Theragenics Signs Brachytherapy Supply and Reseller Agreement with UK-Based Accelyon
Theragenics Signs Brachytherapy Supply and Reseller Agreement with UK-Based Accelyon
Agreement Covering the European Union, Australia and New Zealand Expected to Generate Annual Revenue of up to $1 Million in Second Year
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 Supply and Reseller agreement with Accelyon Limited. Under the three-year agreement, Theragenics will supply its AgX100® seeds to Accelyon who will provide for the loading and packaging of the seeds into prescription loaded needles, custom strands and other configurations. Accelyon will distribute the finished products in the European Union, Australia and New Zealand.
"This Agreement is our first major opportunity to penetrate Europe, Australia and New Zealand with our brachytherapy seed product," said M. Christine Jacobs, Chairman and Chief Executive Officer of Theragenics Corporation. "Accelyon is a new entrant into the brachytherapy marketplace with experienced talent. The company is managed by industry veterans possessing direct brachytherapy experience in all these markets. We have expected our AgX100® iodine seed to provide opportunities outside of the United States. Accelyon provides us this access in these important brachytherapy markets. They have international expertise and reach we do not possess. We are thrilled to begin a new brachytherapy relationship with Accelyon."
"Accelyon's people bring a wealth of experience in the European and Australasia brachytherapy marketplaces," said Saheed Rashid, Managing Director of Accelyon. "We understand what is important to customers and are committed to delivering the highest standards of quality and reliability. Theragenics is a high quality manufacturer and well-known brand throughout the brachytherapy world. They share Accelyon's commitment to this important treatment. We are excited to begin this new relationship with Theragenics."
About Theragenics
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, custom loads, 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.
About Accelyon
Accelyon Limited is a new company aiming to become one of the leading partners to hospitals and clinics worldwide in providing brachytherapy to treat prostate cancer. Accelyon understands that offering prostate cancer patients brachytherapy depends on physicians having access to high quality products delivered with expertise and reliability. Accelyon brings a new focus and unrivalled commitment to brachytherapy - and an established, world-class service.
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 Accelyon agreement. 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, the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act (including provisions such as the medical device tax that became effective 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.
Theragenics Corporation®
Frank Tarallo, CFO & Treasurer or Lisa Rassel, Manager of Investor Relations
800-998-8479 - 770-271-0233
www.theragenics.com
KEYWORDS: United Kingdom United States Europe North America Georgia
INDUSTRY KEYWORDS:
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