American BioMed Inc. announces plan to launch new products.THE WOODLANDS, Texas--(BUSINESS WIRE)--Dec. 17, 1996--American BioMed Inc. (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 OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:ABMI ABMI Autologous Bone Marrow Infusion ), Tuesday announced that the company in collaboration with Dr. Samuel S. Ahn plans to launch an innovative product line of flexible silicone balloon infusion catheters for thrombectomy thrombectomy /throm·bec·to·my/ (throm-bek´tah-me) surgical removal of a clot from a blood vessel. throm·bec·to·my n. Excision of a thrombus. and thrombolysis thrombolysis /throm·bol·y·sis/ (throm-bol´i-sis) dissolution of a thrombus. throm·bol·y·sis n. pl. throm·bol·y·ses Dissolution or destruction of a thrombus. in the second quarter of 1997, which will expand the company's existing product line. Prototypes are currently being tested at UCLA and 510(K) submission to the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. is expected to be completed in February 1997. Dr. Samuel S. Ahn, American BioMed's principal clinical investigator, said: "I design new products based on my own experience in the operating room and what I perceive as more efficient and beneficial to the patient as well as the surgeon that will perform the surgical procedure. I believe these products will provide surgeons with increased effectiveness, safety and user-friendliness and represent an improvement over existing products now on the market." Company President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Steven B. Rash, stated: "We continue to be encouraged that surgeons and other professionals in the medical community are choosing our all silicone balloon catheters over the alternative latex products. We expect this trend to continue given the inherent life threatening problems that latex allergy poses in operating rooms today. We are being aggressive with our commercialization efforts and we anticipate further improvement in market share for our products. These latest products are an excellent example of our strategic plan to utilize our existing technologies and bring quality products to market in order to enhance our top-line growth through stronger revenue streams." American BioMed Inc. utilizes state of the art technology to develop, manufacture and market minimally invasive medical, surgical and diagnostic devices which deliver unique advantages through advanced science. Over 25 patents cover its technologies competing in an industry with combined markets estimated at over $10-billion annually. -0- NOTE TO EDITORS: In the Internet/email address noted in this news release, there is an "at" symbol between tewinc and aol.com. This symbol may not appear properly in some systems. CONTACT: Thomas E. Waite & Associates Inc. Phone 407/324-1606, Fax 407/324-0664 email: tewinc@aol.com |
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