MINNEAPOLIS, Jan. 17 /PRNewswire-FirstCall/ -- Uroplasty, Inc. today announced the expansion of its CO-OP marketing program to customers of its Urgent PC(R) neuromodulation system for the treatment of overactive bladder (OAB) symptoms. Uroplasty offers this marketing program to customers who wish to promote the availability in their practice of this leading non-surgical, office-based treatment option.
"This is the right time to offer an expanded marketing program to our fast-growing base of customers," said David B. Kaysen, Uroplasty's President and CEO. "In the quarter ended December 31, 2007 we had over 300 active customers in the United States, consisting primarily of urologists and urogynecologists, who purchased our Urgent PC neuromodulation system or additional lead sets. This represents in excess of a 150% increase from 119 active customers we had in our fourth fiscal quarter ended March 31, 2007. Our expanded marketing program gives our customers more options to enhance their practice, and market the benefits and availability of the Urgent PC system to their patients."
Kaysen continued, "Our focus in the U.S. is to both expand our new customer base and increase our revenue from our existing customer base. We believe this marketing program, an important part of our growth strategy, will allow our customers to increasingly incorporate the Urgent PC system as part of the treatment option they offer to their patients."
Program participants, working closely with Uroplasty, select a marketing program suitable for their practice from a menu of options which includes local media print advertising, patient and physician education seminars, direct mail campaign, and local radio advertising. Uroplasty and the participant share the marketing program costs in proportion to the benefit each receives from the program.
About the Urgent PC Neuromodulation System
The Urgent PC neuromodulation system is a proprietary, minimally invasive nerve stimulation device designed for office-based treatment of OAB symptoms of urge incontinence, urinary urgency and urinary frequency. Application of neuromodulation therapy targets specific nerve tissue and disrupts the signals that lead to the symptoms of OAB. Uroplasty sells the Urgent PC system in the United States, Canada and countries recognizing the CE mark. Outside of the United States, the Urgent PC is also indicated for the treatment of fecal incontinence.
About Uroplasty, Inc.
Uroplasty, Inc., headquartered in Minnetonka, Minnesota, with wholly-owned subsidiaries in The Netherlands and the United Kingdom, is a medical device company that develops, manufactures and markets innovative proprietary products for the treatment of voiding dysfunctions. Our primary focus is the commercialization of our Urgent PC system, which we believe is the only FDA-approved non-surgical neurostimulation therapy for the treatment of overactive bladder (OAB) symptoms. We also offer Macroplastique(R) Implants, a bulking agent for the treatment of urinary incontinence. Please visit Uroplasty, Inc. at http://www.uroplasty.com.
Safe Harbor
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. This press release contains forward-looking statements, which reflect our views regarding future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties, including those identified below, which could cause actual results to differ materially from historical results or those anticipated. The words "aim," "believe," "expect," "anticipate," "intend," "estimate" and other expressions, which indicate future events and trends, identify forward-looking statements. Actual future results and trends may differ materially from historical results or those anticipated depending upon a variety of factors, including, but not limited to: the effect of government regulation, including when and if we receive approval for marketing products in the United States; the impact of international currency fluctuations on our cash flows and operating results; the impact of technological innovation and competition; acceptance of our products by physicians and patients, our historical reliance on a single product for most of our current sales; our ability to commercialize our recently licensed product lines; our intellectual property and the ability to prevent competitors from infringing our rights; the ability to receive third party reimbursement for our products; the results of clinical trials; our continued losses and the possible need to raise additional capital in the future; our ability to manage our international operations; our ability to hire and retain key technical and sales personnel; our dependence on key suppliers; future changes in applicable accounting rules; and volatility in our stock price. We cannot assure that we can successfully expand our U.S. field sales force, that our active customer base will continue to grow or that we will be successful in helping our active customers introduce, and our existing customers will continue to market, our Urgent PC technology. Uroplasty undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties.
CONTACT: David Kaysen, President and CEO, or Medi Jiwani, Vice President,
CFO and Treasurer, +1-952-426-6140; or media, Steve DiMattia,
+1-646-201-5445, or investors, Doug Sherk|Julie Huang|Matt Selinger,
+1-646-443-6963, all of EVC Group, for Uroplasty, Inc.
Web site: http://www.uroplasty.com/
