Westhouse Medical Services Plc. acquires revolutionary glaucoma treatment and device patents from US Quoted Company, Sunridge International
Healthcare specialist Westhouse Medical Services Plc. ("Ticker Symbol 5WM") today announces it has entered into a $2,000,000 cash and bond deal to acquire assets of Sunridge International. Sunridge will deliver the patents, manufacturing rights, distribution agreements and intellectual property for Pneumatic Trabeculoplasty (PNT) - the method of treatment and equipment used to treat glaucoma.
- (1888PressRelease) April 23, 2012 - The acquisition gives Westhouse Medical Services direct access to the US healthcare market. This is of strategic importance as Westhouse prepare to launch BreastCheck - a revolutionary, non-invasive, breast cancer scanning device which could act as a pre-cursor to the mammogram. The patented and FDA approved BreastCheck product is set for release in summer 2012.
Westhouse is proactively looking to expand its two subsidiaries - Devices and Services - and the acquisition of PNT as a ground-breaking new medical product will enhance the company's devices portfolio.
PNT is the only non-invasive method of treatment capable of reducing intra-occular pressure in sufferers of Primary Open Angle Glaucoma (POAG) - which accounts for 95% of diagnosed glaucoma cases in Europe, the Americas and Africa - as well as ocular hypertension. PNT stimulates a drop in eye pressure, diminishing the need for drug-related treatment in most patients.
Westhouse CEO, Jack Kaye, comments: "Through this acquisition Westhouse will be able to improve the standards of care, and quality of life, for the world's 67 million glaucoma sufferers, as well as lowering overall treatment costs. This maintains Westhouse's commitment to improving primary healthcare, while creating value for investors, healthcare providers and patients alike."
The Sunridge acquisition represents further growth of Westhouse's Services subsidiary. This will be the second addition following the purchase of Profemme's UK and US breast cancer screening patents in November 2011.
WESTHOUSE MEDICAL SERVICES PLC
SYMBOL: 5WM
WKN: A1JKH7
ISIN: GB00B6YWDK49
SEDOL: B6YWDK4
http://www.westhousemedical.com
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