Synergetics USA, Inc. Announces Sales of First Vitra(TM) Lasers
August 28 2006 - 10:26AM
PR Newswire (US)
O'FALLON, Mo., Aug. 28 /PRNewswire/ -- Synergetics is pleased to
report the first sales of Quantel's Vitra(TM) laser units in the
United States. Synergetics previously entered into a three-year
distribution agreement with Quantel Medical of France in June of
2006 that gives Synergetics exclusive distribution rights of the
Vitra(TM) laser for the operating room and non- exclusive
distribution rights for the ophthalmic office. These initial sales
occurred as the Company received its first demonstration units and
as the sales staff began training on the devices. "Laser technology
offers Synergetics an expanded opportunity into the ophthalmic
market, and we expect to continue to be successful in our sales of
this product," said Gregg D. Scheller, President and Chief
Executive Officer of Synergetics USA, Inc. "Synergetics has
typically focused on smaller, select market segments for
competitive reasons. The Vitra(TM) distribution agreement now
provides us with a very competitive product to sell into the
operating room, as well as doctor's offices. Through our
ever-expanding sales network and group of office products, we
expect the Vitra(TM) laser to become a very successful addition to
our product portfolio." With the Vitra(TM) laser, Synergetics
enters a market estimated at approximately $40 million. This market
size is greater than the combined market segment sizes for all
other ophthalmic products previously sold by the Company and
therefore offers an opportunity for significant growth. About
Synergetics USA, Inc. Synergetics USA, Inc. resulted from the
September 2005 combination of Valley Forge Scientific Corp. and
Synergetics, Inc., bringing together their respective unique
capabilities in bipolar electrosurgical generators and design,
manufacture and marketing of microsurgical hand instruments.
Synergetics USA, Inc. designs, manufactures and markets medical
devices for use primarily in ophthalmic surgery and neurosurgery
and for other healthcare applications. Its products are designed
and manufactured to support micro or minimally invasive surgical
procedures. In addition to its surgical devices and equipment, it
designs and manufactures disposable and non-disposable supplies and
accessories for use with such devices and equipment. It also
manufactures and sells bipolar electrosurgical generators and other
generators, based on its DualWave(TM) technology, and complementary
instrumentation and disposable products for use in neurosurgery,
spine surgery, pain control and in dental applications. Synergetics
sells its products primarily to hospitals, clinics and surgeons in
approximately 70 countries. 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 are based upon current expectations and
beliefs and are subject to a number of factors. These
forward-looking statements are subject to risks and uncertainties
that may cause actual results to differ materially from those
indicated in the forward- looking statements, including but not
limited to: the effects of local and national economic, credit and
capital market conditions on the economy in general, and on the
medical device industry in particular, and the effects of foreign
exchange rates and interest rates; the ability to timely and cost-
effectively integrate the operations of Synergetics, Inc., now a
wholly owned subsidiary of the Company, with the historical
business of Valley Forge Scientific Corp.; the ability to realize
the synergies and other perceived advantages resulting from our
recently completed merger; the ability to attract new strategic
partners for the distribution of our products and to maintain our
relationships with existing distribution strategic partners; the
ability to identify new product offering opportunities, which may
include partnering with original equipment manufacturers (OEM) and
to bring effectively such products to market and/or maintain our
relationships with our existing OEM partners; the ability to
attract and retain key personnel; the ability to meet all existing
and new U.S. FDA requirements and comparable non- U.S. medical
device regulations in jurisdictions in which the Company conducts
its business; the ability of Synergetics to successfully execute
its business strategies; the extent and timing of market acceptance
of new products or product indications; the ability of Synergetics
to procure, maintain, enforce and defend its patents and
proprietary know how; changes in laws, including increased tax
rates, regulations or accounting standards, third-party relations
and approvals, and decisions of courts, regulators and governmental
bodies; the ability of Synergetics to continue to increase customer
loyalty; the ability to recoup costs of capital investments through
higher revenues; the effects of environmental and structural
building conditions related to the Company's properties; acts of
war or terrorism incidents; the effects of operating and market
competition; and other important factors disclosed previously and
from time to time in Synergetics' filings with the SEC. Synergetics
undertakes no obligation to update these forward-looking
statements. SYNERGETICS USA, INC. 3845 Corporate Centre Drive
O'Fallon, Missouri 63368 (636) 939-5100
http://www.synergeticsusa.com/ Attn: Pamela G. Boone, Chief
Financial Officer DATASOURCE: Synergetics USA, Inc. CONTACT: Pamela
G. Boone, Chief Financial Officer, Synergetics USA, Inc.
+1-636-939-5100 Web site: http://www.synergeticsusa.com/
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