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), partnering with Health Line International Corporation (Health Line), launched the Synergy™ peripherally inserted central catheter (PICC) product line. The product line features Galt’s industry-leading introducer components and Health Line’s Synergy™ PICC line. The Synergy™ expands Galt Medical’s product offering to include implantable delivery devices.
Synergy™ is a power injectable PICC available in sizes from 4-6 French, and in single, dual, and triple lumen configurations. PICC’s are used in treatments requiring vascular access, such as drug therapies, renal therapies, and blood sampling. They are capable of injecting contrast media needed for computed tomography (CT) scans, which eliminates the need for the insertion of a second venous access device. Galt has partnered with Health Line to co-brand and market the Synergy™ PICC in the United States using Galt’s distribution network. The addressable market in the United States for PICC’s is projected to grow at a compound annual growth of 5% and reach $300 million in annual sales by 20151. The Synergy is expected to add approximately $150,000 of revenue for Theragenics within the first twelve months of launch.
“The launch of the Synergy PICC line is Theragenics’ first co-branded product offering in our surgical products business segment,” said M. Christine Jacobs, Chairman and Chief Executive Officer of Theragenics Corporation. “This product line shows our ability to partner with other high quality component manufacturers to offer a wide variety of procedure kits. These arrangements will allow us to develop and launch new products faster and more frequently to further expand our product offerings and enter new markets.”
Galt Medical, along with NeedleTech Products and CP Medical, comprise Theragenics’ surgical products business segment.
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, 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, its iodine-125 AgX100™ device and related services. 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.
Health Line International Corporation is a privately held premier medical spec developer, manufacturer and distributor. Health Line produces a comprehensive line of products for vascular access, infusion therapy, and infection control. Health Line’s focus is on patient safety and satisfaction, custom product design, innovative technology, and service for the medical device industry. Health Line is based in Centerville, Utah, with manufacturing and distribution globally. Please visit www.hlic.net for additional information.
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 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 Synergy™ PICC product line, 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.
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