Kelyniam Global Acquires MED-ALLY
November 19 2014 - 8:00AM
Business Wire
Innovator of Implantable Neuromodulation
Devices Brings Significant Value and Opportunities to
Company
Kelyniam Global, Inc. (OTC Pink: KLYG), an innovative medical
device design and manufacturing company, announced today it has
acquired MED-ALLY, LLC as part of its product diversification
initiative. MED-ALLY applies custom, proprietary Neuromodulation
technology to create a number of external and implantable medical
devices that can be used to treat a wide array of conditions
including chronic pain management, urinary incontinence, sleep
apnea, Tinnitus and Deep Brain Stimulation applications such as
Alzheimer’s, Epilepsy, and Parkinson’s disease.
Kelyniam’s current product line is made up of precise and novel,
customized PEEK cranial and facial implants used to fill bony voids
caused by trauma, birth defects or disease. Its streamlined CAD/CAM
design and manufacturing techniques enable Kelyniam to deliver
patient-specific PEEK implants to surgeons in as little as 24 hours
from the receipt of an order – a timeframe which is unmatched in
its industry. The ability to provide custom PEEK implants quickly
and accurately can reduce the time between trauma and implantation
and provides surgeons additional treatment options.
“Kelyniam’s mission is to develop and manufacture medical
devices that significantly improve medical care, surgical outcomes
and patient quality of life, and our acquisition of MED-ALLY
greatly enhances our ability to do just that,” said Tennyson
Anthony, president and CEO of Kelyniam Global. “Our cost-effective
Implantable Pulse Generators will provide an alternative to
addictive opiates for patients suffering from chronic pain, and
provide new hope and the promise of an enhanced quality of life for
many patients suffering from other ailments who currently have no
viable alternative treatment.”
MED-ALLY founders, John Mulvihill and Raja Hitti, bring more
than 50 years of combined medical device design, development,
manufacturing, sales and marketing experience that will have a
positive impact on Kelyniam customers globally. MED-ALLY has
agreements with multiple early-stage neuromodulation companies to
deliver an active implantable medical device system to treat new
therapeutic indications not currently available in the market. A
recent market study from Neurotech Reports estimates the
neuromodulation medical device market to be $4 billion and growing
more than 18% annually.
For more go to www.kelyniam.com.
About Kelyniam Global,
Incorporated
Kelyniam Global (OTC Pink: KLYG) is an innovative Medical Device
Manufacturing Company specializing in the production of custom PEEK
cranial and facial prosthetics and proprietary, implantable
neuromodulation medical device systems. Its Engineering Division
works diligently with medical professionals - allowing them to
operate more effectively, improve patient care and surgical
outcomes while reducing health care cost.
Forward-Looking
Statements
Except for historical information contained in this release, the
matters discussed are forward-looking statements that involve risks
and uncertainties. When used in this release, words such as
"anticipate," "believes," "estimate," "expect," "should," "intend,"
"projects," "objective" and "appears" and similar expressions, as
they relate to the Company or its management, identify
forward-looking statements. Such forward-looking statements are
based on the beliefs of the Company's management, as well as
assumptions made by and information currently available to the
Company's management. Among the factors that could cause actual
results to differ materially are the following: the effect of
business and economic conditions; the impact of competitive
products and pricing; capacity and supply constraints or
difficulties; product development, commercialization or
technological difficulties; the regulatory and trade environment;
the impact of reimbursement rates and coverage; and the risk
factors reported from time to time in the Company's SEC reports.
The Company undertakes no obligation to revise any forward-looking
statements as a result of future events or developments.
for Kelyniam Global, Inc.Christian Scarborough,
325-388-6263christian@inventivepr.netwww.inventivepr.net
Kelyniam Global (PK) (USOTC:KLYG)
Historical Stock Chart
From Nov 2024 to Dec 2024
Kelyniam Global (PK) (USOTC:KLYG)
Historical Stock Chart
From Dec 2023 to Dec 2024