Bovie Medical Corporation Completes Manufacturing and Distribution Agreements with Canady Technology.MELVILLE, N.Y. -- Bovie Medical Corporation (the "Company") (Amex: BVX BVX Bulk Viscosity of Xenon ), a manufacturer and marketer of electrosurgical products, today announced that it has entered into distribution and manufacturing agreements with Canady Technology, LLC for its plasma related products. Bovie will manufacture several types of argon plasma accessories for Canady Technology as well as distribute Canady products worldwide. The founder of Canady Technology, Dr. Jerome Canady, who holds several plasma related patents, is recognized as a clinical expert in plasma technology and is the Director of the Institute for Advanced Biological Technical Sciences in Hampton, Virginia. Dr. Canady will also assist in the clinical development of Bovie's J-Plasma technology, which will be co-labeled and marketed alongside the Canady Technology products upon eventual submission and clearance by 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. . Commenting on the agreements, Dr. Canady said, "Bovie is a recognized name in electrosurgery electrosurgery /elec·tro·sur·gery/ (-ser´jer-e) surgery performed by electrical methods; the active electrode may be a needle, bulb, or disk.electrosur´gical e·lec·tro·sur·ger·y n. and Canady Technology is a leader in medical applications for plasma; blending the two organizations through these agreements, could result in a powerful combination for new technologies and market potential." Andrew Makrides, president of Bovie Medical, added, "Under Dr. Canady's leadership, Canady Technology has been at the forefront in the use of plasma in the medical industry, and we look forward to partnering with Dr. Canady in what should be a mutually beneficial long term relationship." About Canady Technology, LLC - Canady Technology is a private medical technology, research and development corporation located in McKeesport, PA. and Hampton,VA. Its focus is developing advanced, innovative, high quality biomedical devices using plasma technology. The Company was founded by Jerome Canady, M.D. who is chairman of the board and chief executive officer. Dr. Canady is a transplant surgeon who completed his transplant fellowship at Yale University School of Medicine/Yale New Haven Hospital and the University Of Pittsburgh Medical Center The University of Pittsburgh Medical Center (UPMC) is a leading American healthcare provider and institution for medical research. It consistently ranks in US News and World Report's "Honor Roll" of the approximately 15 best hospitals in America. , Thomas E. Starzl Transplantation Institute. He is certified by the American Society of Transplant Surgeons and the American Board of Surgery The American Board of Surgery (ABS) is an independent, non-profit organization based in Philadelphia founded for the purpose of certifying surgeons who have met a defined standard of education, training and knowledge. . In May 1993, Dr. Canady received a US patent for a surgical coagulator coagulator /co·ag·u·la·tor/ (ko-ag´u-la?ter) a surgical device that utilizes electrical current or light to stop bleeding. argon beam coagulator device patent #5,207,675 and in 1999; the European patent office issued the corresponding patent. Dr. Canady was the first to demonstrate the utilization of tissue coagulation coagulation (kōăg'y  lā`shən), the collecting into a mass of minute particles of a solid dispersed throughout a liquid (a sol), usually followed by the precipitation or by argon
plasma coagulation Argon plasma coagulation or APC is a medical endoscopic procedure used primarily to control bleeding from certain lesions in the gastrointestinal tract, and also sometimes to debulk tumours in the case of patients for whom surgery is not recommended. via flexible endoscopes.
This document may contain some forward looking statements, particularly regarding operational prospects in 2007 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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