New Product for Underserved Market Expected to Provide Opportunities for Entire Galt Product Line
BUFORD, Ga.--(BUSINESS WIRE)-- Theragenics Corporation® (NYSE: TGX), a medical device company serving the surgical products and prostate cancer treatment markets, today announced that Galt Medical (a wholly-owned subsidiary of Theragenics) launched its Microslide™ Pediatric Introducer line featuring tearaway sheath introducers, small diameter guidewires, and short needles in the first quarter of 2012. The Galt Microslide is expected to be utilized primarily for procedures involving smaller patients including infants, children and adolescents. The 2 and 3 French size Galt Microslide introducers and small accessories provide clinicians with the ability to introduce vascular access devices into smaller vessels.
“We are using the Galt Microslide on our pediatric patients, and even neonates. Because it is designed specifically for pediatric patients, we are able to successfully place the sheath,” said Judy McCarty, RN, Vascular Access Team, Children's Healthcare of Atlanta.
“The pediatric access market has been greatly underserved,” said M. Christine Jacobs, Chairman and Chief Executive Officer of Theragenics Corporation. “We have received overwhelming positive feedback from clinicians on the Galt Microslide product as it has met an important need in the market. We listened to our customers and they are rewarding us with small but growing sales. While the market for pediatric vascular access devices is small compared to other vascular access applications, when combined into kits, our opportunities will increase. Perhaps more importantly, potential customers are inviting us and our products into institutions where we historically have not had opportunities.”
Galt Medical is a wholly-owned subsidiary of Theragenics. The Galt business unit manufactures and distributes vascular access products, including introducers and guidewires used in interventional radiology, interventional cardiology and vascular surgery.
Theragenics Corporation (NYSE: 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, 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 includes its palladium-103 TheraSeed® device (www.theraseed.com), and its Iodine-125 seed devices, AgX100 and I-Seed. 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 revenue, profit margins, future growth, increased profitability and cash flow, and estimated market sizes. 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 medical device markets, new product development cycles, effectiveness and execution of marketing and sales programs, changes in product pricing, 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, 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 medical device tax), uncertainties associated with forecasting demand for a new product, the development and pricing of competing products by competitors, uncertainties and unanticipated costs in connection with the manufacturing and marketing of the Galt Pediatric Microslide, effectiveness in accessing new customers and new applications, 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
INDUSTRY KEYWORDS: Surgery Health Hospitals Medical Devices Oncology Baby/Maternity Children Consumer Medical Supplies