Healthcare Industry News: Astron
News Release - July 23, 2008
Palomar Medical Expands Its Product Portfolio Through a Distribution Agreement with Astron ClinicaBURLINGTON, Mass., July 23 (HSMN NewsFeed) -- Palomar Medical Technologies, Inc. (Nasdaq: PMTI ), a leading researcher and developer of light-based systems for cosmetic treatments, announced today that it has entered into a Distribution Agreement with Astron Clinica, Ltd. to distribute a range of aesthetic imaging products in the United States and Canada.
The agreement gives Palomar exclusive distribution rights to sell Beau Visage(TM), a clinically proven skin imaging and consultation system, to medical professionals. Palomar's customers can use Beau Visage(TM) during initial client meetings to visualize and measure blood, pigment, and wrinkles before recommending the most effective cosmetic treatments available using Palomar's StarLux(TM) Laser and Pulsed Light System. Palomar's customers can use Beau Visage during subsequent visits to show changes in their clients' skin by tracking and measuring actual improvement in skin appearance. Providing such quantifiable data on changes in skin health should greatly improve client satisfaction.
Customers using Beau Visage in conjunction with Palomar products are able to better tailor treatments to the specific needs of each client and then demonstrate and quantify the before-and-after effect of Palomar treatments. This should enable Palomar customers to sell more treatments, thereby increasing revenue and decreasing time to return on investment in Palomar aesthetic light based systems.
Also under the Distribution Agreement, Palomar will sell Astron Clinica's Physiometrics(TM) photographic imaging system which captures a library of images of the body. This new technology will allow for visual documentation of the benefits that will be seen using the recently introduced Palomar Aspire(TM) SlimLipo(TM) laser-assisted lipolysis system.
Commenting on this agreement Joseph P. Caruso, Chief Executive Officer of Palomar, said, "Working with Astron Clinica enables Palomar to sell additional products to its customers that help them increase revenues and improve client satisfaction. Our customers will be able to use Astron Clinica products to sell more aesthetic procedures, which are better tailored to the needs of each specific client, and show clients their actual improvement."
Prof. Annie Brooking, CEO of Astron Clinica, said, "We are delighted with this relationship with Palomar, the industry leader in light-based aesthetic products. The products of Palomar and Astron Clinica are truly synergistic and enable both companies to deliver a superior service to our customers."
About Palomar Medical Technologies, Inc.: Palomar is a leading researcher and developer of light-based systems for cosmetic treatments. Palomar pioneered the optical hair removal field, when, in 1997, it introduced the first high-powered laser hair removal system. Since then, many of the major advances in light-based hair removal have been based on Palomar technology. In December 2006, Palomar became the first company to receive a 510(k) over-the-counter (OTC) clearance from the United States Food and Drug Administration (FDA) for a new, patented, home use, light-based hair removal device. OTC clearance allows the product to be marketed and sold directly to consumers without a prescription. There are now millions of light-based cosmetic procedures performed around the world every year in physician offices, clinics, spas and salons. Palomar is testing many new and exciting applications to further advance the hair removal market and other cosmetic applications. Palomar is focused on developing proprietary light-based technology for introduction to the mass markets. Palomar has granted The Procter & Gamble Company a non-exclusive License Agreement to certain patents, technology and FDA documents related to the home-use, light-based hair removal field for women. In addition, Palomar has an exclusive development and license agreement with Johnson & Johnson Consumer Companies to develop and potentially commercialize home-use, light-based devices for reducing or reshaping body fat including cellulite, reducing the appearance of skin aging, and reducing or preventing acne.
About Astron Clinica, Ltd.: Astron Clinica is a global skin imaging company, based in Cambridge UK and with offices in New York and Brisbane. Astron Clinica designs, develops and brings to market skin imaging products that incorporate its proprietary skin imaging technology SIAscopy(TM). SIAscopy(TM) uniquely enables medical, pharmaceutical, cosmetic and aesthetic industry professionals to visualize up to 2mm beneath the surface of the skin using both a proprietary hand held scanner and an off-the-shelf digital camera. Awarded Frost & Sullivan's 2006 European Technology Innovation of the Year Award, Astron Clinica's products use SIAscopy(TM) to allow the measurement and non-invasive visualization of the major dermatological constituents of skin -- blood, pigment and collagen -- in vivo for the first time. SIAscopy(TM) is a technology that is trusted globally to help diagnose skin conditions as severe as skin cancer. Astron Clinica's customers include dermatologists, plastic surgeons, hospitals, GPs, beauty clinics and aesthetic medicine practitioners.
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the Company's current expectations, plans, intentions, beliefs or predictions. These forward-looking statements are neither promises nor guarantees, but involve risk and uncertainties that may individually or mutually impact the matters herein, and cause actual results, events and performance to differ materially from such forward-looking statements. These risk factors include, but are not limited to, results of future operations, technological difficulties in developing or introducing new products, the results of future research, lack of product demand and market acceptance for current and future products, the effect of economic conditions, challenges in managing joint ventures and research with third parties and government contracts, the impact of competitive products and pricing, governmental regulations with respect to medical devices, including whether FDA clearance will be obtained for future products and additional applications, the results of litigation, including patent infringement lawsuits, difficulties in collecting royalties, potential infringement of third-party intellectual property rights, factors affecting the Company's future income and resulting ability to utilize its NOLs, and/or other factors, which are detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended December 31, 2007 and the Company's quarterly reports on Form 10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Source: Palomar Medical Technologies
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