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WOUNDTEK, INC ANNOUNCES
NEW DISTRIBUTION AGREEMENT WITH TECH-MEDICAL SERVICES, INC.
NEWPORT, RI, December 2, 2005
– WoundTEK, Inc., a privately held medical device company,
announced today that has entered into an exclusive agreement with
Tech Medical Services of Nixa, Missouri to market and distribute
it’s leading wound closure device throughout Missouri, Kansas,
Nebraska, Oklahoma, Iowa, and Southern Illinois.
The Agreement allows Tech Medical to exclusively
market and sell the S.T.A.R. device into this vast region. The S.T.A.R.,
(Suture Tension Adjustment Reel) is the first minimally invasive
tissue expansion device for the closure of large open wounds caused
by trauma and surgery.
"We are very happy to welcome Tech-Medical
to our family of distributors. They have been selling specialty
medical products to surgical hospitals in their market for a very
long time and have 7 very seasoned sales people that have relationships
with dozens of hospitals and health care facilities. It represents
a very large opportunity for us to grow our awareness and our market
share rapidly.” Said Andrew Reilly, WoundTEK, Inc. Chief Executive.
“Tech- Medical helps medical device companies
create new product markets. The opportunity that the S.T.A.R. device
represents is very large and I think that we can help WoundTEK become
a dominant player in the wound closure space” Ken Anderson,
Tech- Medicals’ Founder and President said. He continued,
“Our success as a company depends on our ability to introduce
the latest medical technology to our customers. The surgeons and
hospitals needs are our main focus and we think the S.T.A.R. device
will be very well received.”
Tech-Medical is a regional medical device sales
company, covering six states and is a privately held company. Tech
Medicals’ charter is to create strong sales and marketing
programs for highly specialized O.R. products targeted to specialty
surgeons within the middle states of the USA.
WoundTEK, Inc based in Newport, RI is a medical
device company focused on the closure of large wounds and skin deficits
caused by trauma or surgery. The company manufactures The S.T.A.R.
Device. The first minimally invasive tissue expansion device, The
S.T.A.R. brings to closure large wounds that cannot be closed using
primary closure methods. The S.T.A.R. is a simple, effective and
proven method of closing large wounds. Comprised of a winder reel
and an anchor mechanism joined by a simple mattress suture, The
S.T.A.R. is able to rapidly expand tissue across large skin deficits
with very little discomfort, closing large wounds faster and raising
the level of patient care.
Large wound closure is a major health care problem
worldwide and is one of the leading causes of deadly infections
in the United States. Almost 2,00,000 trauma cases and surgical
procedures each year are faced with the challenge of closing large
wounds and skin deficits. Current procedures to close large wounds
can be technically demanding, increase the risk of infection, and
be very invasive, painful, and have deep scaring effects to the
tissue. The S.T.A.R. System reduces many of the challenges that
are currently faced by surgeons today.
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This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are necessarily
estimates reflecting the best judgment of our management and involve
a number of risks and uncertainties that could cause actual results
to differ materially from those suggested by the forward-looking
statements. These forward-looking statements should, therefore,
be considered in light of various important factors, including the
following: timing and success of product development and market
acceptance of developed products; regulatory approvals, clearances
and restrictions; guidelines and recommendations in the health care
and patient communities; intellectual property positions and litigation;
competition in the medical device industry and in the specific markets
of surgery in which WoundTEK operates; unanticipated manufacturing
disruptions, delays in regulatory approvals of new manufacturing
facilities or the inability to meet demand for products. Words such
as "estimate," "project," "plan,"
"intend," "expect," "anticipate,"
"believe" and similar expressions are intended to identify
forward-looking statements. You are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. We undertake no obligation to
publicly update or release any revisions to these forward-looking
statements to reflect events or circumstances after the date of
this press release or to reflect the occurrence of unanticipated
events.
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