Healthcare Industry News: American Medical Systems
News Release - January 17, 2006
SRS Medical Purchases Advanced Urinary Catheter Technologies from Eutech Medical of SwedenLatest Acquisition in Incontinence and Women's Health
BILLERICA, Mass.--(HSMN NewsFeed)--Jan. 17, 2006--SRS Medical Systems, Inc. today announced that it had acquired all assets related to devices for the treatment of severe female incontinence from Eutech Medical AB of Gothenburg, Sweden. The transaction includes the intellectual property and clinical data, production tooling and inventory related to the Uroflex(TM) and the Keepcath(TM) devices, as well as other proprietary indwelling catheters for patients with a need for long term urinary drainage. Financial terms were not disclosed.
Worldwide sales of urinary catheters exceed $800 million annually, but little technology has been applied, despite serious problems that include high infection rates and low quality of life. These problems are urgently important for those who require chronic catheterization. The Eutech devices provide promising new alternatives for safe and effective bladder drainage through creative use of advanced materials technology.
SRS Medical CEO Kevin M. Connolly said that the purchase of these product lines is consistent with the company's strategy of offering a comprehensive program for the diagnosis and conservative treatment of incontinence. "The Eutech technology will extend the knowledge base we have built with the In-Flow catheter and enable us to further help the neediest patients. It will also extend our intellectual property portfolio for the next generation of urinary catheters."
Johan Bennerstan, Chairman of Eutech Medical, commented, "I am gratified to see this highly innovative technology in the hands of a group that can bring it effectively to market."
To learn more about the Eutech Medical technology, please visit www.eutechmed.se.
SRS Medical Systems, Inc. is a privately held Delaware corporation with U.S. facilities in Billerica MA and Redmond WA. To learn more about SRS Medical and its products, please visit http://www.srsmedical.com.
Source: SRS Medical Systems
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