KLYG($.1099) taking it on the chin today; what do you think of the acquisition announced yesterday?
PRW: Kelyniam Global Acquires MED-ALLY
Innovator of Implantable Neuromodulation Devices Brings Significant Value
and Opportunities to Company
CANTON, Conn.--(BUSINESS WIRE)--November 19, 2014--
Kelyniam Global, Inc. (OTC Pink: KLYG), an innovative medical device design
and manufacturing company, announced today it has acquired MED-ALLY, LLC as
part of its product diversification initiative. MED-ALLY applies custom,
proprietary Neuromodulation technology to create a number of external and
implantable medical devices that can be used to treat a wide array of
conditions including chronic pain management, urinary incontinence, sleep
apnea, Tinnitus and Deep Brain Stimulation applications such as Alzheimer's,
Epilepsy, and Parkinson's disease.
Kelyniam's current product line is made up of precise and novel, customized
PEEK cranial and facial implants used to fill bony voids caused by trauma,
birth defects or disease. Its streamlined CAD/CAM design and manufacturing
techniques enable Kelyniam to deliver patient-specific PEEK implants to
surgeons in as little as 24 hours from the receipt of an order -- a
timeframe which is unmatched in its industry. The ability to provide custom
PEEK implants quickly and accurately can reduce the time between trauma and
implantation and provides surgeons additional treatment options.
"Kelyniam's mission is to develop and manufacture medical devices that
significantly improve medical care, surgical outcomes and patient quality of
life, and our acquisition of MED-ALLY greatly enhances our ability to do
just that," said Tennyson Anthony, president and CEO of Kelyniam Global.
"Our cost-effective Implantable Pulse Generators will provide an alternative
to addictive opiates for patients suffering from chronic pain, and provide
new hope and the promise of an enhanced quality of life for many patients
suffering from other ailments who currently have no viable alternative
treatment."
MED-ALLY founders, John Mulvihill and Raja Hitti, bring more than 50 years
of combined medical device design, development, manufacturing, sales and
marketing experience that will have a positive impact on Kelyniam customers
globally. MED-ALLY has agreements with multiple early-stage neuromodulation
companies to deliver an active implantable medical device system to treat
new therapeutic indications not currently available in the market. A recent
market study from Neurotech Reports estimates the neuromodulation medical
device market to be $4 billion and growing more than 18% annually.
For more go to www.kelyniam.com.
About Kelyniam Global, Incorporated
Kelyniam Global (OTC Pink: KLYG) is an innovative Medical Device
Manufacturing Company specializing in the production of custom PEEK cranial
and facial prosthetics and proprietary, implantable neuromodulation medical
device systems. Its Engineering Division works diligently with medical
professionals - allowing them to operate more effectively, improve patient
care and surgical outcomes while reducing health care cost.
Forward-Looking Statements
Except for historical information contained in this release, the matters
discussed are forward-looking statements that involve risks and
uncertainties. When used in this release, words such as "anticipate,"
"believes," "estimate," "expect," "should," "intend," "projects,"
"objective" and "appears" and similar expressions, as they relate to the
Company or its management, identify forward-looking statements. Such
forward-looking statements are based on the beliefs of the Company's
management, as well as assumptions made by and information currently
available to the Company's management. Among the factors that could cause
actual results to differ materially are the following: the effect of
business and economic conditions; the impact of competitive products and
pricing; capacity and supply constraints or difficulties; product
development, commercialization or technological difficulties; the regulatory
and trade environment; the impact of reimbursement rates and coverage; and
the risk factors reported from time to time in the Company's SEC reports.
The Company undertakes no obligation to revise any forward-looking
statements as a result of future events or developments.
CONTACT: for Kelyniam Global, Inc.
Christian Scarborough, 325-388-6263
christian@inventivepr.net
www.inventivepr.net
SOURCE: Kelyniam Global, Inc.
Copyright Business Wire 2014
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Ronald Reagan
