InnerDyne Grants Maxxim Medical U.S. Marketing Rights for INNERVASC Vascular Access Product.Business/Health Editors SUNNYVALE, Calif.--(BW HealthWire)--March 29, 2000 InnerDyne, 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 : IDYN) today announced it has signed an agreement granting Maxxim Medical, Inc., a major medical products manufacturer and distributor headquartered in Clearwater, Fla., exclusive U.S. and South American sales and distribution rights to InnerDyne's INNERVASC(TM) product for percutaneous percutaneous /per·cu·ta·ne·ous/ (per?ku-ta´ne-us) performed through the skin. per·cu·ta·ne·ous adj. Passed, done, or effected through the unbroken skin. vascular access vascular access Clinical medicine The ability to enter the vascular system; the ease with which the vascular system can be entered for administering therapy or obtaining blood for testing in the fields of cardiology, radiology, neuroradiology neuroradiology /neu·ro·ra·di·ol·o·gy/ (-ra?de-ol´ah-je) radiology of the nervous system. neu·ro·ra·di·ol·o·gy n. 1. The branch of radiology that deals with the nervous system. and critical care. The agreement will take effect after InnerDyne receives final clearance from the Food and Drug Administration of its 510(k) application for a revised product design that was originally submitted in August 1999. It is estimated that over 6 million percutaneous procedures are performed each year worldwide, including more than 4 million procedures in the U.S. This represents a market potential for the INNERVASC system in excess of $300 million. "InnerDyne is pleased to announce a distribution relationship with one of the country's leading suppliers of percutaneous vascular access sheaths. Maxxim's Vascular System Group's market focus, complementary products and sales organization will provide an excellent opportunity for InnerDyne's radial dilation dilation /di·la·tion/ (di-la´shun) 1. the act of dilating or stretching. 2. dilatation. di·la·tion n. 1. technology to positively impact patient recovery and comfort following catheterization catheterization Threading of a flexible tube (catheter) through a channel in the body to inject drugs or a contrast medium, measure and record flow and pressures, inspect structures, take samples, diagnose disorders, or clear blockages. procedures," said William G. Mavity, president and chief executive officer of InnerDyne. "Further, this agreement will permit InnerDyne to continue to dedicate its internal resources to the minimally invasive surgical access market, which represents the Company's primary strategic focus." Financial terms of the agreement with Maxxim were not disclosed. Maxxim Medical, Inc is a major diversified developer, manufacturer and marketer of specialty medical products for use in acute and alternate care settings. InnerDyne, Inc. designs, develops, manufactures and commercializes minimally invasive surgical access products incorporating its proprietary radial dilation technology. The Company also is pursuing applications for radial dilation in areas outside its primary market focus, and improvements in its proprietary biocompatible biocompatible /bio·com·pat·i·ble/ (-kom-pat´i-b'l) being harmonious with life; not having toxic or injurious effects on biological function. coatings technologies, which it intends to commercialize either internally or through strategic alliances. |
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