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February 3, 1998
GENERAL SURGICAL INNOVATIONS SIGNS INTERNATIONAL DISTRIBUTION
AGREEMENTS FOR CARDIOVASCULAR PRODUCTS
Cupertino, CA, February 3, 1998 General Surgical Innovations,
Inc. (GSI) (Nasdaq: GSII) announced today that its Cardiovascular Group signed exclusive
agreements with seven international distributors, granting them
rights to distribute GSI’s cardiovascular products in Belgium,
England, Germany, Holland, Ireland, Northern Ireland, Italy, Portugal,
Scotland, Spain, and Wales.
The agreements cover distribution of GSI’s entire portfolio of
cardiovascular products, including the ENDOSAPH™ Vein Harvest System for the minimally invasive harvesting of
the saphenous vein, the surgical balloon dissector for subfascial
endoscopic perforator surgery (SEPS); and the SAPHtrak™ surgical
balloon dissector for minimally invasive access to the saphenous
vein. The ENDOSAPH Vein Harvest System includes the SAPHfinder™ surgical balloon
dissector, which allows visualization for precise tracking of
the saphenous vein, the SPACEKEEPER™ retractor, which provides
improved exposure to the saphenous vein and a significant working
space for instrument manipulation. GSI’s Hook and Fork dissectors
are reusable instruments also used during minimally invasive saphenous
vein harvesting which the company believes contribute to making
these procedures more cost effective for the payer.
“These agreements significantly expand our international distribution
network, greatly enhancing our ability to penetrate the cardiovascular
surgery market in Europe by aligning our cardiovascular products
with those countries’ leading distributors,” stated Gregory D.
Casciaro, President and Chief Operating Officer of GSI. “We believe
the number of cardiovascular procedures performed annually in
Europe represents a key opportunity for our SPACEMAKER® balloon dissection technology, and we will continue to focus
on further growing our distribution network in the international
markets.”
“As we expand our market presence, we bring the benefits of our
technology – which include reduced trauma, complications, and
recovery time – to a larger patient population. Combined, these
benefits accrue to the entire healthcare enterprise, encompassing
the patient, surgeon and payer,” concluded Mr. Casciaro.
GSI’s cardiovascular products are sold in the U.S. through a direct
sales force and in Japan through an exclusive distribution agreement
with Japan Lifeline.
GSI’s patented SPACEMAKER® tissue dissection systems, based on the company’s patented balloon
technology, more rapidly and gently create surgical working spaces
by separating natural tissue planes without resorting to blunt
dissection used in conventional open surgery or minimally invasive
surgery conducted outside of a natural body cavity. In procedures
using SPACEMAKER® dissectors, a surgeon creates a small incision through which
the balloon is inserted and placed between naturally occurring
tissue layers such as muscle, fat and skin. Subsequently, the
balloon is filled to a specific volume with air or saline, causing
the desired dissection of the tissue planes. The balloon is then
removed and the dissected space can be insufflated to open the
surgical operating space created by the use of the SPACEMAKER® system.
Headquartered in Cupertino, California, General Surgical Innovations,
Inc. develops, manufactures and sells tissue dissection systems
based on the company’s patented balloon technology for minimally
invasive surgical procedures. The company’s products are specifically
designed for endoscopic and laparoscopic techniques for use in
general, vascular, thoracoscopic, orthopedic, cosmetic and reconstructive
surgeries to create an operating space at the surgical site, which
the company believes lessens tissue damage and improves patient
recovery time. The company has developed a broad range of balloon
shapes and sizes to be used for various surgical techniques, procedures
and market segments. GSI distributes its products worldwide through
a network of distribution partners and a direct sales force.
For additional information, please visit the company’s World
Wide Web site at www.gsii.com.
Except for the historical information contained herein, the matters
discussed in this press release are forward-looking statements,
the accuracy of which is necessarily subject to risks and uncertainties.
Future market development and demand for the company’s products,
among other matters discussed in this release, may differ significantly
from the discussion of such matters in the forward-looking statements.
Such differences may be based upon factors within General Surgical
Innovations’ control, such as strategic planning decisions by
management and reallocation of internal resources, or on factors
outside of General Surgical Innovations’ control, such as scientific
advances by third parties, introduction of competitive products
and delays by regulatory authorities, as well as those factors
set forth under the heading “Factors Affecting Future Results”
in General Surgical Innovations’ Annual Report on Form 10K for
the year ended June 30, 1997, Form 10Q for the quarter ended September
30, 1997 and other company filings with the Securities and Exchange
Commission.
For more information on General Surgical Innovations. via fax
at no cost,
dial 800-PRO-INFO (908-544-2850 outside the U.S.), ticker symbol:
GSII.
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