Medovex Corporation Signs Manufacturing Agreement for DenerveX Device
ATLANTA, GA -- (Marketwired) -- 02/12/15 -- Medovex Corporation. (NASDAQ: MDVX), a developer of medical technology products, announced today that it has signed a manufacturing agreement with Nortech Systems for the DenerveX™ device.
The DenerveX device will be manufactured and assembled in Nortech Systems' Milaca, Minnesota plant. Nortech Systems serves the medical device, aerospace and industrial markets from facilities in the U.S. and Mexico where it provides a full range of manufacturing services for some of the largest medical device companies in the world as well as many early-stage companies in the medical technology space.
Jarrett Gorlin, CEO of Medoxex Corporation stated, "Nortech Systems strong reputation and capabilities in the medical device field makes them an excellent partner for the manufacturing of the DenerveX device. We firmly believe this relationship will ensure that the DenerveX device provides a reliable and effective tool for the treatment of Facet Joint Pain."
"We have been impressed with the Medovex management team and DenerveX device technology," said Rich Wasielewski, President and CEO of Nortech Systems. "We are very excited about partnering in a successful product launch targeting the significant market opportunity for Facet Joint Pain."
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 designed to provide long lasting relief from pain associated with facet joint syndrome at significantly less cost than currently available options. DenerveX is a trade mark of Medovex Corporation. To learn more about Medovex Corp., visit www.medovex.com
Nortech Systems Incorporated, based in Wayzata, Minn., is a full-service electronics manufacturing services (EMS) provider of wire and cable assemblies, printed circuit board assemblies, and higher-level complete box build assemblies for a wide range of industries. Markets served include medical, industrial equipment, and aerospace/defense. Our expertise includes Medical Device, Industrial Equipment, Military/Aerospace, Machine Vision, and EMS Contract Manufacturing and Wire & Cable Assembly Solutions Nortech Systems has a wide range of specialized, high-tech facilities used for the customized design, manufacture, testing and repair of its contract manufacturing solutions and cable assembly operations. www.nortechsys.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.
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Source: Medovex Corporation
Released February 12, 2015