SOUTHBOROUGH, Mass. and SUNNYVALE, Calif., Feb 21, 2002 /PRNewswire via COMTEX/
Covers Licensing, Development, Manufacturing and Marketing ACMI, a leading developer, manufacturer and marketer of a broad product
portfolio for urology, gynecology and minimally invasive surgery, and ArthroCare
Corporation (Nasdaq: ARTC) today announced that ArthroCare has granted ACMI
exclusive worldwide distribution rights to market ArthroCare's
Coblation(R)-technology for urology indications. Under the terms of the
agreement, ArthroCare will develop and manufacture products for endoscopic
urologic and transuretheral resection of the prostate (TURP). ACMI will license
ArthroCare's intellectual property and market the Coblation-based system
worldwide in conjunction with ACMI's resectoscope technology. ACMI will
distribute and market the system under the ACMI brand. Financial terms of the
agreement were not disclosed.
The United States Food and Drug Administration (FDA) has granted clearance to
market ArthroCare's system specifically for endoscopic surgery in general
urological procedures, TURP and transuretheral incisions in the prostate (TUIP).
Greg Barrett, President and Chief Executive Officer of ACMI, stated, "We are
extremely excited to partner with ArthroCare to introduce ArthroCare's Coblation
technology for use in urology indications. Marketing Coblation technology is
consistent with our strategy to offer urologists around the world alternatives
to treat common disorders of the prostrate, such as Benign Prostatic Hyperplasia
(BPH). In the United States alone, approximately 9 million men suffer from these
symptoms. We look forward to working with ArthroCare and our urology physicians
to treat patients suffering from symptoms associated with enlarged prostrate."
"I have used Coblation-based TURP products in animal models," said Harcharan
Gill, M.D., FA.C.S, F.R.C.S, Associated Professor or Urology at Stanford
University Hospital. "I believe they not only allow the physician to use a
conductive irrigant within the urethra, but they have the potential to reduce
bleeding and operative time compared to the gold standard monopolar loop
"ACMI is an ideal partner for ArthroCare's urology product set," said Michael A.
Baker, ArthroCare's President and Chief Executive Officer. "The company has a
long-standing worldwide reputation for providing quality endoscopic surgical
products to the medical community. Our partnership is designed to bring the
benefits of ArthroCare's proprietary Coblation technology quickly to urology
surgeons and patients around the world."
ACMI is headquartered in Southborough, Massachusetts and designs, manufactures,
markets and services medical endoscopy systems for diagnosis and minimally
invasive surgery. ACMI is a leading provider of endoscopy equipment that
illuminates, provides visualization, and facilitates therapeutic treatments for
urologists and gynecologists.
ArthroCare's products allow surgeons to operate with a high level of precision
and control, limiting damage to surrounding tissue. The company's products
operate at lower temperatures than traditional electrosurgical or laser surgery
tools and enable surgeons to remove, thermally treat, or sculpt soft tissue and
to seal bleeding vessels.
ArthroCare is a medical device company that develops, manufactures and markets
products based on its patented Coblation technology. ArthroCare's soft-tissue
surgery systems consist of a controller unit and an assortment of single-use
disposable devices that are specialized for specific types of surgery. The
company believes its Coblation technology can replace the multiple surgical
tools traditionally used in soft-tissue surgery with one multi-purpose surgical
system. Coblation technology is applicable across many soft-tissue surgical
Safe Harbor Statements
Except for historical information, this press release includes forward-looking
statements. These statements include, but are not limited to, the expectations
regarding trends in newly commercialized markets, the company's belief that
certain surgical products and procedures will enhance achievement of the
company's long-term potential, the sustainability of growth rates in certain
markets, the affect of anticipated government regulatory clearances, continued
success of product diversification efforts, and other statements that involve
risks and uncertainties. These risks and uncertainties include, but are not
limited to the uncertainty of success of the company's non-arthroscopic
products, competitive risk, uncertainty over reimbursement, need for government
clearances or approvals before selling products, and the uncertainty of
protecting the company's patent position. These and other risks and
uncertainties are detailed from time to time in the company's Securities and
Exchange Commission filings, including ArthroCare's Form 10-K for the year ended
December 30, 2000 and the 10-Q for the quarter ended September 29, 2001.
Forward-looking statements are indicated by words or phrases such as
"anticipates," "estimates," "projects," "believes," "intends," "expects," and
similar words and phrases. Actual results may differ materially from management
CONTACT: Gary Young VP, Global Marketing of ACMI, +1-508-804-2693, or
Christine Hanni, Vice President, Chief Financial Officer of ArthroCare,
Copyright (C) 2002 PR Newswire. All rights reserved.