ArthroCare Europe AB to Manage Relationships With International Arthroscopy Distributors; Move Designed To Bring Company Closer To Customers.Business Editors/Health & Medical Writers STOCKHOLM, Sweden--(BW HealthWire)--July 4, 2000 ArthroCare Europe AB today announced that it has assumed direct management of the company's international arthroscopy Arthroscopy Definition Arthroscopy is the examination of a joint, specifically, the inside structures. The procedure is performed by inserting a specifically designed illuminated device into the joint through a small incision. distributors in the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community and selected other countries. Under the new management structure in those countries, which became effective July 1, 2000, ArthroCare Europe will expand its management of ArthroCare's ear, nose and throat (ENT ENT ears, nose, and throat (otorhinolaryngology). ENT abbr. ear, nose, and throat ENT ear, nose and throat. ENT Ears, nose & throat; formally, otorhinolaryngology ), spinal surgery, and neurosurgery neurosurgery /neu·ro·sur·gery/ (noor´o-sur?jer-e) surgery of the nervous system. neu·ro·sur·ger·y n. Surgery on any part of the nervous system. distribution efforts to include arthroscopy. ArthroCare Europe is the international headquarters of ArthroCare Corporation (Nasdaq:ARTC ARTC Arthrocare Corp (stock symbol) ARTC Australian Rail Track Corporation ARTC Air Route Traffic Control ARTC Association de la Recherche Theatrale au Canada ARTC Andean Root and Tuber Crops ). Some of the distributors covered by the new arrangement were previously marketing ArthroCare's arthroscopy products under a corporate umbrella contract with Arthrex Corporation, which ArthroCare has terminated. In removing a layer of management, ArthroCare Europe believes it can offer customers an increased level of support and more competitive end-user pricing. ArthroCare Corporation said the move did not have a material affect on the second quarter, ended July 1, 2000, and does not expect it to have a material affect on ongoing operations. "Over the past few years, we have significantly strengthened our international infrastructure," said Sten Dahlborg, managing director of ArthroCare Europe. "It now makes sense to extend direct management of the arthroscopy business and to match our international business model to the very successful business model the company operates in the United States. By simplifying the relationship between our international arthroscopy distribution network and ArthroCare Europe, we believe we can provide better service and more competitive pricing to our customers." ArthroCare's products allow surgeons to operate with a high level of precision and control, limiting damage to surrounding tissue and thereby potentially reducing pain and speeding recovery for the patient. The company's products operate at lower temperatures than traditional electrosurgical or laser surgery tools and enable surgeons to remove, shrink or sculpt sculpt v. sculpt·ed, sculpt·ing, sculpts v.tr. 1. To sculpture (an object). 2. To shape, mold, or fashion especially with artistry or precision: soft tissue and to seal bleeding vessels. ArthroCare is a medical device company that develops, manufactures and markets products based on its patented Coblation technology. ArthroCare's soft-tissue surgery systems consist of a controller unit and an assortment of single-use disposable devices that are specialized for specific types of surgery. The company believes its Coblation technology can replace the multiple surgical tools traditionally used in soft-tissue surgery with one multi-purpose surgical system. Coblation technology is applicable across many soft-tissue surgical markets. The company's strategy includes applying its patented Coblation technology to a broad range of soft-tissue surgical markets, including arthroscopic surgery Arthroscopic Surgery Definition Arthroscopic surgery is a procedure to visualize, diagnose, and treat joint problems. The name is derived from the Greek words arthron, which means joint, and skopein, which means to look at. , cosmetic surgery cosmetic surgery, plastic surgery for cosmetic purposes, such as the improvement of the appearance of the face by removing wrinkles or reshaping the nose. , ear, nose and throat surgery, spinal surgery, neurosurgery, general surgery, and various cardiology applications. The company's website is at www.arthrocare.com. Except for historical information, this press release includes forward-looking statements including, but not limited to, the company's fundamental position, continued success of certain product lines and strategies, the strength of the company's market position in Europe, the affect of changes in contractual relationships on operations, and other statements that involve risks and uncertainties. These risks and uncertainties are detailed from time to time in the company's Securities and Exchange Commission filings, including ArthroCare's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended January 1, 2000 and Form 10-Q Form 10-Q See 10-Q. for the quarter ended April 1, 2000. Forward-looking statements are indicated by words or phrases such as "anticipates", "estimates", "projects", "believes", "intends", "expects", and similar words and phrases Words and Phrases® A multivolume set of law books published by West Group containing thousands of judicial definitions of words and phrases, arranged alphabetically, from 1658 to the present. . Actual results may differ materially from management expectations. The company disclaims any obligation to update any of the forward-looking statements contained herein to reflect future events or developments. |
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