Bovie Medical Corporation Announces FDA Clearance to Market New Laparoscopic Instruments.MELVILLE, N.Y. -- Bovie Medical Corporation (the "Company") (Amex: BVX), a manufacturer and marketer of electrosurgical products, today announced that it has received U.S. 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. ) 510(k) clearance to market a new line of patent pending advanced modular laparoscopic Laparoscopic A minimally-invasive surgical or diagnostic procedure that uses a flexible endoscope (laparoscope) to view and operate on structures in the abdomen. Mentioned in: Obstetrical Emergencies electrosurgical electrodes and handle, aimed at the laparoscopic and arthroscopic markets. The Modular Ergonomic Instruments (MEG) family combined with Bovie's advanced electrosurgical generators offers users unprecedented cost savings as well as reduced and simplified inventory. The high quality, reusable, insulated MEG line handle comes with light metallic grips, transparent ratchet and ergonomic design, which is expected to reduce surgeon fatigue and improve tactile feel. The handle accepts reusable tip inserts. Additionally, the loading and detachment of tips is simple with minimal required user training. It is estimated that the total annual worldwide market for this product line exceeds $200 million. In other news, the Company announced that Mr. Gary Pickett has been promoted to Chief Financial Officer. Mr. Pickett has been the Company's Controller since March 27, 2006. Mr. Pickett previously held financial and accounting positions with Progress Rail Services, Progress Energy and Florida Power Corporation Florida Power Corporation was the generation, transmission, and distribution sector of Florida Progress Corporation. The company distributed power over much of central and north Florida. Today the company operates as Progress Energy Florida. . Mr. Pickett is a CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. with extensive experience in Sarbanes-Oxley implementation as well as GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). accounting and SEC reporting. He holds an MBA from Tampa University, B.S. from Florida State and served five years as a field artillery officer in the United States Army United States Army Major branch of the U.S. military forces, charged with preserving peace and security and defending the nation. The first regular U.S. fighting force, the Continental Army, was organized by the Continental Congress on June 14, 1775, to supplement local . This document may contain some forward looking statements, particularly regarding operational prospects in 2006 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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