POWER MEDICAL INTERVENTIONS INC. IS FUNDED BY KOCH GENESIS, LLC

Company has invested in an innovative medical device company developing minimally invasive surgical equipment and techniques.

WICHITA, KS (PRWEB) August 22, 2003 --- Koch Genesis, LLC has invested in Power Medical Interventions, Inc., a company it expects to make a step-change in the way minimally invasive surgery is practiced in the future, said Tim Cesarek, president of Koch Genesis.

Power Medical Interventions has an excellent track record of designing medical devices that are true disruptive innovations to current minimally invasive surgical equipment and techniques," Cesarek said. The net effect is lower healthcare costs from shorter hospital stays."

Koch Genesis, a subsidiary of Koch Industries, Inc., is focused on identifying entrepreneurs who have ideas and business opportunities that will create new markets while shaping the future of their respective industries. The PMI investment is Koch Genesis initial funding of a venture.

Power Medical, founded in 2000, designs, develops and markets computer-mediated wound-closure products. The companys SurgASSIST System is the worlds first computer-mediated surgical device, being used in bariatric, colon, rectal and thoracic procedures. To date, more than 16,000 procedures in over 200 hospitals around the world have been performed. The device combines computer-mediated technology with minimally invasive surgical techniques, creating a surgical instrumentation platform with numerous benefits for surgeons, patients, hospitals and healthcare networks.

"We are extremely pleased to have Koch Genesis as a strategic investor," said Michael Whitman, chief executive officer of PMI. "Our technology is a radical departure from traditional mechanical hand-operated devices and offers patient care advances as well as the potential for reduced healthcare costs."

SurgASSIST is also environmentally friendly, eliminating the bulk of medical waste produced by existing technologies, Whitman said.

Koch Genesis offers capital, as well as core capabilities and principles that have contributed to the success of Koch Industries for more than 40 years," Cesarek said.

Attracting the backing of this premier investor and established business leader further confirms the attractiveness of our technology and our unique business focus and approach," Whitman said. We believe with Koch Genesis as an investor we will be able to expand our business and continue our rapid growth."

About Koch Genesis
Koch Genesis, based in Wichita, Kan., makes early-stage investments with entrepreneurs who have business opportunities that will make a step-change in products, processes and services. The company is a subsidiary of Koch Industries, Inc., which owns a diverse group of companies engaged in trading, investments and operations around the world. For more information, see www.kochgenesis.com or www.kochind.com.

About Power Medical Interventions, Inc.
Headquartered in New Hope, Penn., Power Medical Interventions, Inc. designs, develops and manufactures technically advanced medical devices. It has been named as one of the fastest-growing privately held firms in the Philadelphia region by the Wharton School of Business, as a result of its impressive rate of growth from 2000 to 2002. For more information, see www.pmi2.com.

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