Bovie Medical Corporation (the “Company”) (NYSE-AMEX Symbol: BVX), a manufacturer and marketer of electrosurgical products, today announced the Company received clearance from the Food and Drug Administration (FDA) to market its proprietary BOSS™ bipolar sintered steel coagulation device. The BOSS™ is the latest device based on Bovie’s saline enhanced sintered steel technology.
The BOSS™ delivers RF energy simultaneously with saline to perform coagulation of soft tissue and bone resulting in reduced blood loss while minimizing charring and sticking of tissue. Saline enhanced surgeries reduce operating time while improving post-operative outcomes leading to shortened recovery time.
The BOSS™ will primarily be targeted to orthopedic surgeons performing hip and knee arthroplasty; a market comprised of approximately 1.1 million procedures performed annually in the United States. These orthopedic procedures represent large and growing markets due to a more active and aging population. Additional markets for the BOSS™ include spine, endoscopic, abdominal and thoracic surgeries. The worldwide market is expected to exceed $500 million in 2010.
Andrew Makrides, president of Bovie, stated, “Receiving FDA clearance to market the BOSS™ is a significant milestone in Bovie’s development of disposable high margin proprietary products for fast growing markets.”For further information about the Company’s current and new products, please refer to the Investor Relations section of Bovie’s website www.boviemedical.com. Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission. For forward-looking statements in this new release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.