Healthcare Industry News: North American Scientific
News Release - September 18, 2007
North American Scientific Completes Sale of NOMOS Radiation Oncology BusinessCHATSWORTH, Calif.--(HSMN NewsFeed)--North American Scientific, Inc. (Nasdaq:NASI ) announced today that it has completed the previously announced sale of its NOMOS® Radiation Oncology business to privately-held Best Medical International, Inc.
"We have successfully closed this transaction in a timely manner and we are now positioned to focus on our core brachytherapy growth strategy," said John Rush, President and Chief Executive Officer of North American Scientific. "With this divestiture complete, we can focus our resources on the commercialization of our ClearPath(TM) HDR and ClearPath CR products, which offer innovative therapeutic options to patients suffering from breast cancer, and the continued sales growth of our prostate brachytherapy products. We believe these products will allow us to address an $800 million market opportunity in the U.S. and we are excited to pursue this strategy."
About North American Scientific
North American Scientific is a leader in radiation therapy products and services in the fight against cancer. Its innovative products provide physicians with tools for the treatment of various types of cancers. They include Prospera® brachytherapy seeds and SurTRAK(TM) needles and strands used primarily in the treatment of prostate cancer. In addition the Company plans to commercialize its ClearPath(TM) multi-channel catheter breast brachytherapy devices in 2007, which are the only devices approved for both high dose and continuous release, or low dose, radiation treatments. The devices are designed to provide flexible, precise dose conformance and an innovative delivery system that is intended to offer the more advanced form of brachytherapy for the treatment of breast cancer. Please visit www.nasmedical.com for more information.
Statements included in this release that are not historical facts may be considered forward-looking statements that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company including, but not limited to, the impact of competitive products and pricing, technological changes, changes in relationships with strategic partners and dependence upon strategic partners for the performance of critical activities under collaborative agreements, the ability of the Company to successfully directly market and sell its products, uncertainties relating to patent protection and regulatory approval, the stable supply of appropriate isotopes, research and development estimates, market opportunities, risks associated with strategic opportunities or acquisitions the Company may pursue and the risk factors included in the Company's filings with the Securities and Exchange Commission. Any forward-looking statements contained in this news release speak only as of the date of this release, and the Company undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future results or otherwise.
Source: North American Scientific
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