Healthcare Industry News: endoscopy
News Release - April 20, 2009
Microline PENTAX Acquires Starion InstrumentsProvides global access to Starion’s Tissue Welding technology and expands Microline PENTAX’s reach into new surgical markets
BEVERLY, Mass.--(HSMN NewsFeed)--Microline PENTAX, a leading manufacturer of reposable instruments for minimally invasive surgery, announced today that it has acquired Starion Instruments™ Corp., a privately held developer of surgical technology for sealing and dividing soft tissue. The acquisition provides Microline with an innovative product line that is complementary to its own and marks the company’s first foray into the cardiology and Ear Nose & Throat (ENT) markets.
“Starion’s technology is a strategic fit for our company since it enables us to offer surgeons and their patients an innovative tool in laparoscopy that perfectly complements our reposable product line; as a result, our expanded product portfolio will better address current and future procedure needs,” said Dr. Jean-Luc Boulnois, Chairman, President and Chief Executive Officer of Microline. “Furthermore, this acquisition presents the opportunity for us to grow our business within existing markets and simultaneously expand into new markets where Starion has experienced success to date.”
Headquartered in Beverly, Massachusetts, Microline PENTAX designs, develops, manufactures and markets a broad range of minimally invasive reposable surgical instruments that offer high quality and precision, combined with ease of use and affordability. Microline is a wholly owned subsidiary of HOYA Corporation in Tokyo, Japan, a $4.5 billion company with approximately half of its revenues from medical business including endoscopy and eye care. This acquisition will provide surgeons worldwide with access to Starion Instruments’ full line of advanced surgical devices and furthers HOYA’s strategy of building a minimally invasive surgical franchise on a global scale.
“Surgeons in the U.S. and abroad have been extremely receptive to Starion’s technology and we are very pleased to have the opportunity to expand its reach as part of Microline,” said Kirt Kirtland, President and Chief Executive Officer of Starion Instruments. “Microline’s leadership position in the field of laparoscopy, combined with its strong international presence, will provide valuable resources for existing and future users of Starion’s products.”
Headquartered in Sunnyvale, California, Starion Instruments develops innovative products for laparoscopic and open surgery using simple yet highly effective technologies. Unlike conventional products employing monopolar, bipolar or ultrasonic energy, Starion’s products feature the company’s patented Tissue Welding technology, which uses direct heat and pressure to simultaneously seal and divide soft tissue and vessels. Because no electrical energy is required to pass through the patient, Starion’s products minimize the risk of collateral tissue damage and provide a safe, effective and reliable solution to a broad range of cardiac, gynecological, general surgical, otolaryngologic and urologic procedures.
“Starion’s versatile technology provides an innovative approach to tissue sealing and cutting that can be integrated into a variety of platforms, such as Single Port Access surgery today, and perhaps, flexible endosurgery in the future” said Sharad Joshi, newly appointed President and Chief Operating Officer of Starion Instruments. “This presents significant growth opportunities in the field of minimally invasive surgery.”
The financial terms of the agreement were not disclosed.
About Microline PENTAX
Headquartered in Beverly, Massachusetts, Microline PENTAX, Inc. is a leading U.S. medical device manufacturer of high quality reposable surgical laparoscopic instruments. Founded in 1987, Microline PENTAX is a wholly owned subsidiary of HOYA Corporation (7741:TSE) in Tokyo, Japan, a $4.5 billion company with approximately half of its revenues from medical business including endoscopy and eye care. Microline’s integrated modular laparoscopic instrumentation system consists of a selection of reusable handpieces that utilize a broad assortment of disposable tips. This concept allows for surgical efficiency and cost effectiveness to be preserved at all times. The Company’s patented product portfolio comprises cutting, dissecting, grasping, cauterizing and ligating instruments used in all laparoscopic surgical procedures. For more information, visit www.microlinepentax.com.
About Starion Instruments
Starion Instruments™ Corp. develops advanced surgical devices that enhance performance, minimize risk and improve patient outcomes. Starion’s instruments employ a patented Tissue Welding technology that seals and divides soft tissue with only focused heat and pressure. Known for their effectiveness, reliability and versatility, Starion’s products are used worldwide for open and endoscopic cardiac, gynecology, general surgery, otolaryngology and urology procedures. For more information, visit www.starioninstruments.com.
This press release contains “forward looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially. Risks and uncertainties include general industry conditions and competition, economic conditions such as interest rate and currency exchange fluctuations, technological advances and patents obtained by competitors, challenges inherent in new product development, including obtaining regulatory clearances to market, domestic and foreign healthcare reforms and governmental laws and regulations, and trends toward healthcare cost containment.
Source: Microline PENTAX
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