Healthcare Industry News: MicroThermX
News Release - December 22, 2010
BSD Medical Implements Dedicated MicroThermX Worldwide Sales and Distribution NetworkSALT LAKE CITY--(Healthcare Sales & Marketing Network)-- Maximizing production capacity, completing placement of systems in multiple hospitals, and witnessing early clinical successes with the MicroThermX Microwave Ablation (MicroThermX) line of products have paved the way for BSD Medical Corporation (Nasdaq:BSDM ) to take its sales and distribution strategy to the next level. BSD is in the final process of establishing both domestic and international distribution networks dedicated to selling its exciting new microwave ablation product line. BSD has elected to pursue the strategy of utilizing a network of specialty distribution firms focused on selling products in the field of interventional radiology, the target market for the Company’s ablation product line. The Company has identified seven regionally specific US firms that will provide as many as 60 sales representatives to promote, sell and service the MicroThermX product line throughout the United States. Early training of some of these specialty distributors is currently under way. BSD anticipates finalizing geographically exclusive distribution agreements with all of the identified firms in the coming weeks. Full sales coverage of the United States should be in place within the first quarter of calendar year 2011.
Building on its success in exhibiting MicroThermX during the October Cardiovascular and Interventional Radiological Society of Europe (CIRSE) meeting held in Valencia, Spain, BSD made great strides toward its effort to establish international interventional radiology distribution firms on a country-by-country basis. Company management met with over 40 international distribution firms during the CIRSE meeting. As a result of these meetings and the high level of interest expressed by all of the international distributors, BSD started contract negotiations with select European based firms and expects to begin international shipments of MicroThermX Microwave Ablation Systems and supplies of SynchroWave disposable microwave antennas in January 2011. A return trip to Europe is scheduled for this coming January to visit the headquarters of these specialty distribution firms to finalize contract negotiations and begin training of international distributor sales representatives.
To support the global distribution network for the MicroThermX product line, the Company is increasing its marketing and sales staff. Management has recently secured the employment of a senior medical device marketing person and is currently interviewing multiple candidates for domestic and international sales management. Increasing MicroThermX marketing and sales resources to support the existing BSD management team is key to making the strategic decision to utilize specialty distribution firms a success. Additional marketing and sales resources will provide effective hands-on field training and management of the distribution network and the large number of sales personnel that this new distribution network will bring to BSD Medical.
About the MicroThermX Microwave Ablation System
The MicroThermX Microwave Ablation System (MTX-180) is a compact, mobile, state-of-the-art, proprietary system that includes a microwave generator, single-patient-use disposable antennas, and a thermistor-based temperature monitoring system. The innovative design of the MTX-180 is the first of its kind that allows delivery of higher power levels using a single generator. The MTX-180 utilizes innovative synchronous phased array technology that was developed and patented by BSD to provide larger and more uniform zones of ablation during a single procedure. The MTX-180 introduces into the Company’s product line an innovative, high-end disposable that is used in each ablation treatment, and will provide a significant ongoing revenue stream. The soft tissue ablation world market potential is estimated to exceed $2.3 billion. The U.S. Food and Drug Administration (FDA) has granted the Company a 510(k) clearance to market the MTX-180 for ablation of soft tissue. BSD has also received CE Marking for the MTX-180 System. CE marking approval allows BSD to market the MTX system in the 30 countries that comprise the European Union (EU) and the European Free Trade Association (EFTA). CE marking is also recognized in many countries outside of the EU, providing BSD the ability to market the MTX to a number of international markets.
About BSD Medical Corporation
BSD Medical Corporation develops, manufactures, markets and services systems to treat cancer and benign diseases using heat therapy delivered using focused radiofrequency (RF) and microwave energy. BSD’s product lines include both hyperthermia and ablation treatment systems. BSD’s hyperthermia cancer treatment systems, which have been in use for several years in the United States, Europe and Asia, are used to treat certain tumors with heat (hyperthermia) while increasing the effectiveness of other therapies such as radiation therapy. BSD’s microwave ablation system has been developed as a stand-alone therapy to ablate and destroy soft tissue. The Company has developed extensive intellectual property, multiple products in the market and well established distribution in the United States, Europe and Asia. Certain of the Company’s products have received regulatory approvals in the United States, Europe and China. For further information visit BSD Medical's website at www.BSDMedical.com.
Statements contained in this press release that are not historical facts are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date on which such statements are made, and the Company undertakes no obligation to update such statements to reflect events or circumstances arising after such date.
Source: BSD Medical
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