24 Nov 2009 07:00
| For Immediate Release | November 24, 2009 |
AorTech Receives Record Polymer Order
AorTech International plc (AIM: AOR) the biomaterials and medical device development company, today announces the receipt of a $503,000 Elast-Eon™ polymer order, the largest in the company's history.
This order for Elast-Eon 2A reflects the demand of a single customer through to May 31, 2010. Approximately $300,000 will be billed prior to December 31, 2009.
"This polymer order represents a step forward in the growth of the recurring manufacturing revenues associated with our polymer business. As AorTech's polymer business segment continues to mature, it will be augmented by our Elast-Eon-based medical device component business.
"This increase in polymer demand is comfortably within the capacity of our state-of-the-art 1,900 square meter manufacturing facility, which since its opening in January of 2006 has maintained a perfect quality and delivery record," said Frank Maguire, AorTech Chief Executive Officer.
AorTech develops and manufactures biostable, implantable polymers, including Elast-Eon and newly introduced ECSil™. Elast-Eon is the world's leading long-term implantable copolymer. With clinical experience of almost four years and over a million long-term human implants, Elast-Eon is currently used in cardiology, orthopaedic, urological and gastroenterological applications, including pacing leads, cardiac cannulae and stents. Devices manufactured from Elast-Eon have multiple US FDA PMA approvals, CE Marks, Australian TOH and Japanese Ministry of Health approvals.
Elast-Eon's biostability is comparable to silicone while exhibiting excellent mechanical, blood contacting and flex-fatigue properties. It can be processed using conventional thermoplastic extrusion and moulding techniques, as well as Reaction Injection Moulding (RIM). The firm's ISO-certified facility produces a range of Elast-Eon and ECSil materials in a variety of specific formulations for use in medical devices and components.
-Ends-
For further information please contact:
AorTech International plc
Frank Maguire, Chief Executive
Tel: + 1 801 201 4336
Evolution SecuritiesBobbie Hilliam
Tel: +44 20 7071 4300
Chris Clarke
Tel: +44 20 7071 4300
AorTech International plc
Sarah Price, Investor Relations
Tel: + 1 801 550 4349
e-mail sprice@aortech.com