Advanced Neuromodulation Systems Announces Japan Distribution Agreement With Boston Scientific.Business Editors DALLAS--(BUSINESS WIRE)--Dec. 10, 2002 Advanced Neuromodulation Systems, Inc. (ANS (ANS Communications, Inc, Purchase, NY) An ISP, Internet backbone and provider of private data network services, founded in 1990 as Advanced Network & Services, Inc., by IBM, MCI and Merit (consortium of Michigan universities). ) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ANSI (American National Standards Institute, New York, www.ansi.org) A membership organization founded in 1918 that coordinates the development of U.S. voluntary national standards in both the private and public sectors. It is the U.S. member body to ISO and IEC. ) announced today that it has entered into a long-term distribution agreement with Boston Scientific The Boston Scientific Corporation (NYSE: BSX) (abbreviated BSC), is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a range of interventional medical specialties, including interventional cardiology, peripheral interventions, Corporation (NYSE NYSE See: New York Stock Exchange :BSX BSX Bermuda Stock Exchange BSX Bandai Satellaview-X BSX Bicycle Super-X (Cross) ) under which ANS grants Boston Scientific the right to distribute in Japan ANS' implantable systems for the management of chronic pain and other disorders of the central nervous system. Terms of the agreement were not disclosed. ANS products covered by the distribution agreement include implantable neurostimulation devices, which deliver electric current directly to targeted nerves, and implantable infusion pumps, which deliver small, precisely controlled doses of drugs directly to targeted sites within the body. Boston Scientific Japan will be responsible for gaining appropriate regulatory and reimbursement approvals and for all market development and selling activities to neurosurgeons and other medical specialists. The ANS products will complement Boston Scientific's current offering of neurovascular aneurysm aneurysm (ăn`y  rĭzəm), localized dilatation of a blood vessel, particularly an artery, or the heart. coils, microcatheters and specialty products represented by the Target Therapeutic business unit. "ANS has multiple opportunities for expansion in the rapidly growing neuromodulation market," said Chris Chavez, President and Chief Executive Officer of Advanced Neuromodulation Systems. "A key element of our growth strategy is to leverage the strengths and capabilities of well-chosen partners who can help us pursue geographic and product opportunities we might not be able to fully exploit on our own. Boston Scientific is ANS' ideal regulatory and marketing partner in Japan -- they are well-established and successful in this important market and can bring resources and expertise to bear there that ANS cannot. Gaining regulatory and reimbursement approvals in Japan will take time and money, which Boston Scientific has agreed to expend for the right to distribute our products there. We are pleased to partner with a company with the stellar reputation and capabilities of Boston Scientific in what could become a major market for ANS' products." "We are excited about the opportunity to work with a high caliber organization like Advanced Neuromodulation Systems to help us expand the breadth of our business in Japan," said Ed Northup, President of Boston Scientific Japan. "This agreement gives us the opportunity to build on our existing infrastructure and expertise in the Japanese market by bringing ANS' important products to physicians and their patients." About Advanced Neuromodulation Systems Advanced Neuromodulation Systems designs, develops, manufactures and markets implantable systems used to manage chronic intractable pain intractable pain Refractory pain Pain medicine Persistent pain which does not respond to at least 3 dosease of parenteral analgesics given over a 12-24 hr period; pain that does not respond to appropriate doses of opioid analgesics. and other disorders of the central nervous system. Forbes magazine recently recognized ANS as one of America's 200 Best Small Companies. Additional information is available at www.ans-medical.com. About Boston Scientific Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices. The Company's products are used in a broad range of interventional medical specialties Medical Specialties See also anatomy; disease and illness; drugs; health; remedies; surgery. adenography the science of the description of glands. — adenographic, adj. . "Safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Statements contained in this press release that are not based on historical facts are "forward-looking statements." Terms such as "plan," "should," "would," "anticipate," "believe," "intend," "estimate," "expect," "predict," and similar expressions are intended to identify forward-looking statements. Such statements are by nature subject to uncertainties and risks, including but not limited to: obtaining regulatory approvals in Japan on a timely and cost-efficient basis; the satisfactory completion of any clinical trials and/or market tests required; obtaining adequate reimbursement for ANS' products in Japan; competition; and other risks detailed from time to time in the Company's SEC filings. Consequently, if such management assumptions prove to be incorrect or such risks or uncertainties materialize, anticipated results could differ materially from those forecast in forward-looking statements. |
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