BIOPLASTY WITHDRAWS BREAST IMPLANTS OVERSEAS
BIOPLASTY WITHDRAWS BREAST IMPLANTS OVERSEAS ST. PAUL, Minn., April 1 /PRNewswire/ -- Bioplasty, Inc.
(NASDAQ-NMS: BIOP), announced today that it has withdrawn from its foreign markets all MISTI(R) silicone gel-filled mammary prostheses and MISTI GOLD(TM) mammary prostheses. The removal is a result of the company's decision to leave the silicone gel-filled breast implant business and regulatory agency concerns about the company's breast implant supplier's manufacturing and record keeping practices.
Bioplasty, Inc. expects a charge to operations in its third fiscal quarter of approximately $750,000 representing the write-off of all breast implant product on hand, and an additional undetermined amount for future returns from customers. Future sales of MISTI GOLD implants will resume upon the company's receipt of an approved IDE submission and export authorizations from the FDA. Timothy Lawin, the company's president and CEO, stated, "We are committed to bringing the MISTI GOLD mammary prostheses to the United States and overseas market. We believe the MISTI GOLD prostheses with its alternative non-silicone filling gel provides an attractive new technology to both plastic surgeons and their patients considering breast reconstruction or augmentation." Bioplasty, Inc. has more than 20 years of experience in the development, manufacturing and marketing of plastic surgery products worldwide. Bioplasty's stock is currently traded on NASDAQ National Market System under the symbol BIOP. -0- 4/1/92 /CONTACT: Timothy P. Lawin or Donald A. Major, both of Bioplasty, 612-636-4112/ (BIOP) CO: Bioplasty, Inc. ST: Minnesota IN: MTC SU:
KH -- MN015 -- 4054 04/01/92 16:40 EST
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|Date:||Apr 1, 1992|
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