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.
Source:SANUWAVE Health, Inc.