Hologic, Inc. (NASDAQ: HOLX), today announced completion of an agreement between its Lorad division and Ethicon Endo-Surgery for non-exclusive distribution rights in the United States to Ethicon's minimally invasive breast biopsy device, the Mammotome ST. Under the terms of the agreement, Hologic may offer the Mammotome ST for purchase with Lorad's MultiCare™ and StereoLoc® II stereotactic breast biopsy systems. Lorad is a leading provider of state-of-the-art mammography and breast biopsy systems.
According to Jack W. Cumming, CEO and President of Hologic, "We are pleased to enter into this agreement with Ethicon Endo-Surgery. The Mammotome ST is fully compatible with Lorad's breast biopsy systems, the MultiCare and StereoLoc II, which use advanced digital imaging to pinpoint the precise location of areas for biopsy, ensuring the accuracy and efficiency of the procedure. We believe the capability to offer highly accurate breast biopsies with both our upright and prone stereotactic breast biopsy systems can be significantly enhanced through the use of this device."
The Mammotome ST is a reliable diagnostic alternative to open surgical biopsy and can obtain multiple tissue samples through a single, small incision in the skin, under local anesthesia. Open surgical biopsy removes a larger section of tissue through a 1 - 3 inch incision, often under general anesthesia.
Commenting on the agreement, Pete Kershaw, Vice President & General Manager of Lorad said, "In fulfilling Lorad's commitment to the improvement of women's health, we continuously seek adjunctive technologies to enhance our existing product offerings. Use of the Mammotome ST with our breast biopsy systems provides practitioners a safe, innovative alternative to open surgical biopsy. We believe the agreement with Ethicon Endo-Surgery will be mutually beneficial and we are pleased to have the opportunity to offer our customers this complementary technology."
Hologic, Inc. is dedicated to developing and delivering proprietary X-ray systems that incorporate direct-to-digital radiographic imaging technology for both women's health and general radiographic applications. Hologic's business divisions include Hologic Osteoporosis Assessment, a provider of premier bone densitometry systems, Hologic Radiographic Systems, encompassing general and digital radiography systems, and the wholly-owned subsidiaries: Direct Radiography Corp., a manufacturer of state-of-the-art proprietary flat panel technology called DirectRay®; Fluoroscan Imaging, a manufacturer of low intensity, real time X-ray imaging devices; and Lorad, specializing in innovative mammography and minimally invasive breast biopsy systems.
Forward Looking Disclaimer
This News Release contains forward-looking information that involves risks and uncertainties, including statements about Hologic/Lorad's and Ethicon's plans, objectives, expectations and intentions. Such statements include, without limitation, statements regarding the anticipated benefits from Hologic's alliance with Ethicon Endo-Surgery, and the compatibility of the Mammotome ST and Lorad's MultiCare and StereoLoc II breast biopsy systems. These forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated. Factors that could cause actual results to materially differ include, without limitation, Hologic's and Ethicon Endo-Surgery's limited experience in working together; Hologic's continuing losses and ability to fund those losses as well as other working capital requirements; Hologic's ability to predict accurately the demand for its products and to develop strategies to address its markets successfully; uncertainties inherent in the development of new products and the enhancement of existing products, including technical and regulatory risks, cost overruns and delays; the early stage of market development for digital X-ray products; risks relating to the Company's reliance on a single source of supply for some key components of its products; risks related to ongoing litigation; technical innovations that could render products marketed or under development by Hologic obsolete; competition; and reimbursement policies for the use of Hologic's products. Other factors that could adversely affect Hologic's business and prospects are described in Hologic's filings with the Securities and Exchange Commission. Hologic expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based.
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SOURCE: Hologic, Inc.
Contact: Glenn P. Muir, Executive Vice President and CFO, or Marianne E. Ritchie, Manager, Investor Relations, of Hologic, Inc., +1-781-999-7300
Web site: http://www.hologic.com/