|
Posted: DEC 03, 2007
CSMG
Technologies Live Tissue Connect Subsidiary Receives
CE Mark for New VAD.400 RF Generator
Corpus Christi, TX, December 03, 2007 -- CSMG Technologies,
Inc., (OTCBB: CTUM
- News),
President and CEO Donald S. Robbins today announced
its subsidiary, Live Tissue Connect ("LTC"),
received CE Mark certification for its new VAD.400 RF
Generator.
"We at CSMG Technologies are extremely pleased
to announce that our subsidiary Live Tissue Connect's
generator has received the ability to be CE Marked.
This important milestone allows the generator to be
sold in Europe. This is a major step toward launching
the entire VAD-400 handpiece and generator system into
the European markets. Presently we are evaluating multiple
distribution options, both in the U.S. and internationally,"
said Mr. Robbins.
LTC's Frank D'Amelio commented, "Being in compliance
with all applicable IEC60601 and MDD test regulations
is a significant accomplishment, its the result
of the hard work of the LTC team and our generator manufacturing
company. We're proud to receive such compliance notification
from TUV Nord. Our next step will be to obtain a CE
Mark for our disposable handpieces. We know that there
is a huge market in Europe for our generator and the
instruments it will support. Passing the CE Mark examination
is a major requirement to address this market."
Mr. Robbins added, LTC is attracting interest
from many significant medical device companies and distributors
interested in representing, licensing, and/or marketing
some aspect of the LTC technology. Each LTC wholly-owned
subsidiary represents a distinct manufacturing, marketing,
or licensing opportunity, and represents a major commercial
opportunity for our company.
The CE mark is required only in the countries of the
European Economic Area (EEA) and in Turkey. The EEA
is formed by the 27 Member States of the European Union
(EU) and the three members of the European Free Trade
Association (EFTA); Iceland, Norway and Liechtenstein.
LTC has identified 12 procedure-specific divisions
and established the first six regarded as closest to
product and market completion. This subsidiary structure
allows the company to leverage LTC's R&D across
multiple medical disciplines. As an example, the R&D
effort that went into developing a sealing device for
gynecological arteries and veins might be leveraged
into a similar device for urological procedures though
would likely be different in shape and/or size. This
structure also lets potential marketing partner's select
surgical specialties where they have strong physician
relationships and/or pre-existing distribution channels.
Presently we are evaluating multiple distribution
options both in the U.S. and internationally,"
continued Mr. Robbins.
About CSMG Technologies, Inc
LTC's surgical tissue bonding / welding device is a
patented platform technology that bonds and reconnects
human soft tissue through fusion, in contrast with conventional
wound closing devices such as sutures, staples, sealant,
or glues. LTC currently holds a total of approximately
40 patents in the U.S., Australia, Canada, European
Union, Ukraine and other countries.
For further information on CSMG Technologies and its
various subsidiaries, please visit our website at www.csmgtechinternational.com.
Sign up to receive CSMG Technologies automated email
press releases and other notifications: Please go to
www.csmgtechinternational.com/contact_information.html
and fill-in information.
This press release may contain forward-looking
information within the meaning of Section 21E of the
Securities Exchange Act of 1934 as amended (the Exchange
Act), including all statements that are not statements
of historical fact regarding the intent, belief or current
expectations of the company, its directors or its officers
with respect to, among other things: (i) the company's
financing plans; (ii) trends affecting the company's
financial condition or results of operations; (iii)
the company's growth strategy and operating strategy;
and (iv) the declaration and payment of dividends. The
words "may," "would," "will," "expect," "estimate,"
"anticipate," "believe," "intend" and similar expressions
and variations thereof are intended to identify forward-looking
statements. Investors are cautioned that any such forward-looking
statements are not guarantees of future performance
and involve risks and uncertainties, many of which are
beyond the company's ability to control, and that actual
results may differ materially from those projected in
the forward-looking statements as a result of various
factors.
CONTACT:
CSMG Technologies, Inc.
Donald S. Robbins, President and CEO
361-887-7546
or
K. Bruce Jones, 770-955-0409
or
ROI Group Associates, Inc.
Michael Dodge, 212-495-0744
mdodge@roiny.com
|