Key Developments For Misonix Inc
Misonix Inc (MSON.O) (Consolidated Issue listed on NASDAQ Global Market)
Misonix, Inc. Announces New Distribution Agreement For Argentina
Misonix, Inc. announced that it has entered into a new, three year distribution agreement with Chirugia, S.A., based in Buenos Aires, Argentina, for the distribution of the SonaStar Ultrasonic Surgical Aspirator and the BoneScalpel Ultrasonic Bone Cutter. The agreement provides Chirugia with the rights to sell exclusively in Argentina and includes minimum purchase requirements.
Misonix, Inc. Announces New Distribution Agreement For UAE
Misonix, Inc. announced that it has entered into a new, three year distribution agreement with Xenith, LLC, based in Dubai, UAE, for the distribution of the SonaStar Ultrasonic Surgical Aspirator, the BoneScalpel Ultrasonic Bone Cutter, and the SonicOne Ultrasonic Wound Debrider. The agreement provides Xenith with the rights to sell exclusively in The United Arab Emirates (UAE) and other select markets and includes minimum purchase requirements.
Misonix, Inc. Announces Sale of Sonora Medical Systems For $8 Million
Misonix, Inc. announced that substantially all of the assets of its subsidiary, Acoustic Marketing Research, Inc., DBA Sonora Medical Systems, were sold to Medical Imaging Holdings, Inc., for $8 million in cash.
Misonix, Inc. Restructures and Expands Sales Organization In Europe; Two Business Units Have Been Created
Misonix, Inc. announced the restructuring and expansion of its sales organization in Europe. Two business units have been created; one for sales and service of the Sonablate 500 High Intensity Focused Ultrasound (HIFU) System and the other for sales and service of the SonaStar Ultrasonic Surgical Aspirator, the BoneScalpel Ultrasonic Bone Cutting System and the SonicOne Ultrasonic Wound Cleansing and Debridement System. The new Misonix HIFU Technologies business unit, which will be headed by Nick Stevens, will focus on a fee for use business model that will feature a combination of mobile services delivered directly to hospitals and centers of excellence to which qualified patients can be referred. The Company's UKHIFU and Misonix France business units, which were created to support the fee for service business model, will be integrated into Misonix HIFU Technologies and will be overseen by the same management team.
Misonix, Inc. Announces Sale Of Labcaire Business For Up To $5.6 Million
Misonix, Inc. announced the sale of its Labcaire subsidiary to PuriCore International Limited for a total purchase price of up to $5.6 million. Misonix received $3,600,000 at closing and a promissory note in the principal amount of $1,000,000, payable in equal installments of $250,000 on the next four anniversaries of the closing. Misonix will also receive a commission paid on sales for the period commencing on the date of closing and ending on December 31, 2013 of 8% of the pass through Automated Endoscope Reprocessing (AER) and Drying Cabinet products, and 5% of license fees from any chemical licenses marketed by Labcaire directly associated with sales of AER's, specifically for the disinfection of the endoscope. The aggregate commission payable to Misonix is subject to a maximum payment of $1,000,000.
