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OSTEOTECH ANNOUNCES BROAD EUROPEAN AND U.S. VENTURE WITH APS-MATERIALS TO EXPAND ORTHOPAEDIC AND DENTAL COATING SERVICES

 SHREWSBURY, N.J., June 24 /PRNewswire/ -- Osteotech, Inc. (NASDAQ: OSTE) announced today that it has entered into a letter of intent with APS-Materials, Inc. (APS), a privately held company located in Dayton, Ohio, to form a joint venture in Europe to market and provide titanium and composite titanium-hydroxylapatite plasma spray coating services for orthopaedic and dental prosthesis implant markets in Europe. Additionally, the company will license its hydroxylapatite (HA) plasma spray coating technology to APS in the United States. In addition to the titanium plasma spray coating services it provides to customers in the United States, APS will expand its HA and composite titanium-HA plasma spray coating services in the United States. HA and titanium coatings are applied to facilitate attachment of bone to the prosthesis.
 The letter of intent provides that Osteotech will receive 50 percent of the profits from the European joint venture and will receive a royalty on all revenues generated in the United States by APS utilizing the company's spray coating technology. In addition, Osteotech, through its CAM Implants BV subsidiary, will be the exclusive supplier of calcium phosphate powder for the spray coating operations of APS in the United States and for the joint venture in Europe.
 Patrick McBrayer, president and chief executive officer of Osteotech stated that, "In the current environment of cost containment in medical services, this joint venture with APS effectively expands our prosthetic coating services on a cost effective basis. The joint venture will be housed in our facility in the Netherlands and will absorb certain of the company's facility and related personnel costs," he said. Further, he stated that, "as a result of the license arrangement in the United States, the company will be able to combine its Denver facility with APS' facility in Ohio, thus significantly reducing the company's United States spray coating operation costs."
 Douglas Harris, president of APS, said "APS is very pleased with arrangement with Osteotech since it will allow APS to expand our titanium spray coating services in Europe. Another great strength of the joint venture will be the collaboration with CAM Implants, BV, a pioneer in the field of ceramic coatings. Together we are well positioned for continued innovation in this technology."
 APS provides high quality titanium and HA spray coatings to the biomedical industry. In addition, APS services the aerospace, automotive, electronic, chemical and mechanical industries in the United States.
 Osteotech, Inc., headquartered in Shrewsbury, is a leading processor of human bone and bone connective tissue for transplantation and an innovator in the development and marketing of biologic, biomaterial and implant products for musculoskeletal surgery.
 -0- 6/24/93
 /CONTACT: Michael J. Jeffries of Osteotech, 908-542-2800/
 (OSTE)


CO: Osteotech Inc. ST: New Jersey IN: HEA SU: JVT

WB -- NYTH007 -- 5147 06/24/93 08:02 EDT
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Publication:PR Newswire
Date:Jun 24, 1993
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