Printer Friendly

Hydromer, Inc. Announces Sales Increase in OEM Bipolar Coagulation Probe Device Business.

Business Editors

BRANCHBURG, N.J.--(BUSINESS WIRE)--March 29, 2000

Hydromer, Inc. (OTC BB: HYDI) reported today that its OEM device business in its newly acquired Biosearch Medical Products, Inc. (BMPI) subsidiary has increased, specifically with its Hydromer(R) Coated bipolar coagulation probe.

The probe is sold primarily through several companies under their own label, with a smaller portion of business on a BMPI label basis through BMPI distributors in Europe, and direct to some hospitals in the US. Based on orders recently received, Biosearch has shipped, or has orders for shipment from July 1, 1999 through the end of Hydromer's fiscal ending 6/30/00, of approximately $722,000 worth of probes versus approximately $412,000 in probe shipments for all of last fiscal year, a +75% improvement in Hydromer's fiscal 2000 period versus the same period last year. Shipments and orders to ship in the period from the acquisition in February, 2000 through June 30, 2000 are worth approximately $486,000. Although the clients have the right to cancel these orders before delivery, it is the Company's opinion that the clients will take delivery as ordered.

The bipolar probe is one of several devices Hydromer acquired as part of Biosearch in February. Developed by Martin Dyck, Vice President of Operations at Hydromer, and President of the BMPI subsidiary, it was approved for sale by the FDA in 1991. "It is unique in the use of Hydromer coating on the probe tip which inhibits sticking and tissue build up during endoscopic procedures. This greatly improves the performance of the device, since probes that stick to recently cauterized sites will cause rebleeding and require repeated cauterization, which is virtually not a factor with the Hydromer probe," said Mr. Dyck.

"Since the acquisition of BMPI earlier this year, we have seen growth in OEM sales of Hydromer-coated products as our OEM customers are regaining confidence in the ability of the BMP subsidiary of our newly expanded company to be a viable long term supplier of their OEM and contract manufacturing needs. We have also made it very clear to our strategic customer base that our interest is in seeing the Biosearch 510K approved/CE marked device portfolio exploited on an OEM basis rather than direct sales," said Joseph Ehrhard, Vice President of New Business and R&D. "The combination of Hydromer's financial, marketing and technical strength, coupled with Biosearch's OEM product portfolio, which also includes bilary stents, enteroclysis catheters, jejunal feeding catheters, coated guidewires and biofeedback probes for incontinence, ISO 9001 Certified/FDA Registered manufacturing facilities, and experience in manufacturing and coating devices for our OEM customers, is a strong selling point."

"The synergy and strength of the combined operations of Hydromer and Biosearch is now giving us the opportunity to move further toward our goal of being the leading provider of hydrophilic surface modifications to the medical device industry. These wider services and product offerings allow Hydromer to compete more effectively with our primary competitors like Surmodics (Nasdaq: SRDX) and STS," said Manfred Dyck, President and CEO of Hydromer.

Hydromer, Inc. is a technology-based company involved in the research and development and manufacture of specialized polymer and hydrogel products for medical device, pharmaceutical, animal health, cosmetic, personal care, and industrial uses. Please visit our web site at http://www.hydromer.com .

Note: Certain statements herein that are not historical are forward looking statements and involve risk and uncertainties. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. Investors who seek more information about the company's business and relative risk factors may wish to review the Company's periodic reports filed with the SEC including, but not limited to, its most recent Annual Report on Form 10-K/SB and Quarterly Report on Form 10-QSB.
COPYRIGHT 2000 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:Mar 29, 2000
Words:640
Previous Article:Fitch IBCA Downgrades Goddard Memorial Hosp, MA To `BB+'.
Next Article:Consolidated Silver Tusk Mines Ltd. Issues Announcement.
Topics:


Related Articles
X marks the spot.
Pushing the Mood Swings.
APC and electrosurgical technology.
Nonstick electrosurgical forceps. (Product Marketplace).
Bipolar electrosurgical forceps. (Product Marketplace).
Monopolar intranasal suction coagulator. (Product Marketplace).
Monopolar Intranasal Suction Coagulator. (Product Marketplace).
Bipolar electrosurgical forceps. (Product Marketplace).
Bipolar electrosurgical forceps. (Product Marketplace).
Forceps and scissors.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters