SANUWAVE Health Signs Strategic Agreement With Premier Shockwave to Manage
ALPHARETTA, Ga., July 22, 2014 (GLOBE NEWSWIRE) -- SANUWAVE Health, Inc.
(OTCQB:SNWV) today announced that the Company has signed a strategic agreement
with Premier Shockwave, Inc. to manage the Company's OssaTron^® devices. The
three year agreement with Premier Shockwave will provide SANUWAVE with an
opportunity to monetize these assets, which represent the first and only
extracorporeal shock wave therapy (ESWT) system approved by the U.S. Food and
Drug Administration (FDA) for the treatment of multiple orthopedic conditions
that have failed to respond to conservative treatment.
Mike Stolarski, President and CEO of Premier Shockwave, Inc., stated, "Having
been in the shock wave industry for over 17 years, it is my experience and
belief that the OssaTron truly is the gold standard for treating certain
chronic orthopedic conditions, including plantar fasciitis and lateral
epicondylitis. While the OssaTron is best known for the high profile
professional athletes who have been treated with it, the overwhelming majority
of our cases are related to workers compensation. This strategic agreement
with SANUWAVE will allow us to provide more service around the country, and
therefore reduce the time for patients awaiting treatment."
"We are pleased to expand our relationship with Mike and his team at Premier
Shockwave," stated Kevin Richardson, Chairman of the Board of SANUWAVE. "The
OssaTron is our orthopedic legacy device, which evolved from extracorporeal
shock wave lithotripsy (ESWL) technology that uses shock waves to break a
kidney stone into small pieces. The OssaTron has been proven safe and
effective in stimulating the healing of chronic conditions of the foot
(plantar fasciitis) and the elbow (lateral epicondylitis) and is approved by
the FDA to treat these conditions. We believe this agreement with Premier
Shockwave will generate revenue to SANUWAVE in 2014 and beyond."
Mr. Richardson added: "We remain focused on completing the Phase III
supplemental clinical trial using dermaPACE^® for treating diabetic foot
ulcers as soon as possible. In addition, SANUWAVE's technology platform
includes 38 issued and pending patents, and finding additional strategic
partners to help us monetize and advance new uses for our technology covered
by SANWUAVE's patents into other verticals and applications is very important
for us to achieve our ultimate goal, which is to maximize shareholder value.
We will continue to keep shareholders updated on the Phase III supplemental
clinical trial and any additional strategic relationships."
About Premier Shockwave, Inc.
Premier Shockwave, Inc. is the nation's largest mobile OssaTron service
provider – servicing over 300 hospitals and surgery centers in 29 states. For
more information about Premier Shockwave, please see the company's website at
(www.premiershockwave.com). Premier Shockwave is a non-physician owned,
privately held company.
About SANUWAVE Health, Inc.
SANUWAVE Health, Inc. (www.sanuwave.com) is a shock wave technology company
initially focused on the development and commercialization of patented
noninvasive, biological response activating devices for the repair and
regeneration of skin, musculoskeletal tissue and vascular structures.
SANUWAVE's portfolio of regenerative medicine products and product candidates
activate biologic signaling and angiogenic responses, producing new
vascularization and microcirculatory improvement, which helps restore the
body's normal healing processes and regeneration. SANUWAVE applies its
patented PACE technology in wound healing, orthopedic/spine, plastic/cosmetic
and cardiac conditions. Its lead product candidate for the global wound care
market, dermaPACE^®, is CE Marked throughout Europe and has device license
approval for the treatment of the skin and subcutaneous soft tissue in Canada,
Australia and New Zealand. In the U.S., dermaPACE is currently under the FDA's
Premarket Approval (PMA) review process for the treatment of diabetic foot
ulcers. SANUWAVE researches, designs, manufactures, markets and services its
products worldwide, and believes it has demonstrated that its technology is
safe and effective in stimulating healing in chronic conditions of the foot
(plantar fasciitis) and the elbow (lateral epicondylitis) through its U.S.
Class III PMA approved OssaTron^® device, as well as stimulating bone and
chronic tendonitis regeneration in the musculoskeletal environment through the
utilization of its OssaTron, Evotron^® and orthoPACE^® devices in Europe, Asia
and Asia/Pacific. In addition, there are license/partnership opportunities for
SANUWAVE's shock wave technology for non-medical uses, including energy,
water, food and industrial markets.
This press release may contain "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995, such as statements
relating to financial results and plans for future business development
activities, and are thus prospective. Forward-looking statements include all
statements that are not statements of historical fact regarding intent, belief
or current expectations of the Company, its directors or its officers.
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. Actual results may differ
materially from those projected in the forward-looking statements. Among the
key risks, assumptions and factors that may affect operating results,
performance and financial condition are risks associated with the regulatory
approval and marketing of the Company's product candidates and products,
unproven pre-clinical and clinical development activities, regulatory
oversight, the Company's ability to manage its capital resource issues,
competition, and the other factors discussed in detail in the Company's
periodic filings with the Securities and Exchange Commission. The Company
undertakes no obligation to update any forward-looking statement.
For additional information about the Company, visit www.sanuwave.com.
CONTACT: DC Consulting, LLC
RedChip Companies, Inc.
Mike Bowdoin, Vice President
800-733-2447, ext. 110
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