Bovie Medical Announces Joint Venture to Manufacture and Market J-Plasma; A New Surgical Plasma Technology Device.Business Editors, Health/Medical Writers MELVILLE, N.Y.--(BUSINESS WIRE)--March 2, 2000 Bovie Medical Corporation (the "Company" or "Bovie") (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. Symbol:BOVI), a manufacturer and marketer of electrosurgical products today announced that it entered into a co-equal joint venture with a European technology development company to manufacture and market worldwide, J-Plasma, a new-patented plasma technology that could significantly improve current surgical procedures Surgical procedures have long and possibly daunting names. The meaning of many surgical procedure names can often be understood if the name is broken into parts. For example in splenectomy, "ectomy" is a suffix meaning the removal of a part of the body. "Splene-" means spleen. . Although J-Plasma will initially be utilized in plastic surgery and dermatology, management anticipates possible uses in many types of surgery, including cancer, neuro, cardiovascular and gynecologic gynecologic /gy·ne·co·log·ic/ (gi?ne-) (jin?e-kah-loj´ik) pertaining to the female reproductive tract or to gynecology. and endoscopic en·do·scope n. An instrument for examining visually the interior of a bodily canal or a hollow organ such as the colon, bladder, or stomach. en procedures. The device produces a stable thin focused beam of ionized i·on·ize tr. & intr.v. i·on·ized, i·on·iz·ing, i·on·iz·es To convert or be converted totally or partially into ions. i gas that can be controlled in a wide range of temperatures and intensities providing the surgeon with precision, minimal invasiveness and an absence of conductive currents during surgery. The joint venture is developing its first commercial prototypes for uses in dermatology and plastic surgery and upon their completion; Bovie intends to file the appropriate applications with the Food and Drug Administration (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. ) for these uses. Applications in other areas of surgery require further testing and will be subject to FDA approvals. Bovie's management believes J-Plasma is potentially an important advance to traditional surgical operations and will be cost effective and complementary to Bovie's electrosurgical product line. Bovie, through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Aaron Medical Industries, is engaged in the engineering, manufacturing and marketing of electrosurgical medical products. This document may contain some forward looking statements, particularly regarding operational prospects in 1999 and beyond, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risks are listed from time to time in the Company's SEC filings. |
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