Encision Inc. and Virtual Ports Ltd. Announce Exclusive Distribution Agreement for Laparoscopic Surgery Devices
BOULDER, Colo., April 16, 2013 /PRNewswire/ -- Encision Inc. ("Encision") (ECIA: PK) is pleased to announce an agreement with Virtual Ports Ltd. ("Virtual Ports") for exclusive distribution rights to the Virtual Ports' laparoscopic organ retraction products in the United States. Under the terms of the agreement, Encision will market and sell Virtual Ports' organ retraction products. Encision and Virtual Ports are both innovative companies that develop, manufacture and market medical devices that bring a higher level of performance to laparoscopic surgery. Encision's AEM® Technology eliminates stray energy burns during laparoscopic surgery. Virtual Ports' products provide secure laparoscopic organ retraction through its proprietary MicroAnchoring™ Technology.
"We are thrilled to expand our product offerings with Virtual Ports' unique products," said Fred Perner, President and CEO of Encision. "We see this relationship as accelerating our efforts to bring true innovation and improved economic outcomes to laparoscopic procedures. Additionally, Micro-Anchoring Technology aligns perfectly with our targeted audience of laparoscopic surgeons."
Dan Shwarzman, CEO of Virtual Ports, notes, "We are extremely pleased to partner with a focused and innovative company such as Encision to sell and distribute our products. This agreement dramatically expands our reach throughout the U.S. and creates an ideal product synergy with Encision's product line. We look forward to a successful collaboration with Encision and are confident that together we can offer surgeons and patients in the U.S. a new performance standard for laparoscopic surgery."
Virtual Ports Products
Virtual Ports products, including the EndoGrab™ and the EndoLift™, are exceptionally small-profile devices that provide secure laparoscopic organ retraction by using Virtual Port's proprietary MicroAnchoring™ Technology. The EndoGrab™ allows surgeons to retract internal organs and to anchor them directly to the endocavity wall. This retraction moves organs outside of the surgeon's critical view, which results in enhanced tissue access without cluttering the laparoscopic workspace, and reduces the number of ports, incisions and personnel required to perform the procedure. The EndoLift™ is designed specifically to internally retract large, soft tissue structures, such as the liver and uterus, from within the abdominal cavity, which eliminates incisions solely dedicated for retraction.
Encision Inc. designs, develops, manufactures and markets innovative surgical devices that allow surgeons to optimize technique and patient safety during a broad range of surgical procedures. Based in Boulder, Colorado, Encision pioneered the development of patented AEM® Laparoscopic Instruments to improve electrosurgery and reduce the chance for patient injury in minimally invasive surgery. For more information, visit Encision's web site at www.encision.com.
About Virtual Ports
Virtual Ports develops, manufactures, and markets medical devices for use in laparoscopic surgery. Its proprietary MicroAnchoring™ Technology provides secure laparoscopic organ retraction using exceptionally small-profile devices. Virtual Ports, started in the Misgav Venture Accelerator in Israel, was established in 2006, and began marketing its products three years ago. Its customers include leading hospitals and medical centers throughout the world. For more information, visit Virtual Port's web site at www.virtual-ports.com.
In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company notes that statements in this press release and elsewhere that look forward in time, which include everything other than historical information, involve risks and uncertainties that may cause actual results to differ materially from those indicated by the forward-looking statements. Factors that could cause the Company's actual results to differ materially include, among others, its ability to increase net sales through the Company's distribution channels, its ability to compete successfully against other manufacturers of surgical instruments, insufficient quantity of new account conversions, insufficient cash to fund operations, delay in developing new products and receiving FDA approval for such new products and other factors discussed in the Company's filings with the Securities and Exchange Commission. Readers are encouraged to review the risk factors and other disclosures appearing in the Company's Annual Report on Form 10-K for the year ended March 31, 2012 and subsequent filings with the Securities and Exchange Commission. We do not undertake any obligation to update publicly any forward-looking statements, whether as a result of the receipt of new information, future events, or otherwise.
CONTACT: Mala Ray, Encision Inc., 303-444-2600, firstname.lastname@example.org
SOURCE Encision Inc.
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