PALOMAR MEDICAL TECHNOLOGIES, INC.'S SPECTRUM SUBSIDIARY ENTERS INTO WORLDWIDE MARKETING AND SALES AGREEMENT.BEVERLY, Mass.--(BUSINESS WIRE)--May 3, 1995--PALOMAR MEDICAL TECHNOLOGIES, 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 : PMTI PMTI Potomac Massage Training Institute PMTI Project Management Training Institute ) announced today that its subsidiary SPECTRUM MEDICAL TECHNOLOGIES, INC. ("SPECTRUM") of Natick, Massachusetts and DYNAMIC LIGHT LIMITED ("DYNAMIC") of Milton Keynes, UK and Sydney, Australia have formed a strategic alliance for the global marketing and sales of their complementary dermatology laser products. SPECTRUM currently has a strong marketing and sales presence in North America and Japan while DYNAMIC is active in Europe, the Middle East and the Pacific Rim. Through this agreement SPECTRUM will be able to access a worldwide market for its highly accepted Ruby laser treatment for benign pigmented lesions and tattoos. The addition of the DYNAMIC copper vapor laser Copper vapor laser (CVL) uses vapors of copper as the lasing medium. It produces green laser light at 510.6 nm and yellow laser light at 578.2 nm. The pulse width is typically from 5 to 60 ns, and peak power from 50 to 5000 kW. expands SPECTRUM's product line to include a treatment for cosmetic vascular lesions. Sanford Lane, SPECTRUM MEDICAL TECHNOLOGIES, INC.'s 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. said : "SPECTRUM and DYNAMIC products are extremely complementary, allowing each organization to offer its customers a complete range of the best devices for treating most problems encountered in dermatology". Peter E. Taylor, Managing Director of DYNAMIC LIGHT LIMITED stated that: "The use of our complementary geographical marketing strength catapults both companies forward to a global presence." SPECTRUM MEDICAL TECHNOLOGIES, INC. 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 PALOMAR MEDICAL TECHNOLOGIES, INC. manufactures, markets and sells a range of 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. ) cleared laser based products for the dermatology/cosmetology market. PALOMAR MEDICAL TECHNOLOGIES, INC. is engaged in the development, production, marketing and sales of laser based minimally invasive medical devices, which are currently undergoing clinical testing for cardiovascular and dermatological applications. CONTACT: PALOMAR MEDICAL TECHNOLOGIES, INC. MICHAEL SMOTRICH, COO, 508/921-9300 JOSEPH CARUSO, CFO See Chief Financial Officer. , 508/921-9300 or SPECTRUM MEDICAL TECHNOLOGIES, INC. SANFORD LANE, 508/650-4640 or LEONARDO ZANGANI, PR (908) 788-9660 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion