AMERICAN BIODYNAMICS ANNOUNCES AGREEMENT WITH UK SURGICAL PRODUCTS MANUFACTURER
AMERICAN BIODYNAMICS ANNOUNCES AGREEMENT WITH UK SURGICAL PRODUCTS MANUFACTURER TAMPA, Fla., April 20 /PRNewswire/ -- American Biodynamics, Inc. (NASDAQ: BDYNF) today announced its agreement to become the exclusive U.S. distributor for Surgicraft Ltd., a leading medical products manufacturer based in Redditch, England. The three year exclusive distribution agreement calls for ABI to distribute its internal cervical spine fixation products in the United States. The key component of this product line is the well-known Hartshill Spinal Fixation System(R). Products to be distributed under this agreement will be sold by selected ABI distributors beginning in April 1992. This system is used to stabilize the spine in situations where the spine has been compromised due to fracture, tumor removal or the degenerative effects of rheumatoid arthritis. These products can be used in combination with ABI's bone graft products. Management estimates the U.S. market for product applications is 35,000 procedures annually with an estimated market size of approximately $5 million. This market is currently growing at an annual rate of 8 percent. Additionally, ABI and Surgicraft Ltd. will be evaluating opportunities for new products in the spinal fixation market, and will cooperate in market research activities towards this end. John V. Hargiss, president, stated "ABI is attracted to this market opportunity with Surgicraft due to existing market fragmentation, the absence of a clear current market leader, significant competitive cost advantages and the fit with our existing product line and distributors. We are enthused about this new opportunity to expand our product offerings to neurosurgery."
American Biodynamics, Inc. provides high quality specialty surgical products to the neuro, orthopedic, and plastic and reconstructive surgical specialties. The company is chartered in British Columbia, Canada, and has its executive offices in Tampa.
-0- 4/20/92 /CONTACT: John V. Hargiss, or Marti Bruce, American Biodynamics, 813-979-0016/ (BDYNF) CO: American Biodynamics Inc.; Surgicraft Ltd. ST: Florida IN: HEA SU:
SH -- NY034 -- 9982 04/20/92 11:01 EDT
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|Date:||Apr 20, 1992|
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