Medifocus acquires Prolieve business

Source：Medifocus Inc. Release Date：2012-06-27 445

Medical Equipment

$5-million purchase covers all assets of Boston Scientific’s devices for treatment of benign prostatic hyperplasia

TORONTO, Ontario and COLUMBIA, Maryland -- Medifocus Inc. said it has agreed to purchase of all of the assets of Boston Scientific Corporation’s Prolieve business, which sells devices for the treatment of Benign Prostatic Hyperplasia (BPH).

BPH is the enlargement of the male prostate gland which affects over 50% of men over the age of 50. Prolieve is a patent protected device utilizing a unique combination of microwave heating and dilation of the prostatic urethra to offer immediate relief of symptoms such as weak urinary stream and urgency caused by BPH.

Patients can be treated using Prolieve in over 250 urologic offices throughout the United States. In addition, treatment is available through a nationwide Prolieve Mobile Services operation with over 150 mobile locations.

The Prolieve technology was originally created and commercialized by the current Medifocus scientific and management teams. The total purchase price for this transaction is $5 million.

Medifocus will pay Boston Scientific Corporation $2.5 million upon closing of the transaction and the remainder will be paid in quarterly installments contingent upon the sales performance of the Prolieve business, up to a maximum amount of US $2.5 million. Closing of this transaction is expected to occur within 30 days and is subject to certain conditions, including approval of the TSX Venture Exchange.

The assets acquired by Medifocus include all Prolieve inventory, the Rocky Mountain Mobile Services mobile distribution assets, as well as the family of intellectual property associated with the Prolieve technology.Air Jordan VII 7.5 Ture Flight