on the economy in general, and on the medical device industry in particular, and the effects of foreign exchange rates and interest rates; the ability to timely and cost- effectively integrate the operations and management of Valley Forge and Synergetics following their merger transaction; the ability to realize the synergies and other perceived advantages resulting from the merger; the ability to retain and attract key personnel; the ability of Synergetics to successfully execute its business strategy; the extent and timing of market acceptance of new products or product indications; the ability of Synergetics to procure, maintain, enforce and defend its patents and proprietary know how; changes in laws, including increased tax rates, regulations or accounting standards, third-party relations and approvals, and decisions of courts, regulators and governmental bodies; the ability of Synergetics to continue to increase customer loyalty; the ability to recoup costs of capital investments through higher revenues; environmental restrictions, soil and water conditions, weather and other hazards, site access matters and building permit issues; the effects of environmental and structural building conditions relating to Synergetics' properties; acts of war or terrorism incidents; the effects of operating and market competition; and other important factors disclosed previously and from time to time in Synergetics' filings with the SEC. Synergetics undertakes no obligation to update these forward-looking statements.
Pamela G. Boone, Chief Financial Officer Synergetics USA, Inc. (636)939-5100 http://www.synergeticsusa.com
Synergetics USA, Inc.CONTACT: Pamela G. Boone, Chief Financial Officer, Synergetics USA, Inc.,+1-636-939-5100
Web site: http://www.synergeticsusa.com/
