Healthcare Industry News: AngioDynamics
News Release - February 28, 2007
AngioDynamics Expands Vascular Access Port Portfolio with Introduction of the Smart Port(TM) CTQUEENSBURY, N.Y.--(HSMN NewsFeed)--AngioDynamics, Inc. (Nasdaq:ANGO ) announced the introduction of their Smart Port(TM) CT today at the 32nd Annual Scientific Meeting of the Society of Interventional Radiology being held in Seattle, Washington. This new vascular access port is indicated for power injection of contrast media with a flow rate of 5mL/sec. Initial shipments are expected during the company's fiscal fourth quarter.
"The market for vascular access ports is demanding the added capability for power injection of contrast media for Computed Tomography (CT) diagnostic procedures, which eliminates the need for an additional vascular access line when a patient requires a CT scan," commented Michelle Jones, director, vascular access products for AngioDynamics. "Our Smart Port CT provides this feature, while also employing all the clinical benefits and features of our market leading Vortex® technology," Ms. Jones added.
The Smart Port CT has a unique, patented design that allows for superior fluid dynamics to eliminate dead space and the formation of sludge, thus extending the working life of the port. In a clinical trial comparing the Vortex technology to conventional ports, the Vortex had a 7% occlusion rate compared with a 26% occlusion rate for conventional ports. (Ref. "A Randomized, Prospective Trial of Conventional Vascular Ports vs. The Vortex "Clear-Flow" Reservoir Port", JVAD Summer 2000). The conclusion of this study indicated the Vortex port resulted in better patient outcomes, fewer complications, less nursing time and expenses than when a conventional port was used.
The Smart Port CT will be available in two catheter sizes - 9.6F and 7.5F. It features Fluoromax® 100% silicone catheters with a radiopaque shaft and tip. The Smart Port CT also features a large septum for easy access. A CT indicated LifeGuard(TM) Infusion Needle system will also be available.
"This is our first product introduction following our acquisition of RITA Medical Systems late last month," commented Eamonn P. Hobbs, AngioDynamics' chief executive officer. "We believe that the Smart Port CT represents an excellent example of our strengthened ability to continue to roll out proprietary cutting edge new products that satisfy our customer's expanding needs."
AngioDynamics, Inc. is a leading provider of innovative medical devices used by interventional radiologists, surgeons, and other physicians for the minimally invasive diagnosis and treatment of cancer and peripheral vascular disease. The company's diverse product line includes market-leading radiofrequency ablation systems, vascular access products, angiographic products and accessories, dialysis products, angioplasty products, drainage products, thrombolytic products, embolization products and venous products. More information is available at www.AngioDynamics.com.
This release includes "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. These statements contain words such as "may," "will," "predict," "project," "might," "expect," "believe," "anticipate," "plan," "intend," "potential," "could," "would," "should," "estimate," "seek," "continue," "pursue," or "our future success depends," or the negative or other variations thereof or comparable terminology. In particular, they include statements relating to, among other things, future actions, strategies, future performance, and future financial results of AngioDynamics. These forward-looking statements are based on current expectations and projections about future events.
Investors are cautioned that forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that cannot be predicted or quantified and, consequently, the actual performance or results of AngioDynamics may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the following factors as well as other factors described from time to time in our reports filed with the Securities and Exchange Commission, including AngioDynamics' Form 10-K for the fiscal year ended June 3, 2006 and Form 10-Q for the period ended December 2, 2006: financial community and rating agency perceptions of AngioDynamics; the effects of economic, credit and capital market conditions on the economy in general, and on medical device companies in particular; the ability to timely and cost-effectively integrate the recent acquisition of RITA Medical Systems, Inc. into AngioDynamics' operations; domestic and foreign health care reforms and governmental laws and regulations; third-party relations and approvals, technological advances and patents attained by competitors; and challenges inherent in new product development, including obtaining regulatory approvals.
Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. AngioDynamics and disclaims any obligation to update the forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date stated, or if no date is stated, as of the date of this press release.
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