Tampa Bay Business Journal recently published an article on Bovie Medical called "Bovie Slices Into Surgical Markets with New Technology" written by Jane Meinhardt. Read more to catch a glimpse on what the Tampa Bay Business Journal had to say:
A small electrosurgical device company received U.S. Food and Drug Administration approval to start marketing J-Plasma, a surgical tool that uses helium and an electrical charge to create a plasma stream as it cuts.
Bovie Medical Corp. has initiated beta testing of the technology at surgical centers in the Atlanta and Nashville, Tenn. areas, with sales planned to start in several weeks, said Robert Saron, president of company. He would not identify the centers.
He also declined to discuss Bovie's revenue projections for J-Plasma, but said, "it has the potential to change our company." That's a positive for the strong cluster of medical device manufacturers in Pinellas County and the Tampa Bay area.
The company's investment information on its website states the J-Plasma electrosurgical generator, which energizes the surgical tool using a gas ionization process, has an approximate worldwide market of more than $2 billion.
Bovie (NYSE Amex: BVX) reported first quarter revenue of $6.73 million, up 9.4 percent from $6.15 million in the same period a year ago. Net income was $321,000, or $0.01 per share, down from $647,000 or $0.03 share.
The revenue stream possible with the J-Plasma technology could be significant based on its cost and potential uses.
The J-Plasma disposable hand pieces cost $200 to $400 each, and the J-Plasma ICON electrosurgical generator unit cost ranges from $15,000 to $20,000, Saron said.
Read complete article here: Tampa Bay Business Journal
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