Healthcare Industry News: AngioDynamics
News Release - April 2, 2007
AngioDynamics Announces Plan to Launch NeverTouch(TM) VenaCure(R) Product LineImproved System Will Continue to Serve Varicose Vein Market
QUEENSBURY, N.Y.--(HSMN NewsFeed)--AngioDynamics, Inc. (NASDAQ: ANGO ) announced today plans to launch the NeverTouch VenaCure procedure kit for laser treatment of severe varicose veins. The improved VenaCure design will employ a proprietary laser fiber technology designed to provide an enhanced level of perforation protection by further preventing contact between the fiber tip and the vessel wall during treatment.
The Company currently plans to implement its NeverTouch technology within the current fiscal quarter to ensure continuation of its leadership position in the marketplace.
"Our goal is to rapidly transition to a new fiber design ensuring that our customers do not experience any interruption of service," said Eamonn P. Hobbs, AngioDynamics' president and chief executive officer. "The new product line possesses a number of improvements, which is very much in line with AngioDynamics' goal of providing patients and the physicians who treat them with the best devices for endovenous therapy treatment."
The upcoming product introduction follows a jury verdict returned Wednesday, March 28, in the Federal District Court in Boston, Massachusetts, ruling that AngioDynamics had unwillfully infringed on U.S. patent No. 6,398,777 with its VenaCure product line. In parallel with the new product introduction, AngioDynamics is filing a motion to overturn the verdict
AngioDynamics, Inc. is a leading provider of innovative medical devices used by interventional radiologists, surgeons, and other physicians for the minimally invasive 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.
The statements made in this document contain certain forward-looking statements that involve a number of risks and uncertainties. Words such as "expects," "intends," "anticipates," "plans," "believes," "seeks," "estimates," or variations of such words and similar expressions, are intended to identify such forward-looking statements. Investors are cautioned that actual events or results may differ from the Company's expectations. In addition to the matters described above, the ability of the Company to develop its products, future actions by the FDA or other regulatory agencies, results of pending or future clinical trials, overall economic conditions, general market conditions, market acceptance, foreign currency exchange rate fluctuations, the effects on pricing from group purchasing organizations and competition, as well as the risk factors listed from time to time in the SEC filings of AngioDynamics, Inc., including but not limited to its Annual Report on Form 10-K for the year ended June 3, 2006, may affect the actual results achieved by the Company.
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