SafeStitch Medical®, Inc. Agrees with Herniamesh® Srl to Distribute Mesh
MIAMI--(BUSINESS WIRE)--Jul 30, 2012--SafeStitch Medical®, Inc. (OTCBB: SFES), today announced they have entered in a distribution agreement with Herniamesh ®, S.r.l., an Italian mesh manufacturer operating in the biomedical market, to distribute mesh used for inguinal and ventral hernia repair in the United States. This adds another product line for SafeStitch Medical, Inc. and compliments the currently available AMID™ Hernia Fixation Device, a device that allows for mesh manipulation, mesh fixation and skin closure.
SafeStitch Medical will be distributing a light weight monofilament polypropylene mesh that is knitted with quadriaxial technology, a patent-pending process invented and developed by Herniamesh called Hermesh 8. This technology allows for the same tensile strength and elongation in all directions with its light and porous characteristics.
“We are thrilled to be working with Herniamesh. This agreement allows us to expand our product line, offering physicians more tools in the operating room while providing growth for the company. Herniamesh’s specialization in the design and production of surgical mesh in polypropylene based on new technologies and specific surgical techniques was attractive ,” said Jeffrey Spragens, CEO and President of SafeStitch Medical.
Herniamesh produces and distributes medical devices for inguinal and abdominal hernioplasty, incontinence, wound care and pressure ulcers. Located in Chivasso (Turin), Italy, Herniamesh was founded in 1995.
“SafeStitch Medical’s AMID HFD is an innovative device. Considering that Herniamesh has innovation and internationalization as the main topics of its strategy, it is an opportunity and a pleasure to collaborate with SafeStitch Medical. We believe the agreement signed by SafeStitch and Herniamesh will be able to spread worldwide sales of the AMID HFD device and Herniamesh surgical meshes,” says Dott. Domenico Martorana, General Director of Herniamesh. “We believe the talented individuals of Herniamesh and SafeStitch will be able to make this agreement a benchmark for the reciprocal success of both companies and in expectation of achieving long term results.” The AMID Hernia Fixation Device was created to offer an innovative alternative to manual suturing for inguinal and ventral hernia repair using the Lichtenstein method. The design fixates mesh by delivering staples in a parallel plane to the femoral vessels, which may help avoid vascular injury. The AMID Hernia Fixation Device and Hermesh 8 are sold throughout the United States.
About SafeStitch Medical, Inc.
Miami, Florida-based SafeStitch Medical, Inc. is a publicly traded medical device company founded by Charles J. Filipi M.D. and Jeffrey G. Spragens, initially with licensed technology from Creighton University, in 2005, to develop a prototype for a minimally invasive obesity procedure. In 2006, Phillip Frost M.D., Chairman and CEO of OPKO Health, Inc. and Jane Hsiao Ph.D., Vice-Chairman and Chief Technical Officer of OPKO Health, Inc. became partners in SafeStitch Medical, Inc. and expanded SafeStitch’s mission to develop and market the best in class disposable medical devices to advance minimally invasive surgery for hernia repair, treatment of obesity and other gastroesophageal disorders. Information about the Company may be found on its website at: www.safestitch.com.
This press release contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipate," "believes," "should," "intends," "estimates," and other words of similar meaning, including statements regarding our product development and commercialization efforts, and our ability to significantly improve clinical outcomes in patients, as well as other non-historical statements about our expectations, beliefs or intentions regarding our business, technologies and products, financial condition, strategies or prospects. Many factors, including those described herein and in our filings with the Securities and Exchange Commission, could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These factors include: whether the AMID Hernia Fixation Device may help avoid vascular injury; whether the agreement will provide growth for SafeStitch; whether the agreement will be able to spread worldwide sales of the AMID HFD device and Herniamesh surgical meshes; whether SafeStitch and Herniamesh professionals will be able to make the agreement a benchmark for reciprocal success of both companies. The forward-looking statements contained in this press release speak only as of the date the statements were made, and we do not undertake any obligation to update forward-looking statements, except as required under applicable law. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.CONTACT: SafeStitch Medical®, Inc.
Serina Lutz, 305-575-4609 firstname.lastname@example.org KEYWORD: UNITED STATES NORTH AMERICA FLORIDA INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES SOURCE: SafeStitch Medical®, Inc. Copyright Business Wire 2012 PUB: 07/30/2012 04:05 PM/DISC: 07/30/2012 04:05 PM http://www.businesswire.com/news/home/20120730006186/