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WOUNDTEK, INC ANNOUNCES
NEW DISTRIBUTION AGREEMENT WITH SURGICAL & MEDICAL TECHNOLOGIES,
INC.
NEWPORT, RI, December 20,
2005 – WoundTEK, Inc., a privately held medical device
company, announced today that has entered into an exclusive agreement
with Surgical & Medical Technologies, Inc. of Conway, Massachusetts
to market and distribute it’s leading wound closure device
throughout Massachusetts, New Hampshire, Maine, Vermont, Rhode Island,
Connecticut, and Parts of New York State.
The Agreement allows Surgical & Medical Technologies
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 Surgical &
Medical Technologies 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 6 seasoned sales professionals
that have relationships with dozens of hospitals and health care
facilities throughout New England. It represents a very large opportunity
for us to grow our awareness and our market share rapidly.”
Said Andrew Reilly, WoundTEK, Inc. Chief Executive.
“Surgical & Medical Technologies helps
medical device companies grow their market share. 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 in the New England area” John Storm, the company’s
Founder and President said. He continued, “Our success as
a company depends on our ability to introduce new and effective
medical technologies 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.”
Based in Conway Massachusetts, Surgical &
Medical Technologies is a regional medical device sales company,
covering six states and is a privately held company founded by John
Storm.
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.
# # #
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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