Andrew Technologies and ITEM Medical Technologies Group Announce Signing of HydraSolve® Distribution Agreement and Equity Investment
TUSTIN, Calif., Sept. 23, 2014 /PRNewswire/ -- Andrew Technologies LLC and ITEM Medical Technologies Group of Turkey www.item.com.tr, a major medical distributor in many countries of the middle east and Eurasia have signed a distribution agreement whereby ITEM will manage the commercialization of HydraSolve® in 25 countries, encompassing a total population of almost 600 million. In addition to spearheading the launch of HydraSolve® in these markets, ITEM is also making a significant equity investment in Andrew Technologies. "We are thrilled to partner with ITEM. The countries they manage are some of the highest growth medical aesthetic markets in the world, and ITEM has distinguished itself as a leading distributor of highly differentiated devices since 1990," said Tom Albright, CEO of Andrew Technologies.
"We are excited to commence the HydraSolve launch in our countries, surgeons in these markets are keenly interested in improved technologies for liposuction and fat transfer. We anticipate a long and productive partnership with Andrew Technologies," stated Zafer Yazici, President and CEO of ITEM.
About HydraSolve®
HydraSolve® is a novel liposuction device based on the same patented Tissue Liquefaction Technology™ that was launched in 2003 by Alcon as the AquaLase® Liquefaction Device for precision cataract surgery. HydraSolve® combines natural saline solution with low levels of temperature and pressure, to liquefy only targeted fat tissue. Because fat tissue is liquefied, the cutting of fat by forceful thrusts of the cannula is no longer required. The specially designed HydraSolve® cannula is manufactured with aperture edges that have a rounded radius of curvature that do not cut tissue. It is the energized saline stream, inside the cannula, that liquefies targeted fat tissue while not liquefying or cutting blood vessels, nerves or connective tissue. HydraSolve® achieves liquefaction of fat tissue by cell disaggregation, not by emulsification and the lysing of cell membranes. HydraSolve® is the first liposuction device FDA cleared for autologous fat transfer. For more information, please refer to www.hydrasolve.com. HydraSolve® is designed to contour the body by removing localized deposits of excess fat and is not intended to treat obesity. Liposuction is a surgical procedure that has risks similar to other minimally invasive cosmetic surgeries.
About Andrew Technologies, LLC
Andrew Technologies, founded in 2007, is a medical technology company committed to improving patients' lives through body aesthetics and pursuit of surgical applications of Tissue Liquefaction Technology. Andrew Technologies is a venture capital funded company; our primary investors are NJTC Venture Fund www.njtcvc.com, StepStone Group LP www.stepstoneglobal.com and WFD Ventures www.wfdventures.com.
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SOURCE Andrew Technologies, LLC
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