Laserscope(R) To Launch Revolutionary New BPH Treatment Technology At Upcoming American Urological Association Meeting
May 18 2006 - 8:00AM
PR Newswire (US)
New High Power Diode-Pumped GreenLight(TM) Multi-Application Laser
Platform Leads Introduction of Five New Urology Products SAN JOSE,
Calif., May 18 /PRNewswire-FirstCall/ -- Laserscope (NASDAQ:LSCP),
a leader in the development and commercialization of
minimally-invasive medical lasers and advanced fiber-optic delivery
devices, today reported that the Company will introduce a
revolutionary new laser system for the treatment of BPH and other
medical conditions as well as several additional new urology
products at the upcoming American Urological Association (AUA)
annual meeting being held from May 20th through the 25th in
Atlanta, Georgia. Introducing the GreenLight HPS(TM) The GreenLight
HPS, or High Performance System, is a state-of-the-art surgical
laser technology designed from the ground up to deliver dramatic
improvements in surgical speed and precision in a multi-application
platform utilizing standard utilities. The GreenLight HPS and
associated single-use disposable delivery devices were developed in
response to extensive market and clinical research and input from
urology customers around the world. Major features and benefits of
the GreenLight HPS include: * High power, low divergence laser beam
allowing for precise and rapid tissue vaporization over a wide
range of working distances, anatomy configurations, and tissue
compositions; * High efficiency, air cooled design and small form
factor for use with standard utilities in a wide range of office
and hospital settings; * A distinctive new delivery device design
that eliminates backscatter, protecting vital tissue structures and
providing higher efficiency vaporization; * A multi-application
platform, designed to support the treatment of a range of soft
tissue applications, including BPH, bladder tumors, strictures, and
lesions; * QuickSwitch dual foot pedals that offer total control of
Vaporization/Coagulation and Standby/Ready modes; * A
touch-activated screen display that allows for easy adjustments of
power and mode settings, as well as a number of pre-programmed
settings for complete freedom during procedures; * A voice alert
system, enabling surgical staff to monitor GreenLight system
status; and * Plug and play operation that auto-adjusts line
voltage to provide easy access to virtually any operating room, any
time. "We are very excited about the depth and breadth of our new
product offerings this year. It will be the most extensive one-time
offering in our Company's recent history," said Eric Reuter,
Laserscope President and CEO. "At the AUA Annual Meeting, which is
the largest worldwide urology tradeshow of the year, we will
introduce new products for the treatment of BPH, urinary stones,
and bladder tumors and strictures, demonstrating our commitment to
new, innovative and highly differentiated clinical and business
solutions for our urology customers. "We are especially excited
about the new GreenLight HPS," continued Reuter, "as we believe it
truly represents a technological breakthrough on a number of
fronts. Our customers have told us over the past few years that
there are three challenges affecting the widespread adoption of the
current GreenLight technology and the Photo-Selective Vaporization
of the Prostate (PVP) procedure. In order of preference, our
existing and prospective customers wanted faster treatment speeds,
better visibility, and for the product to operate using standard
electrical service. We believe we have addressed these preferences
and that this product will exceed customer expectations."
Clinically, the GreenLight HPS system will be significantly faster
than the current GreenLight system, the GreenLight PV(R) system, or
any other known technology for treating BPH surgically. Laboratory
testing and early clinical experience on patients has indicated
GreenLight HPS is approximately 75% to 125% faster than the
GreenLight PV laser system while preserving and maintaining the
unique hemostatic, relatively safe, and surgically precise benefits
of the 532 nanometer wavelength "green" laser energy. High speed
vaporization allows for the efficient and cost-effective treatment
of virtually all gland sizes, large and small. The unique optical
and power delivery design of the new GreenLight HPS system
significantly improves intraoperative visibility for the surgeon
and enables an optimal treatment outcome over a wider range of
surgical techniques. Of significant practical importance, the
external utility demands have been reduced substantially despite
the dramatic improvements in available surgical speed and nearly
160 Watt available laser power. The new GreenLight HPS requires
only standard electrical service typically found in most outpatient
hospital surgical suites, ambulatory surgical centers and
office-based surgical facilities. The utility requirements for the
current GreenLight are unique and sometimes involve difficult to
obtain external water and power inputs, making it cumbersome and
expensive to install. This has prevented access or support of the
technology in some hospitals. In contrast, the new GreenLight HPS
can be rolled in, plugged into the wall, and immediately used to
perform surgery. With these advancements in surgical capability and
electrical utility requirements, the GreenLight HPS is an integral
part of Laserscope's new GreenLight SurgiSuite(TM), a turn-key
solution for customers interested in the growing trend of
office-based surgical facilities for PVP and other surgical
procedures. "Continued progress in establishing PVP using the
GreenLight laser system product line as the standard of care for
treatment of BPH requires ongoing evolution of technology as the
procedure moves through the technology adoption curve," said Mr.
Reuter. "Our current GreenLight product has been an excellent
performer for over four years and will remain part of our product
offering. The new GreenLight HPS platform, however, represents a
revolutionary and state-of-the-art advancement in clinical
technology. We expect the wide combination of features and benefits
will attract many current GreenLight customers as well as
physicians who may have been waiting on the sidelines doing TURPs
or using other less efficacious and slower office-based
technologies. Additionally, as more data on the questionable cost
benefit proposition of medical therapies (drugs) and other less
efficacious and costly technologies used to treat BPH becomes
available, many urologists and health care providers worldwide will
be driven to look for single, efficacious, durable, and safe
treatments for patients who suffer from BPH. We believe the HPS
system and related fiber optic delivery devices significantly
extend the superiority differential of the PVP procedure as the
finest treatment for BPH in the world, bar none. We have received a
very enthusiastic response to the initial clinical use of the
product." "The other new products we will introduce at the AUA will
ship within the next quarter. These products all address
significant market needs and trends expanding Laserscope's product
reach into new markets that leverage our worldwide distribution and
specialty relationships in urology. The new GreenLight HPS platform
and fiber optic delivery devices will be premium-priced both
domestically and internationally. We look forward to sharing more
details about these exciting new products and technologies as well
as some of our other R&D, marketing, and business development
initiatives at the upcoming investor forum in Atlanta, Georgia on
May 22nd," concluded Mr. Reuter. Special Investor Relations Forum
Announced Laserscope will be holding a special Investor Relations
Forum coinciding with the 2006 American Urological Association
Meeting on May 22, 2006 at 6:00 EDT. At this meeting, Laserscope
will be discussing current and future R&D and business
development initiatives for our urology and aesthetic product lines
as well as unveiling the new additions to the Laserscope urology
product line. Investors are invited to attend in-person or via a
web-cast which can be accessed at http://www.laserscope.com/ .
Those planning to attend in person should contact Laserscope's IR
representatives as attendance will be limited. About Laserscope
Laserscope designs, manufactures, sells and services on a worldwide
basis an advanced line of minimally-invasive medical products
including medical laser systems and related energy delivery devices
for the office, outpatient surgical center, and hospital markets.
More information about Laserscope can be found on its web site at
http://www.laserscope.com/ . Safe Harbor Statement This press
release contains forward-looking information within the meaning of
Section 21E of the Securities Exchange Act of 1934, and is subject
to the safe harbor created by this section. These forward-looking
statements include: statements about manufacturing and engineering
improvements in our existing products, expected continued momentum
of Laserscope's business and growth including new product offerings
such as the GreenLight HPS, worldwide adoption of the PVP procedure
using the GreenLight HPS (TM) laser system, the performance of our
new products, especially the GreenLight HPS laser system, and those
new products' attractiveness to current and new customers, our
ability to compete with similar product offerings and other
therapies for the treatment of BPH, and market penetration
opportunities in domestic and international markets. These
statements are subject to a number of risks and uncertainties,
including: the risk that the GreenLight HPS, which has not yet been
released, or other new products fail to perform according to
expectations or that such performance will fail to generate
expected sales growth, uncertainties regarding introduction of new
technologies competitive to Laserscope's products and the degree to
which our current and new products are accepted by customers, which
could affect the level of demand for our products; any acquisitions
we make, including the acquisition of InnovaQuartz, Inc., may not
provide us the expected benefits and could disrupt our business and
harm our financial condition, results of operations and cash flows,
uncertainties regarding the impact that competitive products and
therapies as well as private and public payer reimbursement levels
for the PVP procedure could have on the competitiveness of our
current pricing programs, which could adversely impact our
financial results; our dependence on sole source providers for key
components and products; risk of reductions in government and
private insurance reimbursement of hospitals and physicians for
health care costs, which may negatively impact hospitals and
physicians decisions to purchase our products reducing adoption
rates and sales growth; risks that we may be unable to protect
adequately the integrity, safety and proper use of our disposable
fiber optic delivery device with the GreenLight HPS(TM) and PV(R)
laser systems, which could result in negative patient outcomes and
reduce our disposable delivery device recurring revenue stream;
risks that patents and licenses that we hold may be challenged,
invalidated or circumvented or that we may become the subject of
intellectual property litigation; uncertainties regarding our
ability to compete with companies that have significantly greater
financial, technical, research and development, manufacturing and
marketing resources than we have; and uncertainties that new
products will receive regulatory approval in applicable
jurisdictions. Actual results may differ materially due to these
and other factors. The matters discussed in this press release also
involve risks and uncertainties described from time to time in
Laserscope's filings with the Securities and Exchange Commission.
In particular, see the Risk Factors described in Laserscope's most
recent Quarterly Report on Form 10-Q and Annual Report on Form
10-K. Copies of Laserscope's public disclosure filings with the
SEC, including the most recent Annual Report on Form 10-K and the
most recent forms 10-Q are available upon request from its Investor
Relations Department at its website at http://www.laserscope.com/
and at the SEC's website: http://www.sec.gov/. Laserscope assumes
no obligation to update the forward-looking information contained
in this press release. At Laserscope: At Financial Relations Board:
Eric Reuter, President & CEO Tricia Ross Analyst/Investor
Contact Derek Bertocci, CFO (617) 520-7064 (408) 943-0636
DATASOURCE: Laserscope CONTACT: Eric Reuter, President & CEO,
or Derek Bertocci, CFO, both of Laserscope, +1-408-943-0636; Tricia
Ross, Analyst/Investor Contact, of Financial Relations Board for
Laserscope, +1-617-520-7064 Web site: http://www.laserscope.com/
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