Medovex Corporation Signs Design and Manufacturing Agreement for DenerveX(TM) Pro-40 Power Generator
ATLANTA, GA -- (Marketwired) -- 02/23/15 -- Medovex Corporation (NASDAQ: MDVX), a developer of medical technology products, announced today that it has 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.
"Bovie is a highly respected leader in this field," said Jarrett Gorlin, Chief Executive Officer of Medovex Corporation. "This relationship ensures that the power source to the DenerveX device, focused on treatment of patients with Facet Joint Pain, will be safely and effectively matched with the device itself." The DenerveX Power generator, Pro-40 will be specifically designed and manufactured as a dedicated power generator for the DenerveX device and "powered by Bovie."
According to Patrick Kullmann, President and COO, 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 DenerveX system consists of the DenerveX Pro-40 generator and the DenerveX device. The combined result in an exclusively matched system that will serve our customers and their patients well in the areas of quality of therapy delivery and safety. The DenerveX Pro-40 will provide both radiofrequency and motor power to the DenerveX device for the treatment of Facet Joint Syndrome, a very common and problematic source of back pain.
"We are pleased to be working with Medovex to design and manufacture a customized generator for their DenerveX device under an OEM agreement," said Robert L. Gershon, Chief Executive Officer. "Bovie has built a reputation as a maker of branded electrosurgical generators, and we leverage this expertise to produce equipment for large, well known medical device manufacturers. We look forward to a mutually rewarding relationship with the Medovex team."
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 February 23, 2015