Misonix And Soelim Create New Distribution Alliance For South Korea
FARMINGDALE, N.Y., July 13, 2012 /PRNewswire/ -- Misonix, Inc. (NasdaqGM: MSON), a surgical device company that designs, manufactures and markets innovative therapeutic ultrasonic products worldwide for spine surgery, skull-based surgery, neurosurgery, wound debridement, cosmetic surgery, laparoscopic surgery and other surgical applications, has entered into a new, three year, exclusive distribution agreement with Soelim, Inc. based in Seoul, South Korea, for the distribution of the SonaStar® Ultrasonic Surgical Aspiration System and the BoneScalpel™ Ultrasonic Bone Cutting System. The agreement provides Soelim with the right to sell throughout Korea. Included in the agreement are annual minimum purchase requirements. Registration and initial product training are complete and open market sales have begun.
Soelim is recognized as a premier distributor in South Korea with close to 25 years of experience introducing new, state-of-the-art products to their marketplace. They are well established in spine surgery, neurosurgery and other skull-based surgeries and have earned a reputation for providing a high level of service to their customer base. Their commitment to product support and education is consistent with the Company's core values.
The SonaStar is used by neurosurgeons and general surgeons for quick and efficient removal of both hard and soft tumors while sparing most vessels and other surrounding tissue. OsteoSculpt™ bone sculpting technology can be employed with the SonaStar to safely remove osseous structures, thus providing access to the surgical site.
The BoneScalpel is a tissue specific osteotomy device capable of safely making precise cuts through bone and hard tissue while largely preserving delicate soft tissue structures. It offers the convenience and speed of a power instrument without the danger associated with rotary sharps. The Product is used by neurosurgeons, cranio-maxillofacial surgeons and orthopedic surgeons for a wide range of procedures.
"We are quite pleased to add Soelim to our distribution organization in Asia; they represent a large and growing medical market and their presence should add measurably to our sales success. Their reputation for successfully introducing new products into the South Korean market is second to none," said Michael A. McManus, Jr., President and Chief Executive Officer of Misonix. "We are particularly pleased that they will be selling two of our key products to the South Korean market."
Misonix, Inc. designs, develops, manufactures and markets therapeutic ultrasonic medical devices. Misonix's therapeutic ultrasonic platform is the basis for several innovative medical technologies. 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 www.misonix.com.
Safe Harbor Statement
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. 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, risks associated with international sales and currency fluctuations, uncertainties as a result of research and development, acceptable results from clinical studies, including publication of results and patient/procedure data with varying levels of statistical relevancy, risks involved in introducing and marketing new products, potential acquisitions, consumer and industry acceptance, litigation and/or court proceedings, including the timing and monetary requirements of such activities, the timing of finding strategic partners and implementing such relationships, 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. The Company disclaims any obligation to update its forward-looking relationships.
SOURCE Misonix, Inc.