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 the Company has renewed its exclusive agreement with Dalian Orientech Co., Ltd (Orientech) for the sale and distribution of BSD’s hyperthermia systems in China. Orientech is a leading hyperthermia company and one of the pioneers in commercialization of hyperthermia equipment in China. Orientech is also a leader and key contributor in hyperthermia education and has sponsored over 170 hyperthermia-related studies. Orientech has established strong relationships with physicians throughout the country. As part of the agreement, Orientech is required to purchase a minimum number of BSD-2000 Hyperthermia Systems from BSD each year. Orientech has purchased a significant number of BSD-2000 Hyperthermia Systems from BSD since signing the original exclusive agreement in 2004.
“We are pleased to renew our business relationship with a leading hyperthermia product distributor in China,” stated Harold R. Wolcott, President of BSD Medical. “China represents a large opportunity for BSD’s products, and Orientech is strongly committed to significantly increasing the number of BSD-2000 systems installed in China. BSD is committed to establishing strong partnerships in the Asia Pacific countries that will result in increased product sales to this large market.”
China has the world’s largest population and ranks as one of the fastest-growing markets in the world. In 2009, the Chinese government committed 850 billion yuan (US$124 billion) to develop the country’s healthcare system. The plan is to provide universal healthcare access for all citizens by 2020. China has over 10,000 hospitals with oncology departments.
About the BSD-2000 Hyperthermia System
The BSD-2000 Hyperthermia System – developed and patented exclusively by BSD – delivers localized therapeutic heating (hyperthermia) by applying radiofrequency (RF) energy. The BSD-2000 creates a central focusing of energy that can be electronically focused to target the shape, size, and location of the tumor, thus providing dynamic control of the heating delivered to the tumor region. The BSD-2000 has received Humanitarian Device Exemption (HDE) marketing approval from the U.S. Food and Drug Administration for use in conjunction with radiation therapy for the treatment of cervical cancer patients who are ineligible for chemotherapy.
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.
Statements contained in this press release that are not historical facts are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date on which such statements are made, and the Company undertakes no obligation to update such statements to reflect events or circumstances arising after such date.