Theragenics Signs Brachytherapy Loading Services Agreement with Oncura, a unit of GE Healthcare
Worldwide Services Agreement Expected to Generate Annual Revenue of Over $1 million at Full Ramp Up
BUFORD, Ga.--(BUSINESS WIRE)-- Theragenics Corporation® (NYS: TGX) , a medical device company serving the surgical products and prostate cancer treatment markets, today announced it has signed a value-added loading services agreement with Oncura, a unit of GE Healthcare, to provide worldwide brachytherapy loading services to Oncura. Under the three-year agreement, Theragenics will load and package Oncura manufactured brachytherapy seeds in prescription loaded needles, custom strands and other configurations. Oncura's iodine-125 brachytherapy seeds are utilized primarily in the treatment of early stage prostate cancer. This agreement provides for loading services for most Oncura sales of prescription and custom loaded brachytherapy seeds worldwide, which currently includes North America, Europe, Australia and portions of Asia.
Theragenics has manufactured radioactive seeds used for the treatment of prostate cancer since 1988 and has performed prescription loading and custom stranding on its internally manufactured brachytherapy seeds since 2005. Theragenics' brachytherapy products, including needle loaded and custom stranded packaging, are registered in the United States, Canada and Europe. Theragenics is an ISO 13485 certified medical device manufacturer and provides 100% NIST traceable assay. In addition, Theragenics has been Oncura's exclusive palladium-103 brachytherapy seed supplier since December 2009, providing TheraSeed® for Oncura in prescription loaded and custom stranded configurations.
"This agreement is our first significant effort to provide value-added services for brachytherapy seed products manufactured by other suppliers," said M. Christine Jacobs, Chairman and Chief Executive Officer of Theragenics Corporation. "Our fully integrated, ISO certified brachytherapy manufacturing and servicing capabilities are unique in the industry and allow us to branch out in new ways to find growth. Oncura, an acknowledged leader in brachytherapy for years, has recognized our unique capabilities and has entrusted us with loading services for their customers located around the world. We are thrilled to be expanding our relationship in this manner with Oncura and GE Healthcare."
Ms. Jacobs continued, "Prostate cancer treatments generally suffered swift declines this year, and we believe over capacity in the brachytherapy industry will continue to become more severe. We believe this will provide additional opportunities for us to leverage our industry leading brachytherapy capabilities and continue to increase our market share. This loading services agreement with Oncura and GE Healthcare is yet another example of the opportunities we have in this sector."
Theragenics Corporation (NYS: TGX) operates two business segments: its surgical products business and its brachytherapy seed business. The surgical products business (www.cpmedical.com, www.galtmedical.com, www.needletech.com) manufactures and distributes wound closure, vascular access, and specialty needle products. Wound closure products include sutures, needles and other surgical products. Vascular access includes introducers, guidewires and related products. Specialty needles include coaxial, biopsy, spinal and disposable veress needles, access trocars, radiofrequency devices, implanters, introducer products, and other needle-based products. The surgical products segment serves a number of markets and applications, including, among other areas, interventional cardiology, interventional radiology, vascular surgery, orthopedics, plastic surgery, dental surgery, urology, veterinary medicine, pain management, endoscopy, and spinal surgery. Theragenics' brachytherapy business manufactures, markets and distributes "seeds" used primarily in the minimally invasive treatment of localized prostate cancer. The Company's brachytherapy product line (www.theragenicsbrachy.com) includes its palladium-103 TheraSeed® device and its iodine-125 AgX100™ device. The terms "Company," "we," "us," or "our" mean Theragenics Corporation and all entities included in our consolidated financial statements. For additional information, call our Investor Relations Department at (800) 998-8479 or visit www.theragenics.com.
This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the accuracy of which is necessarily subject to risks and uncertainties, including, without limitation, statements regarding expected annual revenue at full ramp up from the Oncura loading services agreement and future opportunities for growth in the brachytherapy industry.Actual results may differ materially due to a variety of factors, including, among other things, risks and uncertainties related to competition within the medical device industry, development and growth of new applications within the brachytherapy market and, more broadly, medical devices, competition from other companies within the brachytherapy market and medical device markets, competition from other methods of treatment, new product development cycles (pipeline), effectiveness and execution of marketing and sales programs, changes in product pricing, changes in costs of materials used in production processes, changes in the ordering patterns of our customers, continued acceptance of and demand for our products by the markets in which we operate, introduction and/or availability of competitive products by others, potential changes in third-party reimbursement, including Medicare reimbursement as administered by the Centers for Medicare and Medicaid Services (CMS), implementation of new legislation by CMS, physician training, third-party distribution agreements, ability to execute on acquisition opportunities on favorable terms and successfully integrate any acquisitions, potential changes in applicable tax rates, legislative changes to healthcare markets and industries such as the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act (including provisions such as the pending medical device tax scheduled to take effect on January 1, 2013), and other factors set forth from time to time in our filings with the Securities and Exchange Commission.
All forward looking statements and cautionary statements included in this document are made as of the date hereof based on information available to us as of the date hereof, and we assume no obligation to update any forward looking statement or cautionary statement.
Frank Tarallo, 800-998-8479 - 770-271-0233
CFO & Treasurer
Lisa Rassel, 800-998-8479 - 770-271-0233
Manager of Investor Relations
KEYWORDS: United States North America Georgia
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