Healthcare Industry News: Codman
News Release - November 16, 2009
Synergetics USA, Inc. Announces Addendum to Marketing Partner Agreement with Codman & Shurtleff, Inc. for Disposable Bipolar Forceps
O’FALLON, Mo.--(HSMN NewsFeed)--Synergetics USA, Inc. (NASDAQ: SURG ), a medical device company that designs, manufactures, and markets innovative microsurgical instruments and other devices, today announced the signing of an addendum to its three year agreement with Codman & Shurtleff, Inc. (“Codman”).Under the terms of the revised agreement, Codman will have the exclusive right to market and distribute a Spetzler-Malis branded disposable bipolar forceps produced by Synergetics.
“We are pleased to announce our extended agreement with Codman,” commented David Hable, President and Chief Executive Officer of Synergetics USA. “Codman and Synergetics have had a mutually beneficial relationship for over 25 years. We believe we will realize increased revenue as a result of this exceptional product being distributed by a more mature, worldwide Codman sales and marketing organization. In addition, this arrangement supports our ongoing efforts to reduce commercial expenses associated with our neurosurgery product lines. Codman is an important and valued partner of Synergetics and we look forward to our continued relationship under the extended agreement,” Hable concluded.
About Synergetics USA, Inc.
Through continuous improvement and development of our people, our mission is to design, manufacture and market innovative microsurgical instruments and consumables of the highest quality in order to assist and enable surgeons who perform microsurgery around the world to provide a better quality of life for their patients.
Synergetics USA, Inc. (“Synergetics USA” or the “Company”) is a leading supplier of precision microsurgery instrumentation. The Company’s primary focus is on the microsurgical disciplines of ophthalmology and neurosurgery. Our distribution channels include a combination of direct and independent sales organizations and important strategic alliances with market leaders. The Company’s product lines focus upon precision engineered, microsurgical, hand-held instruments and the delivery of various energy modalities for the performance of less invasive microsurgery including: (i) laser energy, (ii) ultrasonic energy, (iii) radio frequency for electrosurgery and oblation and (iv) visible light energy for illumination, and where applicable, simultaneous infusion (irrigation) of fluids into the operative field. The Company’s website address is http://www.synergeticsusa.com.
Forward-Looking Statements
Some statements in this release may be “forward-looking statements” for the purposes of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by words such as “believe,” “expect,” “anticipate,” “plan,” “potential,” “continue” or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in Synergetics’ Annual Report on Form 10-K for the year ended July 31, 2009, as updated from time to time in our filings with the Securities and Exchange Commission.
Source: Synergetics
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