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HEALTHCARE | Medical Devices & Equipment / Surgical Devices

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Stage

Acquired | Acquired

Total Raised

$6.7M

Valuation

$0000 

About Microsurge

Improved instrumentation for minimally invasive surgery. Acquired by UroHealth, renamed Imagyn Medical Technologies, Inc.

Microsurge Headquarter Location

United States

Latest Microsurge News

1997 PR Newswire Association LLC 16 May. Urohealth Systems, Inc. Acquires Microsurge, Inc. - Free Online Library

May 16, 2016

<a href="http://www.thefreelibrary.com/Urohealth+Systems%2c+Inc.+Acquires+Microsurge%2c+Inc.-a019203116</a> Citations: MLA style: "Urohealth Systems, Inc. Acquires Microsurge, Inc.." The Free Library. 2016 http://www.thefreelibrary.com/Urohealth+Systems%2c+Inc.+Acquires+Microsurge%2c+Inc.-a019203116 Chicago style: The Free Library. S.v. Urohealth Systems, Inc. Acquires Microsurge, Inc.." Retrieved May 16 2016 from http://www.thefreelibrary.com/Urohealth+Systems%2c+Inc.+Acquires+Microsurge%2c+Inc.-a019203116 APA style: Urohealth Systems, Inc. Acquires Microsurge, Inc.. (n.d.) >The Free Library. (2014). Retrieved May 16 2016 from http://www.thefreelibrary.com/Urohealth+Systems%2c+Inc.+Acquires+Microsurge%2c+Inc.-a019203116 NEWPORT BEACH, Calif., March 13 /PRNewswire/ -- UROHEALTHSystems, Inc. (Nasdaq: UROH), today announced that it has acquiredMicrosurge, Inc., a privately held medical device company located inNeedham, Massachusetts, in a transaction valued at $38 million. Thetotal consideration was approximately $29 million of UROHEALTH commonstock and the assumption of $9 million of debt. Additional terms of theagreement were not disclosed. Microsurge, Inc. specializes in developing, manufacturing andmarketing innovative, ergonomic instruments for minimally invasivesurgical procedures, including laparoscopy and emerging applicationssuch as thoracoscopy. With continued pressure on the health care systemto reduce costs, Microsurge is designing high performance, multi-useinstruments to be used in lieu of disposables which could significantlylower per procedure instrumentation costs. Microsurge has already commercialized two major multi-use productlines targeted for laparoscopy, which is performed in more than 2.4million surgical cases annually, with the instrumentation costsexceeding $1 billion per year. These lines include DetachaTip scissors,graspers and dissectors, which are used to cut and manipulate tissuesand organs, and DetachaPort trocars, which enable surgeons to access theabdominal cavity. To complete its laparoscopy line, Microsurge hasdeveloped two additional product offerings, DetachaClip multi-use clipappliers and CoolTec multi-use electrocautery devices, which areexpected to be launched later this year. The company is also pioneering the development of multi-useinstrumentation for thoracic procedures, a new and growing area withinthe minimally invasive surgery market. The number of thoracoscopyprocedures is expected to more than double in the next five years fromits current rate of 92,000 cases per year as new applications develop.Currently, Microsurge is collaborating with surgeons at Brigham andWomen's Hospital in Boston, Massachusetts on a product line forLung Volume Reduction procedures, a new surgical technique undergoingclinical evaluation for treatment of emphysema, a disease that afflictsmore than 2 million people in the U.S. E. James Hutchens, Chairman and Chief Executive Officer ofMicrosurge, Inc., noted, "Joining forces with UROHEALTH, a strongand growing presence in the minimally invasive surgery market, is agreat opportunity for Microsurge and its shareholders. UROHEALTH'sproduct strategy is consistent with our own offering complementary MISportfolios of cost-effective, highly differentiated instruments to meetthe changing needs of the health care system. Backed by the significantmarketing and distribution capabilities of UROHEALTH's directsalesforce, Microsurge will have the resources required to more rapidlyincrease the market penetration of existing and future multi-useinstrumentation lines. " Charles A. Laverty, Chairman and Chief Executive Officer ofUROHEALTH Systems, Inc., commented, "Over the past five years,Microsurge has developed products that capitalize on new and growingapplications and techniques for minimally invasive surgery. In ourestimation, the unique, multi-use feature, coupled with the qualitydesign, makes these instrumentation lines the right choice for the MISmarketplace from both an economic and performance standpoint. ForUROHEALTH, the acquisition of Microsurge's technology base, as wellas its products, gives us a strong foundation upon which to build anextensive franchise in multi-use MIS products. " UROHEALTH Systems, Inc. is a designer, manufacturer and marketerof disease specific urological, gynecological and general surgerymedical products for the health care market. This press release contains, in addition to historicalinformation, forward-looking statements, that involve risks anduncertainties. These include statements regarding the Company'sgrowth and expansion plans. Such statements are based uponmanagement's current expectations and are subject to a number ofuncertainties and risks that could cause actual results to differmaterially from those described in the forward looking statements. SOURCE UROHEALTH Systems, Inc. -0- 03/13/97 /CONTACT: Charles A. Laverty, Chairman and Chief ExecutiveOfficer, or James Johnson, Executive Vice President & CFO, ofUROHEALTH, 714-668-5858; or Investor Relations: Betsy Brod or AlexGleeson, or Media: Miriam Adler or Erika Brown, of Morgen-WalkeAssociates, 212-850-5600/ (UROH) CO: UROHEALTH Systems, Inc.; Microsurge, Inc. ST: California IN:MTC SU: TNM GW -- NYTH057 -- 6024 03/13/97 07:45 EST http://www.prnewswire.com COPYRIGHT 1997 PR Newswire Association LLC No portion of this article can be reproduced without the express written permission from the copyright holder. Copyright 1997 Gale, Cengage Learning. All rights reserved. Article Details

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