Laserscope Announces Strategic Alliance with Celebration Health; State-of-the-Art Hospital is Centerpiece of New Walt Disney-Inspired Community.ORLANDO, Fla.--(BW HealthWire)--Nov. 20, 1997--Laserscope (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 :LSCP LScP left scapuloposterior (position of fetus). ) announced today that it has entered into a strategic alliance with Celebration Health, a new, innovative health care facility in the Walt Disney-inspired community of Celebration, Fla. near Orlando. The Celebration Company, a 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. of The Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Company, selected Florida Hospital to lead the development of Celebration Health, the community's health cornerstone. The new 315,000-sq. ft. facility features state-of-the-art surgery and diagnostic centers, rehabilitation and sports medicine sports medicine, branch of medicine concerned with physical fitness and with the treatment and prevention of injuries and other disorders related to sports. Knee, leg, back, and shoulder injuries; stiffness and pain in joints; tendinitis; "tennis elbow"; and clinics, health activities and fitness centers, primary care services, specialty physicians, a dental clinic and a pharmacy. Its phase one grand opening is taking place this week. "We are pleased to join forces with a medical facility like Celebration Health," said Robert V. McCormick, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Laserscope. "Leading physicians and hospital administrators from around the world will visit the facility to examine advanced medical technology and the very latest in patient care. Celebration Health will be a national showcase for Laserscope's innovative medical products." "At Laserscope, we believe advanced technology leads to improved patient care. Celebration Health's mission and philosophy are very much in concert with our own patient care vision by providing the very best in optimized treatments and therapies. Both organizations are fully committed (Law) committed to prison for trial, in distinction from being detained for examination. See also: Fully to improving the quality and cost effectiveness of the health care delivery system," McCormick said. "Laserscope was asked to hnology. Its products have a reputation for valllcome, Sprint, Wyeth-Ayerst Laboratories, Delta Dental and Astra Merck. At Celebration, Laserscope has supplied products from its Ascent Medical Systems(TM) (AMS AMS - Andrew Message System )ation systems to remove harmful microscopic debrem which allows viewing of live or recorded prting, teaching, teleconferencing and documentation of cases. Celebration Health also selected Laserscopptimum health as a foundation for the pursuit of happi ness. The medical center will serve Central Florida as well as a national and international visitors. We are pleased to have Laserscope as one of our partners in this new and exciting venture," said Cummings. Laserscope designs, manufactures, sells and services on a worldwide basis an advanced line of medical laser systems and related energy delivery devices for the office, outpatient surgical center and hospital markets. The Company is a pioneer in the development and commercialization of lasers and devices for photoselective medicine to treat cancer and other diseases. It has a strategic alliance with QLT QLT Quadra Logic Technologies QLT Quick Link Text PhotoTherapeutics, Inc., whose proprietary drug PHOTOFRIN(R), which can be activated by Laserscope light sources, is the only photodynamic therapy photodynamic therapy n. A type of phototherapy in which a nontoxic light-sensitive compound that has been injected into a patient is exposed selectively to light, whereupon it becomes toxic to targeted malignant and other diseased cells. drug to date to receive marketing clearance in any world jurisdiction. Its Ascent Medical Systems(TM) (AMS) provide innovative, custom equipment solutions for surgical suites and medical treatment rooms. More information on Laserscope and its products can be found on the Company's Website at www.laserscope.com . Statements in this announcement about future results are preliminary and based on partial information and assumptions. Except for the historical information presented, the matters discussed in this announcement contain forward-looking statements that involve risks and uncertainties, including the timely introduction and market acceptance of new products and procedures, the development and rate of growth of new markets and treatments, the impact of competitive products and technologies, consumer acceptance of and demand for the medical procedures targeted by the company, and other risks detailed from time to time in the Company's public disclosure filings with the U.S. Securities and Exchange Commission (SEC). Copies of the most recent Forms 10K and 10Q are available upon request from Laserscope's Investor Relations Investor relations The process by which the corporation communicates with its investors. Department. CONTACT: Laserscope Richard Wood, 408/943-0636 (IR/Media) Dennis LaLumandiere, 408/943-0636 (Financial) or Hilary Kaye Associates Hilary Kaye or Shelle Murach, 714/851-5150 |
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