Conceptus(R) to Discontinue GYNECARE THERMACHOICE(R) Promotion and Restructure U.S. Sales Organization
Conceptus, Inc. (Nasdaq: CPTS) announced today the Company's decision to discontinue its promotion of the GYNECARE THERMACHOICE® Uterine Balloon Therapy System to U.S. OB/GYN physician offices. The product is manufactured for and marketed by ETHICON™ Women's Health and Urology, a division of Ethicon, Inc. The Company's promotion agreement with Ethicon was announced in November 2010 and is subject to a six-month advance notice of termination.
"We believe the long-term opportunity for our Essure procedure remains highly attractive, and the salesforce time to drive the GYNECARE THERMACHOICE® promotion is, in this case, better redirected to our highest priority which is to grow our Essure business," stated D. Keith Grossman, president and chief executive officer of Conceptus. "We have not yet concluded the transitional details of our relationship with ETHICON, but we intend to continue working with them to ensure a smooth transition for our customers."
