Navilyst Medical Announces Global Debut Today
Former Boston Scientific Business Units Combine to Lead Fluid
Management and Vascular Access Markets
MARLBOROUGH, Mass. (Business Wire EON/PRWEB ) August 4, 2008 --
Navilyst Medical, formerly Boston Scientific’s
Fluid Management and Vascular Access businesses, today announced its new
company name following the February 2008 acquisition by Avista Capital
Partners, a private equity firm focused on growth-oriented healthcare,
energy and media companies.
“Navilyst Medical combines the best attributes
of an established medical device company—market-leading
technology, superior clinical data, experienced leadership and proven
worldwide sales and distribution capabilities. We maintain the singular
focus of a small, eager organization striving to improve patient care
while collaborating with clinicians in the global marketplace,”
said President Dave McClellan.
Navilyst Medical manufactures and markets a portfolio of fluid
management and vascular access products used during some of the most
frequent hospital procedures including angiography and angioplasty.
Navilyst Medical’s Fluid Management business,
including the proprietary NAMIC®
line of products enjoys a leading global market share. Navilyst Medical’s
vascular access products include devices designed to provide access to
the blood stream for patients requiring intravenous antibiotics,
nutrition, chemotherapy, blood sampling and hemodialysis. The company’s
PASV® Technology,
with strong clinical data, is uniquely designed to automatically close
after infusion, disconnection or aspiration, and remain closed during
normal pressure fluctuations, reducing the risk of complications
including catheter-related bloodstream infections.
“At Navilyst Medical we are exclusively
dedicated to designing, developing, manufacturing and marketing high
quality products that make it possible for lifesaving diagnostics,
interventions and drug delivery to occur every day,”
said Navilyst Medical’s McClellan. “We
will build upon a strong foundation and look forward to living up to our
new name by navigating change and being a catalyst for innovation.”
Navilyst Medical employs approximately 800 people, and is headquartered
in Marlborough, MA with an ISO-certified manufacturing plant in Glens
Falls, NY. Products are distributed in 76 countries and are sold direct
in the United States. The company is on track to launch several new
products into the global marketplace through internal development and
strategic alliances during the upcoming year.
“It is the company’s
strategic intent to become the first choice provider of medical devices
for vascular access, and the diagnosis and treatment of vascular
disease. This strong combination of product heritage and experienced
employees able to execute on this vision captured Avista’s
interest in the deal from the outset. By 2011 the company should look
very different than we do today—and that’s
exciting,” added Navilyst Medical CEO Ron
Sparks.
About Navilyst Medical
Navilyst Medical, headquartered in Marlborough, MA, was formed in
February 2008 from Boston Scientific’s Fluid
Management and Vascular Access business units. Its breakthrough
products, including the PASV®
Valve Technology, Xcela®
PICC and NAMIC®
Fluid Management devices, help hospitals create clinical and economic
solutions for their patients. The Company distributes its products
worldwide and has its lead U.S. manufacturing facility in Glens Falls,
NY. For more information, please visit: www.navilystmedical.com.
About Avista Capital Partners
Avista Capital Partners is a leading private equity firm with offices in
New York and Houston. Founded in 2005, Avista manages $2.0 billion in
private equity capital. Avista’s strategy is
to make controlling or influential minority investments primarily in
growth-oriented media, healthcare and energy companies. Through its team
of seasoned investment professionals and industry experts, Avista seeks
to invest in and add value to well-positioned businesses with
exceptional leadership. For more information, visit http://www.avistacap.com.
FORWARD-LOOKING STATEMENTS: This Release contains forward-looking
statements, including statements regarding development of Navilyst
Medical's existing and new products, the Company's progress toward
commercial growth, and future opportunities. The Company's actual
results may differ materially from those anticipated in these
forward-looking statements based upon a number of factors, including
uncertainties associated with development, testing and related
regulatory approvals, anticipated future losses, complex manufacturing,
high quality requirements, dependence on limited sources of supply,
competition, technological change, government regulation, future capital
needs and uncertainty of additional financing, and other risks and
challenges. Readers are cautioned not to place undue reliance on any
forward-looking statements, which speak only as of the date of this
Release. The Company undertakes no obligation to publicly release the
results of any revisions to these forward-looking statements that may be
made to reflect events or circumstances that occur after the date of
this Release or to reflect the occurrence of unanticipated events.
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