O'FALLON, Mo., July 17 /PRNewswire-FirstCall/ -- Synergetics USA, Inc. is pleased to report the first international resale Omni(R) units have been sold to our Czech Republic distributor. This distributor is part of our newly formed international sales organization. This sales network, consisting of 32 distributors covering 41 countries has been established in the past 9 months through the efforts of a small, but dedicated, group of individuals.
"This international distribution network will eventually sell all of our Omni(R) and Malis(R) products as well as follow-on neurosurgical product lines. This initial Omni(R) sale represents a milestone in Synergetics' development as it is the first non-U.S. sale of a piece of capital equipment for retail sale. As products move through the regulatory process and are released into the international marketplace, we expect our international neurosurgery sales to increase dramatically," stated Gregg D. Scheller, President and Chief Executive Officer of Synergetics. "Selling our first resale unit into the Czech Republic should give our customers and shareholders some idea of the depth of market penetration we expect. Up to this point, the Omni(R) has been sold only as demonstration units in countries outside the United States. Our Czech Republic distributor has done a fantastic job in selling these Omni(R) units only 5 months after receiving their demonstration equipment. This is several months earlier than our previously anticipated timeframe."
"Synergetics is also looking to soon sell its Malis(R) Advantage(TM) bipolar electrosurgical units through these same international distributors, increasing the Company's presence in markets that represent significant growth potential."
"I look forward to the day when all our international distributors have Omni(R) and Malis(R) Advantages(TM) available for resale in their respective countries. Although a full capital equipment pipeline in non-U.S. markets is still sometime in the future, these first orders still feel good," stated Scheller.
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, manufacture and marketing 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.
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 of Synergetics, Inc., now a wholly owned subsidiary of the Company, with the historical business of Valley Forge Scientific Corp.; the ability to realize the synergies and other perceived advantages resulting from our recently completed merger; the ability to attract new strategic partners for the distribution of our products and to maintain our relationships with existing distribution strategic partners; the ability to identify new product offering opportunities, which may include partnering with original equipment manufacturers (OEM) and to bring effectively such products to market and/or maintain our relationships with our existing OEM partners; the ability to attract and retain key personnel; the ability to meet all existing and new U.S. FDA requirements and comparable non- U.S. medical device regulations in jurisdictions in which the Company conducts its business; the ability of Synergetics to successfully execute its business strategies; 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; the effects of environmental and structural building conditions related to the Company's 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.
Contact: Pamela G. Boone Chief Financial Officer Synergetics USA, Inc., 636-939-5100
Synergetics USA, Inc.CONTACT: Pamela G. Boone, Chief Financial Officer, Synergetics USA, Inc.,+1-636-939-5100
