ATLANTA, GA--(Marketwired - Aug 24, 2016) - Medovex Corp. ( NASDAQ : MDVX ), a developer of medical technology products, today announced that it and its design and manufacturing partner Bovie Medical have commenced commercial production of the Company's DenerveX™ Pro-40 Power Generator as one more step towards the launch in the EU. Bovie Medical is a Florida based world leader in the development and manufacture of electrosurgical products.
"Bovie is a highly respected leader in this field," said Jarrett Gorlin, Chief Executive Officer of Medovex Corporation. "We are very pleased to nearing the completion of the design and testing stage, now moving to commercial production. Working with Bovie Medical has ensured that the power source to the DenerveX Device, focused on treatment of patients with Facet Joint Pain, will be safely and effectively matched with the device itself." The DenerveX Power generator Pro-40 was specifically designed and manufactured as a dedicated power generator for the Company's DenerveX Device.
According to Patrick Kullmann, President and COO, "The DenerveX Pro-40 generator will offer the optimal power source to the single use DenerveX device without relying on other less reliably matched power sources in the market today. The DenerveX system consists of the DenerveX Pro-40 generator and the DenerveX device. The combined system results in an exclusively matched system that will serve our customers and their patients well in the areas of quality of therapy delivery and safety. The DenerveX Pro-40 will provide both RF energy and motor power to the DenerveX device for the treatment of Facet Joint Syndrome, a very common and problematic source of back pain."
The Company's patented DenerveX System, currently in the final development stages and not yet commercially available, is designed to provide longer lasting relief of pain associated with the facet joint. Lower back pain is the second most common cause of disability in the U.S. for adults. Studies indicate that 10% of the U.S. adult population suffers from lower back pain and that 31% of lower back pain is attributed to facet joint pain.
The DenerveX System consists of the DenerveX device kit, a single use device, and the reusable DenerveX Pro-40 Power Generator. The DenerveX system is designed to provide a minimally invasive treatment option which combines two actions into one device. The combined procedure is expected to provide a longer lasting solution and potential savings to the health care system.
DenerveX system is not yet CE marked or FDA cleared and is not yet commercially available.
Medovex was formed to acquire and develop a diversified portfolio of potentially ground breaking medical technology products. Criteria for selection include those products with potential for significant improvement in the quality of patient care combined with cost effectiveness. The Company's first pipeline product, the DenerveX device, is intended to provide long lasting relief from pain associated with facet joint syndrome at significantly less cost than currently available options. To learn more about Medovex Corp., visit www.medovex.com
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Last updated on: 25/08/2016
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