SALT LAKE CITY--(BUSINESS WIRE)--BSD Medical Corporation (NASDAQ:BSDM) (Company or BSD) (www.BSDMedical.com), a leading provider of medical systems that utilize heat therapy to treat cancer, announced today that BSD's exclusive distributor in Egypt, Misr Sinai, has obtained marketing and import license approval for the MicroThermX® Microwave Ablation System (MicroThermX) from the Egyptian Ministry of Health. Misr Sinai has purchased MicroThermX systems and antennas, and BSD recently shipped the initial order to Misr Sinai.
Misr Sinai is a leading, medical, specialty distributor in Egypt with 130 employees, and revenues in excess of 18 million dollars. Their offices are located in Cairo, Delta, and Alexandria. Misr Sinai represents a number of major medical device companies and sells strategically adjacent products to the same clinicians targeted for the MicroThermX.
BSD personnel provided intensive training of Misr Sinai sales personnel at the 2014 European Conference on Interventional Oncology (ECIO) in preparation for the commercial launch in Egypt by Misr Sinai.
“We are excited to have the opportunity to start selling the MicroThermX in Egypt,” stated Sam Maravich, VP of International Sales and Marketing for BSD. “We have worked closely with Misr Sinai on the marketing approval process so that we could capitalize on the market for the MicroThermX in Egypt.”
About BSD Medical Corporation
BSD Medical Corporation develops, manufactures, markets and services systems to treat cancer and benign diseases using heat therapy, which is delivered using focused radiofrequency (RF) and microwave energy. BSD’s product lines include both hyperthermia and ablation treatment systems. BSD’s hyperthermia cancer treatment systems, which have been in use for several years in the United States, Europe and Asia, are used to treat certain tumors with heat (hyperthermia) while increasing the effectiveness of other therapies such as radiation therapy. BSD’s microwave ablation system has been developed as a stand-alone therapy to employ precision-guided microwave energy to ablate (destroy) soft tissue. The Company has developed extensive intellectual property, multiple products in the market and established distribution in the United States, Europe and Asia. Certain of the Company’s products have received regulatory approvals and clearances in the United States, Europe and China. For further information visit BSD Medical's website at www.BSDMedical.com.
The press release contains forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to the Company’s expectations that its Taiwan distributor will receive necessary regulatory approvals in Taiwan, the Company’s plans to sell its products in Taiwan and the Company’s relationship with Linden Bioscience, Ltd., and other matters. Readers are cautioned that these forward-looking statements are only expectations and predictions and may differ materially from actual future events or results due to a variety of risks and uncertainties, including, among other things, the risk that necessary government approvals to sell the Company’s products in Taiwan will not be obtained, demand for the Company’s products in Taiwan may not materialize, the Company may not be able to produce products to meet the demand, global economic conditions and uncertainties in the geopolitical environment and other risk factors set forth in the Company’s most recent reports on Form 10-K and Form 10-Q filed with the SEC. Any forward-looking statements in this release are based on limited information currently available to the Company, which is subject to change, and the Company undertakes no obligation to update the forward-looking statements contained in this release, except as required by law.
