Healthcare Industry News: neuromodulation
News Release - December 12, 2007
Uroplasty More Than Doubles its Active Customers in the U.S. Since MarchMINNEAPOLIS, Dec. 12 (HSMN NewsFeed) -- Uroplasty, Inc. (Amex: UPI ) today announced that, since October 1, 2007, more than 250 active customers in the United States have purchased its Urgent PC® neuromodulation system or additional Urgent PC lead sets and products for the treatment of overactive bladder (OAB) symptoms.
"We have more than doubled the number of active customers in the U.S. since our fourth fiscal quarter ended March 31, 2007," said David B. Kaysen, Uroplasty's President and CEO. "This also represents a 25% increase in active customers from the 203 active customers we had in the second fiscal quarter ended September 30, 2007. We have assembled our customer base from the leading urologists in each of our sales territories. We are focused on working with our customers to enhance their Urgent PC practice and are excited to work with these respected clinicians to provide their patients with access to our leading non-surgical, office-based treatment of OAB symptoms."
"At the same time, we have expanded our U.S. field sales organization and now have 17 employed representatives, up from four at the start of our fiscal year," Mr. Kaysen continued. "Our goal is to have 20 employed field sales representatives in place by the end of our fiscal year on March 31, 2008. We have supplemented our employed field sales people with 12 independent sales representatives' groups. We believe we have put in place a strong field organization to execute our sales plan and drive clinical adoption of the Urgent PC system."
About the Urgent® PC neuromodulation System
The Urgent PC neuromodulation system is a proprietary, minimally invasive nerve stimulation device designed for office-based treatment of OAB symptoms of urge incontinence, urinary urgency and urinary frequency. Application of neuromodulation therapy targets specific nerve tissue and disrupts the signals that lead to the symptoms of OAB. Uroplasty sells the Urgent PC system in the United States, Canada and countries recognizing the CE mark. Outside of the United States, the Urgent PC is also indicated for the treatment of fecal incontinence.
About Uroplasty, Inc.
Uroplasty, Inc., headquartered in Minnetonka, Minnesota, with wholly-owned subsidiaries in The Netherlands and the United Kingdom, is a medical device company that develops, manufactures and markets innovative proprietary products for the treatment of voiding dysfunctions. Our primary focus is the commercialization of our Urgent PC® system, which we believe is the only FDA-approved non-surgical neurostimulation therapy for the treatment of overactive bladder symptoms (OAB). We also offer Macroplastique® Implants, a bulking agent for the treatment of urinary incontinence. Please visit Uroplasty, Inc. at http://www.uroplasty.com.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. This press release contains forward-looking statements, which reflect our views regarding future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties, including those identified below, which could cause actual results to differ materially from historical results or those anticipated. The words "aim," "believe," "expect," "anticipate," "intend," "estimate" and other expressions, which indicate future events and trends, identify forward-looking statements. Actual future results and trends may differ materially from historical results or those anticipated depending upon a variety of factors, including, but not limited to: the effect of government regulation, including when and if we receive approval for marketing products in the United States; the impact of international currency fluctuations on our cash flows and operating results; the impact of technological innovation and competition; acceptance of our products by physicians and patients, our historical reliance on a single product for most of our current sales; our ability to commercialize our recently licensed product lines; our intellectual property and the ability to prevent competitors from infringing our rights; the ability to receive third party reimbursement for our products; the results of clinical trials; our continued losses and the possible need to raise additional capital in the future; our ability to manage our international operations; our ability to hire and retain key technical and sales personnel; our dependence on key suppliers; future changes in applicable accounting rules; and volatility in our stock price. We cannot assure that we can successfully expand our U.S. field sales force, that our active customer base will continue to grow or that we will be successful in helping our active customers introduce and our existing customers will continue to market our Urgent PC technology. Uroplasty undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties.
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