01.05.2008 20:00:00
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ArthroCare(R) Establishes Direct Sales Representation in Scandinavia
ArthroCare® Corp.
(Nasdaq: ARTC), a leader in developing state-of-the-art, minimally
invasive surgical products, announced today that it has acquired
OrtoConcept Scandinavia, a medical device distributor based in Aarhus,
Denmark, and specializing in the distribution of sports medicine and
spine devices to surgeons throughout Denmark, Norway and Sweden.
"The acquisition of OrtoConcept supports ArthroCare’s
strategic objective of direct representation in key markets outside the
United States. It further accelerates long term revenue growth
potential, controls in-market focus and brand awareness while enhancing
the operating income of the company’s
international business," said Sten Dahlborg, senior vice president and
general manager of international operations for ArthroCare.
"The establishment of direct sales
representation in Scandinavia through OrtoConcept’s
extremely strong customer relations within the orthopedic community,
experienced personnel and an exceptionally customer-oriented approach to
sales, will further bolster our important relationships with
Scandinavian surgeons.” Dahlborg adds "OrtoConcept’s
employees are already intimately familiar with our products and
processes, so the integration of the business should be relatively
seamless and we are proud to have them on board our team.”
OrtoConcept entered the market and began distribution of ArthroCare’s
products in 2002. Since then they have expanded their operations to
include the Norwegian and Swedish markets as well.
ABOUT ARTHROCARE
Founded in 1993, ArthroCare Corporation (www.arthrocare.com)
is a highly innovative, multi-business medical device company that
develops, manufactures and markets minimally invasive surgical products.
With these products, ArthroCare targets a multi-billion Dollar market
opportunity across several medical specialties, significantly improving
existing surgical procedures and enabling new, minimally invasive
procedures. Many of ArthroCare's products are based on its patented
Coblation® technology, which uses
low-temperature radiofrequency energy to gently and precisely dissolve
rather than burn soft tissue – minimizing
damage to healthy tissue. Used in more than four million surgeries
worldwide, Coblation-based devices have been developed and marketed for
sports medicine; spine/neurologic; ear, nose and throat (ENT); cosmetic;
urologic and gynecologic procedures. ArthroCare also has added a number
of novel technologies to its portfolio, including Opus Medical sports
medicine, Parallax spine and Applied Therapeutics ENT products, to
complement Coblation within key indications.
SAFE HARBOR STATEMENTS Except for historical information, this press release includes
forward-looking statements. These statements include, but are not
limited to, the Company's stated business outlook for fiscal 2008,
continued strength of the Company's fundamental position, the strength
of the Company's technology, the Company's belief that strategic moves
will enhance achievement of the Company's long term potential, the
potential and expected rate of growth of new businesses, continued
success of product diversification efforts, and other statements that
involve risks and uncertainties. These risks and uncertainties include,
but are not limited to the uncertainty of success of the Company's
non-arthroscopic products, competitive risk, uncertainty of the success
of strategic business alliances, uncertainty over reimbursement, need
for governmental clearances or approvals before selling products, the
uncertainty of protecting the Company's patent position, and any changes
in financial results from completion of year-end audit activities. These
and other risks and uncertainties are detailed from time to time in the
Company's Securities and Exchange Commission filings, including
ArthroCare's Form 10-K for the year ended December 31, 2007.
Forward-looking statements are indicated by words or phrases such as
"anticipates," "estimates," "projects," "believes," "intends,"
"expects," and similar words and phrases. Actual results may differ
materially from management expectations.
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