Trimedyne, Inc. (the "Company", "we", "our" or "us") is engaged in the
development, manufacturing and marketing of 80 watt and 20 watt Holmium "cold"
pulsed lasers ("Lasers") and a variety of disposable and reusable, fiber optic
laser energy delivery devices ("Fibers", "Needles" and "Tips") for use in a
broad array of medical applications.
Our Lasers, Fibers, Needles and Tips have been cleared for sale by the U.S. Food
and Drug Administration ("FDA") for use in orthopedics, urology, ear, nose and
throat ("ENT") surgery, gynecology, gastrointestinal surgery, general surgery
and other medical specialties. Most of the medical procedures in which our
Lasers, Fibers, Needles and Tips are used are being reimbursed by Medicare and
most insurance companies and health plans.
Our 100% owned subsidiary, Mobile Surgical Technologies, Inc. ("MST"), is
engaged in the rental of lasers, along with the services of a trained operator
and, if requested, the provision of applicable Fibers, Needles or Tips, on a
"fee per case" basis to hospitals, surgery centers, group practices and
individual physicians in Texas and Oklahoma. MST's revenues and those of our
field service department represented only about 28% of our revenues in the
fiscal year ended September 30, 2006.
The principal market for our Lasers and Needles is presently in orthopedics to
treat herniated (bulging) and ruptured lumbar, thoracic and cervical discs in
the spine, two of the four major causes of lower back, neck and leg pain. Our
Lasers and Tips are also used in orthopedics to treat damage in joints, such as
the knee, shoulder, elbow, ankle and wrist, in outpatient, arthroscopic
While the second most important market for our Lasers and Fibers is presently in
urology to fragment stones in the kidney, ureter and bladder, we are developing
a new, proprietary, Side Firing Laser Fiber for use with our 80 watt Lasers and
Holmium lasers manufactured by others to vaporize a portion of the prostate
gland to treat Benign Prostatic Hyperplasia or "BPH", commonly referred to as an
enlarged prostate. This condition, in which excessive growth of the prostate
causes difficulty in urination, affects about 50% of men over age 55, and a
higher percentage of men at advanced ages.
This new Fiber will be marketed by Boston Scientific Corporation (NYSE:BSX) in
the U.S. and Japan and by Lumenis, Ltd. (LUME.PK) elsewhere throughout the
world. Boston Scientific is a major factor in the urology field with a large
sales organization in the U.S. and Japan. Lumenis, which is based in Israel, is
the world's largest manufacturer of medical lasers, employs a worldwide sales
organization and has sales exceeding $200 million. As a result of Boston
Scientific and Lumenis marketing our new Side Firing Fiber, we believe urology
will become our principal market.
During October through December 2006, we sold 2,650,000 Shares for an aggregate
of $3,312,500. After deducting $300,000 of estimated costs of the offering, the
estimated net proceeds to us were $3,012,500. The principal use of these funds
will be to support the increased level of business expected to arise from sales
of our new Fiber by Boston Scientific and Lumenis.
June 19, 2007 Interview on MN1: