Enpath Medical Extends Long-Term Supply Agreement With Medtronic
April 05 2007 - 7:30AM
PR Newswire (US)
Enpath Named as Key Introducer Supplier in Contract Extension
through October 2012 MINNEAPOLIS, April 5 /PRNewswire-FirstCall/ --
Enpath Medical, Inc. (NASDAQ:NPTH), a leading developer and
manufacturer of introducers and other proprietary therapeutic
device delivery products, announced today that it has extended its
supply agreement for introducers with Medtronic Inc. for another
five years. The supply agreement relates to standard lead
introducer procedural kits, a key component of Enpath's revenue
stream. "This agreement extends our longstanding relationship with
Medtronic and underscores the benefits resulting from our
commitment to research and development as we continue to stay on
the forefront of technology with our proprietary products." said
Mr. John C. Hertig, Chief Executive Officer of Enpath Medical, Inc.
"As we bring new introducer technologies to the market, this
relationship will continue to give us access to one of the leading
providers of pacing leads in the world as a potential OEM partner
to distribute those products", said Mr. Hertig. About Enpath
Medical Enpath Medical, Inc., headquartered in Plymouth, Minnesota,
is a leader in the design, development, manufacture and marketing
of percutaneous delivery systems and stimulation leads
technologies. Its proprietary products include venous vessel
introducers, articulating and fixed curve delivery catheters,
epicardial and endocardial stimulation leads, and other products
for use in pacemaker, defibrillator, catheter and infusion port
procedures as well as neuromodulation markets. Its products, which
are primarily finished goods, are sold worldwide through partnering
relationships with other medical device companies. Safe Harbor This
news release contains forward-looking statements as defined by the
Private Securities Litigation Reform Act of 1995. Certain important
factors could cause results to differ materially from those
anticipated by some statements made herein. All forward-looking
statements involve risks and uncertainties. A number of factors
that could cause results to differ materially are discussed in our
Annual Report on Form 10-K for the year ended December 31, 2006, as
well as in our quarterly reports on Form 10-Q and Current Reports
on Form 8-K. Among the factors that could cause results to differ
materially are the following: Enpath's dependence upon a limited
number of key customers for its revenue; Enpath's ability to
successfully protect its intellectual property against
misappropriation or claims of infringement by third parties
including its ability to successfully resolve, or defend itself in,
pending litigation; Enpath's ability to successfully integrate its
operations into its new facility in 2007; the ability of Enpath's
customers to successfully develop and market therapies that utilize
the Company's advanced delivery systems; Enpath's ability to
effectively manufacture its products, specifically steerable
catheters, in anticipated required quantities; Enpath's ability to
develop or acquire new products to increase its revenues; Enpath's
ability to attract and retain key personnel; introduction of
competitive products; government regulatory matters; economic
conditions; and Enpath's ability to raise capital. All
forward-looking statements of Enpath, whether written or oral, and
whether made by or on behalf of Enpath, are expressly qualified by
these cautionary statements. In addition, Enpath disclaims any
obligation to update forward-looking statements to reflect events
or circumstances after the date hereof. DATASOURCE: Enpath Medical,
Inc. CONTACT: Scott Youngstrom, CFO, of Enpath Medical, Inc.,
+1-763-951-8211, Web site: http://www.enpathmed.com/
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