Norwood Eyecare Signs Agreement with Bausch & Lomb for Distribution of Epi-LASIK In Australia and New Zealand.MELBOURNE, Austrailia -- Norwood Abbey Limited (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :NABYF, ASX ASX See: Australian Stock Exchange :NAL NAL National Agricultural Library (Agricultural Research Service; US Department of Agriculture) NAL New American Library NAL National Accelerator Laboratory NAL National Aerospace Laboratory (Japan) ): Key Points: --Norwood EyeCare appoints Bausch & Lomb (Australia) Pty. Ltd. to market Epi-LASIK in Australia and New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. --Norwood EyeCare believes Bausch & Lomb (Australia) Pty. Ltd. is a key strategic fit for the Epi-LASIK product portfolio in Australia and New Zealand --Norwood EyeCare has received first orders from Bausch & Lomb (Australia) Pty. Ltd. Norwood Abbey Limited (OTC:NABYF, ASX:NAL) today announced that its subsidiary, Norwood EyeCare and Bausch & Lomb (Australia) Pty. Ltd. have signed an agreement for the distribution of Norwood EyeCare's Epi-LASIK system (with EpiEdge(TM) disposable separator) in Australia and New Zealand. Under the agreement, Bausch & Lomb (Australia) Pty. Ltd. will be the exclusive distributor of Norwood EyeCare's Epi-LASIK system throughout Australia and New Zealand. Financial terms of the arrangement have not been disclosed. Bausch & Lomb (Australia) Pty Ltd PTY LTD Propriety Limited (company structure in Australia) is a leading player in ophthalmology within Australia and New Zealand and is the refractive refractive capacity to refract light. refractive error a difference between the focal length of the cornea and lens, and the length of the eye, resulting in myopia or hyperopia. market leader in those markets. Mr. Craig Stamp, Managing Director of Bausch & Lomb (Australia & New Zealand) said, "Norwood's Epi-LASIK system is a good fit for our existing portfolio of refractive products in Australia and New Zealand and we are pleased to be distributing this product." Epi-LASIK is the next generation in laser vision correction (LVC LVC Lebanon Valley College LVC Laser Vision Correction LVC Live Virtual Class (Sun Microsystems) LVC Levi's Vintage Clothing LVC Live Virtual Constructive (simulation space) LVC Low Voltage Cutoff ). It combines the benefits of current LVC procedures and reduces their disadvantages - particularly the need to cut the eye. Epi-LASIK received approval by the Australian Therapeutic Goods Administration The Therapeutic Goods Administration or TGA is the regulatory body for therapeutic goods (including medicines, medical devices, gene technology, and blood products) in Australia. (TGA See TARGA. TGA - Targa Graphics Adaptor ) on April 6 2005 - allowing the product to be marketed in Australia. Richard Walmsley, 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 the Norwood Devices group said, "The Company is now at the forefront of LVC in Australia and across the World, and it is fitting that we have one of the leading ophthalmology companies worldwide marketing our technology in the region. The market potential for Epi-LASIK is significant. In Australia alone, there are close to 30 laser refractive centres, with an expected 30,000 patient procedures being undertaken in 2005." Mr. Walmsley continued, "We are extremely pleased to have Bausch & Lomb (Australia) Pty Ltd as our partner for this region of the world. Partnering with such a high quality company is an integral component of our strategy to launch the Epi-LASIK product into all markets quickly. Since acquiring the Epi-LASIK technology, we have had significant interest from a number of Australian clinicians and several have placed orders. With the recent TGA approval and now with a great partner, we can fill these orders." About Norwood Abbey Norwood Abbey is a publicly listed (ASX:NAL) medical technology company, based in Melbourne. Norwood Abbey has exclusively licensed the world-wide rights from the inventor of the Epi-LASIK technology, Professor Ioannis Pallikaris, M.D., Ph.D., President of the University of Crete The University was established in 1973 and started functioning in the academic year 1977-78. As a higher education institution, it is a legal person of public law, i.e. it operates under the supervision of the State. The seat of the University is in Rethymnon. , Greece. Professor Pallikaris acts as a consultant to Norwood Abbey as a foundation member of its Clinical Advisory Board. Norwood Abbey also owns the global license and associated approvals for key components of the Norwood EyeCare Epi-LASIK System and EpiEdge(TM). The next generation approach, Epi-LASIK treatment, uses Norwood EyeCare Epi-LASIK system and EpiEdge(TM) disposable separator, removing the need to cut the eye and hence eliminating associated complications. This unique instrument gently separates a thin layer of living cells, called the epithelium, on the outside of the eye, along a natural cleavage plane. The clinician then moves the epithelial sheet to one side, the laser corrects the vision and the epithelial sheet is then moved back into place with minimal surgical manipulation. For further information on Norwood EyeCare visit www.norwoodeyecare.com |
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