Microline Surgical, Inc. Marks 25 Years of Laparoscopic Surgery Advancements
BEVERLY, Mass.--(BUSINESS WIRE)--Aug 15, 2012--For 25 years, Microline Surgical has advanced the field of minimally invasive surgery by delivering precision surgical instruments that enable surgeons across the globe to perform highly complex procedures with fewer complications and better patient outcomes and at a lower cost compared with open surgical techniques. Today, Microline marks its 25th anniversary with nearly $50 million in revenue, sales offices in Amsterdam, Paris, Tokyo and Hong Kong, and customers in 65 countries.
Microline Surgical designs, develops, manufactures, and markets advanced laparoscopic instruments used across a broad range of surgical disciplines, including General, Gynecologic, Bariatric, Head and Neck, Urologic, and Cardiac surgery procedures. The company holds approximately 70 patents, employs over 200 collaborators and occupies a 50,000 square foot facility at its worldwide headquarters located in Beverly, Mass. Microline’s products are distributed worldwide through a network of over 70 independent distributors in North and South America, Europe, the Middle East and Asia. Over the past 17 years, Microline has achieved an impressive 25 percent compound annual growth rate (CAGR) in revenues, which Microline Chairman and CEO Dr. Jean-Luc Boulnois attributes to its entrepreneurial spirit and dedication to advancing surgical care.
“Our employees are united in a common goal to advance excellence in laparoscopic surgery and optimize patient care,” said Boulnois. “We keep a close finger on the pulse of the healthcare marketplace, listening carefully to our customers in order to keep pace with how surgical techniques are evolving so that we can deliver timely and relevant technology to meet their changing needs. As a result, our company is growing and profitable, even in this challenging economy. We are constantly looking for new growth opportunities to expand our offerings and broadened our reach into the surgical marketplace.” Microline was founded in 1987 by two French-American engineers, Hugues DeLaforcade and Henri DeGuillebon, with the goal of developing and marketing a line of intra-ocular microsurgical instruments for vitreo-retinal surgery. Backed by $216,000 that they managed to raise from five friends and working above a shoe shop in Danvers, Mass., DeLaforcade and DeGuillebon developed and patented the world’s first reposable surgical instrument, a micro-scissor featuring a reusable handle and disposable tips for use in cataract surgery.
In the early 1990s, Microline applied its reposable technology to the emerging field of laparoscopic surgery. In 1994, the company launched its ReNew™ line of laparoscopic scissors featuring reusable handles and disposable cutting tips, enabling surgeons to achieve exceptional patient outcomes at a considerable cost advantage. The receptiveness of the healthcare marketplace to this new platform led to Microline focusing its resources on minimally invasive surgery in the years ahead.
Microline Surgical has achieved a number of significant milestones over the past 25 years, fueling its success. These include: 1993: Microline enters the field of laparoscopic surgery with the world’s first reposable scissors 2004: Microline is acquired by Pentax, changing its name to Microline-Pentax 2007: Pentax is acquired by HOYA Corporation of Tokyo, making Microline a wholly owned subsidiary of HOYA 2009: Microline acquires Starion Instruments, marking the company’s foray into Cardiology and Otolaryngology (ENT), and changes its name to Microline Surgical 2011: Microline launches its MiFusion™ product line, including MiSeal™, the world’s first reposable device that simultaneously seals and divides soft tissue and vessels using direct thermal energy 2012: Microline generates nearly $50 million in revenue, delivering advanced laparoscopic instruments to customers in 65 countries, while performing the vast majority of its manufacturing in the United States “We continue to be focused on building upon our existing infrastructure to support our rapid growth,” said Microline President and COO Sharad Joshi. “From a technology perspective, we are examining new endo-mechanical and energy products which will allow surgeons to expand minimally invasive surgery into complex procedures at a lower cost. It is an exciting time in the healthcare industry and we look forward to what the next 25 years has to hold for both Microline and the customers that it serves.” About Microline Surgical Headquartered in Beverly, Massachusetts, Microline Surgical, Inc. is a leading U.S. medical device manufacturer of high-quality reposable surgical laparoscopic instruments. Founded in 1987, Microline is a wholly owned subsidiary of HOYA Corporation (7741:TSE) in Tokyo, Japan, a $4.5 billion company with approximately half of its revenues from medical business including endoscopy and eye care. Microline’s integrated modular laparoscopic instrumentation system consists of a selection of reusable handpieces that utilize a broad assortment of disposable tips. This concept allows for surgical efficiency and cost effectiveness to be preserved at all times. The company’s patented product portfolio comprises cutting, dissecting, grasping, cauterizing and ligating instruments used in all laparoscopic surgical procedures. For more information, visit www.microlinesurgical.com.CONTACT: For Microline Surgical Kara Della Vecchia, 508-314-3127 email@example.com KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS INDUSTRY KEYWORD: SURGERY HEALTH HOSPITALS GENERAL HEALTH SOURCE: Microline Surgical Copyright Business Wire 2012 PUB: 08/15/2012 08:00 AM/DISC: 08/15/2012 08:00 AM http://www.businesswire.com/news/home/20120815005536/