Theragenics Launches Galt Centeze™ Centesis Drainage Catheter Line of Products
Theragenics Corporation® (NYSE: TGX), a medical device company serving the surgical products and prostate cancer treatment markets, today announced that Galt Medical (a wholly-owned subsidiary of Theragenics) launched its Centeze™ Centesis Drainage Catheter line. The Centeze™ is a needle and catheter system used to drain and aspirate fluid from the body. Centeze™ will add to the drainage product platform Galt initiated with the Outflow™ all-purpose drainage products launched in 2011. The addressable market in the United States for centesis drainage is estimated to be approximately $9 million annually.
The Centeze™ product line provides surgeons with an improved device featuring large side ports for improved centesis drainage, with easy insertion and a secure compression fit needle interface for quick advancement to the drainage site. The Centeze™ product line combines sheath technology from Galt and specialty needle technology from NeedleTech Products. Both business units are part of Theragenics' surgical products business segment.
“The launch of the Centeze Centesis Drainage Catheter demonstrates our commitment to continuously expand the product offerings of our surgical products business,” said M. Christine Jacobs, Chairman and Chief Executive Officer of Theragenics Corporation. “It is vital that we have a stream of new products, such as the Centeze product line, that allow us to enter new markets and expand our offerings in markets we currently serve. The collaboration between these two subsidiaries of Theragenics is an example of the synergies we are realizing with our complementary businesses.”
Galt Medical and NeedleTech Products are wholly-owned subsidiaries of Theragenics and, along with CP Medical, comprise Theragenics' surgical products business segment.
Theragenics Corporation (NYSE: TGX) operates two business segments: its surgical products business and its brachytherapy seed business. The surgical products business (www.cpmedical.com, www.galtmedical.com, www.needletech.com) manufactures and distributes wound closure, vascular access, and specialty needle products. Wound closure products include sutures, needles and other surgical products. Vascular access includes introducers, guidewires and related products. Specialty needles include coaxial, biopsy, spinal and disposable veress needles, access trocars, radiofrequency devices, implanters, introducer products, and other needle-based products. The surgical products segment serves a number of markets and applications, including, among other areas, interventional cardiology, interventional radiology, vascular surgery, orthopedics, plastic surgery, dental surgery, urology, veterinary medicine, pain management, endoscopy, and spinal surgery. Theragenics' brachytherapy business manufactures, markets and distributes “seeds” used primarily in the minimally invasive treatment of localized prostate cancer. The Company's brachytherapy product line includes its palladium-103 TheraSeed® device and its iodine-125 AgX100™ device (www.theragenicsbrachy.com). The terms "Company," "we," "us," or "our" mean Theragenics Corporation and all entities included in our consolidated financial statements. For additional information, call our Investor Relations Department at (800) 998-8479 or visit www.theragenics.com.
This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the accuracy of which is necessarily subject to risks and uncertainties, including, without limitation, statements regarding estimated market sizes. Actual results may differ materially due to a variety of factors, including, among other things, risks and uncertainties related to competition within the medical device industry, development and growth of new applications within the medical device markets, new product development cycles, effectiveness and execution of marketing and sales programs, changes in product pricing, continued acceptance of and demand for our products by the markets in which we operate, introduction and/or availability of competitive products by others, potential changes in third-party reimbursement, legislative changes to healthcare markets and industries such as the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act (including provisions such as the medical device tax), uncertainties associated with forecasting demand for a new product, the development and pricing of competing products by competitors, uncertainties and unanticipated costs in connection with the manufacturing and marketing of the Centeze™ Centesis Drainage Catheter line, effectiveness in accessing new customers and new applications, and other factors set forth from time to time in our filings with the Securities and Exchange Commission.
All forward looking statements and cautionary statements included in this document are made as of the date hereof based on information available to us as of the date hereof, and we assume no obligation to update any forward looking statement or cautionary statement.
Frank Tarallo, 800-998-8479 - 770-271-0233
CFO & Treasurer
Lisa Rassel, 800-998-8479 - 770-271-0233
Manager of Investor Relations