Healthcare Industry News: endoscopy
News Release - October 5, 2009
PEAK Surgical and Medtronic Announce Global Distribution Agreement for the Ear, Nose, and Throat MarketPALO ALTO, Calif., Oct. 5 -- (Healthcare Sales & Marketing Network) -- PEAK Surgical, Inc. and Medtronic, Inc. (NYSE: MDT ) today announced an agreement that grants the Surgical Technologies business at Medtronic exclusive rights for global distribution and marketing of the PEAK PlasmaBlade(R) TnA (Tonsil and Adenoid) tissue dissection device for the ear, nose, and throat (ENT) market.
"PEAK's agreement with Medtronic is a major step toward our goal of capturing significant market share of the sizable global tonsillectomy and adenoidectomy market," said John Tighe, president and chief executive officer of PEAK Surgical. "Medtronic's global reach and extensive ENT product line is a great match for us and we are confident that this agreement, combined with the clinical benefits of the PEAK(R) Technology, will drive further physician adoption of our devices and technology."
The agreement provides Medtronic with exclusive global distribution rights for the PEAK PlasmaBlade TnA tissue dissection device for the ENT market. Additionally, PEAK will have access to a line of credit that can be used for general working capital purposes.
The PEAK PlasmaBlade TnA is indicated for cutting and coagulation of soft tissue during otolaryngology (ENT) surgery, including removal of the tonsils and adenoids. It is part of the PEAK PlasmaBlade family of disposable, low-temperature surgical cutting and coagulation devices that offer the exacting control of a scalpel and the bleeding control of traditional electrosurgery without the extensive collateral damage to surrounding tissue.
"The PEAK PlasmaBlade TnA complements Medtronic's current products for chronic tonsillitis, otitis media and obstructive sleep apnea," stated Mark Fletcher, president of the ENT division part of the Surgical Technologies business at Medtronic. "We're pleased to offer this technology and expand the treatment solutions we provide to our customers."
ABOUT THE ENT BUSINESS AT MEDTRONIC
Located in Jacksonville, Florida, the ENT division at Medtronic develops and manufactures products designed to treat ENT diseases. As the market leader in ENT, Medtronic is changing the way ENT surgery is performed with innovative, minimally invasive products and techniques that benefit both patients and surgeons. Main products include powered tissue-removal systems and other microendoscopy instruments, nerve monitoring systems, sleep-disordered breathing therapies, image-guided surgery systems, disposable fluid control products, and a Meniere's disease therapy device. Learn more about the ENT business on the web at www.MedtronicENT.com.
ABOUT MEDTRONIC, INC.
Medtronic, Inc. (www.medtronic.com), headquartered in Minneapolis, is the global leader in medical technology - alleviating pain, restoring health, and extending life for millions of people around the world.
ABOUT PEAK SURGICAL, INC.
PEAK Surgical, Inc. is a medical device company that has developed the PEAK(R) Surgery System, a new tissue dissection system based on a proprietary technology that represents an important advance in radiofrequency surgical technologies. The PEAK Surgery System consists of the PEAK PlasmaBlade(R), a family of disposable cutting devices that offer the exacting control of a scalpel and the bleeding control of traditional electrosurgery without extensive collateral damage, and the PULSAR(R) Generator, which supplies pulsed plasma radiofrequency energy to the PlasmaBlade. The PEAK Surgery System is cleared for use in general, plastic and reconstructive, ENT, gynecologic, orthopedic, arthroscopic, spinal and neurological surgical procedures in the United States, and for use in general surgery in the EU. It was launched in the United States in July 2008 and has been used by U.S. surgeons on more than 8,000 patients, including general, gynecologic, and plastic and reconstructive surgeries.
For more information, please visit www.peaksurgical.com.
Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's Annual Report on Form 10-K for the year ended April 24, 2009. Actual results may differ materially from anticipated results.
Source: PEAK Surgical
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