Sensus Healthcare Launches SRT-100 in China for Keloid Prevention and Treatment at Major Dermatology Conference, Extends Distribution Agreement with Chindex Medical
BOCA RATON, Fla., Nov. 1, 2017 /PRNewswire/ -- Sensus Healthcare, Inc. (Nasdaq: SRTS), a medical device company specializing in the non-invasive treatment of non-melanoma skin cancers and keloids with superficial radiation therapy (SRT), announces it has launched the SRT-100(TM) in China for the treatment and prevention of keloids with Chindex Medical Limited. Sensus also announces the extension of its exclusive distribution agreement with Chindex Medical, a joint venture between Fosun Pharma and Chindex International, Inc., through 2020.
SRT-100 launch activities were organized by Chindex Medical in conjunction with the International Congress of Dermatologic & Aesthetic Surgery International League (DASIL) in Shanghai October 24 - 28, followed by additional launch activities in Beijing.
"Chindex Medical organized powerful events to broaden awareness of the SRT-100 and keloid treatment in China, and we are delighted to extend our distribution and marketing agreement for the next three years," said Joe Sardano, chief executive officer of Sensus Healthcare. "We were gratified by the reception we received at DASIL, where Chindex Medical hosted well-attended presentations featuring U.S. and internationally renowned dermatologists such as Dr. Mark Nestor, Dr. David Goldberg and Dr. Michael Gold. In Beijing, Chindex Medical organized a special showing of the SRT-100 to approximately 100 key opinion leaders in China. Based on the reception and interest shown at these events, and because Asians have among the highest incidence of post-surgical keloid scar formation, we are optimistic about the future of the SRT-100 with Chindex Medical."
As previously announced, in July 2017 the SRT-100 received clearance from the China Food and Drug Administration for the treatment and prevention of keloids. Chindex Medical is focused on preventing and treating keloids associated with Cesarean sections and Sensus has developed a special applicator for use with the SRT-100 for this indication. The SRT-100 previously received clearance in China for the treatment of non-melanoma skin cancer indication, and has been marketed by Chindex Medical for that indication since 2015.
About Keloids
Keloids are benign fibrous tissue formed at the site of a scar or injury to the skin. Although keloids have been known to form in all races, they are seen most frequently among those of African, Latin and Asian descent. Surgery and other treatment methods may reduce the size of the keloid, but with a reoccurrence rate of 90%, the current treatment methods are not a permanent solution. Sensus Healthcare's SRT device is a safe alternative in treating existing keloid conditions and is proven to be most effective for reducing the recurrence of keloids when combined with excision surgery.
About Chindex Medical Limited
Chindex Medical Limited, a joint venture between Fosun Pharma and Chindex International, Inc., is dedicated to bringing the world's leading-edge healthcare technologies and products to China through its national distribution infrastructure, while developing and manufacturing quality healthcare devices and consumables in China to serve the global marketplace. Chindex Medical provides comprehensive distribution services including product registration, sales and marketing, clinical applications support and training, and technical service to numerous major multinational manufacturers of medical products. It has particular expertise in successfully introducing novel and paradigm-changing technologies to China's healthcare marketplace, as well as in helping Chinese hospitals to access foreign-government sponsored financing in the form of loans and loan guarantees from the U.S. Export-Import Bank and the German KfW Development Bank. With over 30 years of distribution experience and over 15 years of manufacturing experience, Chindex Medical's vision is to become a global leader in the healthcare market.
About Sensus Healthcare
Sensus Healthcare, Inc. is a medical device company that is committed to providing non-invasive and cost-effective treatment options for non-melanoma skin cancers and keloids. Sensus uses a proprietary low energy X-ray technology known as superficial radiation (SRT), which is a result of over a decade of dedicated research and development. Sensus has successfully incorporated SRT therapy into its portfolio of treatment devices, the SRT-100(TM) and SRT-100 Vision(TM). To date, SRT technology has been used to effectively and safely treat oncological and non-oncological skin conditions in thousands of patients. For more information, visit www.sensushealthcare.com.
Forward-Looking Statements
This press release includes statements that are, or may be deemed, ''forward-looking statements.'' In some cases, these forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should," "approximately," "potential" or, in each case, their negative or other variations thereon or comparable terminology, although not all forward-looking statements contain these words.
By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics, and healthcare, regulatory and scientific developments and depend on the economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate may differ materially from the forward looking statements contained in this press release, as a result of, among other factors: our ability to achieve and sustain profitability; market acceptance of the SRT-100 product line; our ability to successfully commercialize our products, including the SRT-100; our ability to compete effectively in selling our products and services, including responding to technological change and cost containment efforts of our customers; our need and ability to obtain additional financing in the future, as well as complying with the restrictions our existing revolving credit facility imposes; our ability to expand, manage and maintain our direct sales and marketing organizations; our actual financial results may vary significantly from forecasts and from period to period; our ability to successfully develop new products, improve or enhance existing products or acquire complementary products, technologies, services or businesses; our ability to obtain and maintain intellectual property of sufficient scope to adequately protect our products, including the SRT-100, and our ability to avoid infringing or otherwise violating the intellectual property rights of third parties; market risks regarding consolidation in the healthcare industry; the willingness of healthcare providers to purchase our products if coverage, reimbursement and pricing from third party payors for procedures using our products significantly declines; the level and availability of government and third party payor reimbursement for clinical procedures using our products; our ability to effectively manage our anticipated growth, including hiring and retaining qualified personnel; the regulatory requirements applicable to us and our competitors; our ability to manufacture our products to meet demand; our reliance on third party manufacturers and sole- or single-source suppliers; our ability to reduce the per unit manufacturing cost of the SRT-100; our ability to efficiently manage our manufacturing processes; the regulatory and legal risks, and certain operating risks, that our international operations subject us to; off label use of our products; the fact that product quality issues or product defects may harm our business; the accuracy of our financial statements and accounting estimates, including allowances for accounts receivable and inventory obsolescence; any product liability claims; limited trading in our shares and the concentration of ownership of our shares; cyberattacks and other data breaches and the adverse effect on our reputation; new legislation, administrative rules, or executive orders, including those that impact taxes and international trade regulation; the provisions in our certificate of incorporation, bylaws, or Delaware law that discourage takeovers or that limit certain disputes to be brought exclusively in the Delaware Court of Chancery; geographic concentration of our customers in the U.S. and China; and other risks described from time to time in Sensus Healthcare's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2016.
In addition, even if our results of operations, financial condition and liquidity, and the development of the industry in which we operate are consistent with the forward-looking statements contained in this press release, they may not be predictive of results or developments in future periods. Any forward-looking statements that we make in this press release speak only as of the date of such statement, and we undertake no obligation to update such statements to reflect events or circumstances after the date of this press release. You should read carefully our "Cautionary Note Regarding Forward-Looking Information" and the factors described in the "Risk Factors" section of our periodic reports filed with the Securities and Exchange Commission to better understand the risks and uncertainties inherent in our business.
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LHA Investor Relations
Kim Sutton Golodetz
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kgolodetz@lhai.com
SOURCE Sensus Healthcare, Inc.
