Medovex Corporation Places First Commercial Order for DenerveX(TM) Pro-40 Power Generator in Preparation for Anticipated European Launch
ATLANTA, GA -- (Marketwired) -- 03/07/16 -- Medovex Corporation (NASDAQ: MDVX), a developer of medical technology products, announced today that it has placed its first commercial order for the DenerveX™ Pro-40 Power Generator in preparation for its European launch anticipated later this year.
The Company previously signed a design and manufacturing agreement for its DenerveX Pro-40 Power Generator with Bovie Medical, a Florida based world leader in the radiofrequency technology area, highly respected leader in its field.
"We are pleased to have officially placed our first commercial order for the DenerveX Pro-40 Power Generator," said Jarrett Gorlin, Chief Executive Officer of Medovex Corporation. "The DenerveX Pro-40 generator will offer the optimal power source to the single use DenerveX device without relying on other less reliably matched power sources in the market today."
The Company's patented DenerveX System, currently in final development and not yet commercially available, is designed to provide longer lasting relief of pain associated with the facet joint. Lower back pain is the second most common cause of disability in the U.S. for adults. Studies indicate that 10% of the U.S. adult population suffers from lower back pain and that 31% of lower back pain is attributed to facet joint pain.
The DenerveX System consists of the DenerveX device, a single use device, and the DenerveX Pro-40 Power Generator. The DenerveX system is designed to provide a minimally invasive treatment option which combines two actions into one device.
DenerveX is not yet CE marked or FDA cleared and is not yet commercially available.
Medovex was formed to acquire and develop a diversified portfolio of potentially ground breaking medical technology products. Criteria for selection include those products with potential for significant improvement in the quality of patient care combined with cost effectiveness. The Company's first pipeline product, the DenerveX device, is intended to provide long lasting relief from pain associated with facet joint syndrome at significantly less cost than currently available options. To learn more about Medovex Corp., visit www.medovex.com
Safe Harbor Statement:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Source: Medovex Corporation
Released March 7, 2016