Lou Scafuri, Chief Executive Officer of Syneron, commented, “We are very pleased to successfully complete the merger with Candela, representing the execution of our strategy to expand our product portfolio with synergistic and innovative technologies. The combination of Candela and Syneron creates the largest aesthetic medical device company, with an unparalleled global distribution footprint and a balanced mix of core and non-core physician customers that vastly enhances our competitive position. We believe there is tremendous opportunity to drive long-term growth and market leadership over the next several years.”

Scafuri continued, “We are fortunate to have Gerard E. Puorro, Chief Executive Officer of Candela join our Board of Directors and to have other key executives from Candela join our management team as we collaboratively work to position Syneron as the global leader in the aesthetic device sector.”

Fabian Tenenbaum, Syneron’s Chief Financial Officer, noted, “As we enter the initial post-merger period we will focus on achieving cost savings through synergies and reduced operating expenses at both companies. We believe these cost saving programs, which are already in place, will position the company to be profitable and the transaction to be accretive to earnings as the global economic environment strengthens. We are especially pleased with the enhancement the merger provides to our business model, where we expect to increase recurring revenue as we grow sales derived from consumables and ongoing services. With no debt and a robust cash position, we have significant financial strength that advantageously positions us to continue investing in our long-term growth.”

Syneron will issue approximately 6.7 million shares to acquire Candela. Upon completion of the transaction, Syneron shareholders will own approximately 80 percent of the combined company and Candela shareholders will own approximately 20 percent.

Syneron will maintain its corporate headquarters in Israel and North American office in Irvine, CA. Candela will continue to operate as a wholly-owned subsidiary of Syneron and maintain its offices in Wayland, MA, as well as subsidiary operations in Australia, France, Germany, Italy, Japan, Portugal, Spain and the United Kingdom. Candela has applied to delist its shares from NASDAQ.

Advisors

In connection with the transaction, Leerink Swann LLC is acting as exclusive financial advisor to Syneron, with Gross, Kleinhendler, Hodak, Halevy, Greenberg & Co. and Morrison & Foerster LLP serving as its legal counsel. Houlihan Lokey is acting as exclusive financial advisor to Candela, and Goodwin Procter LLP as legal counsel.

About Syneron Medical Ltd.

Syneron Medical Ltd. (NASDAQ: ELOS) is the leading global aesthetic device company with a comprehensive product portfolio and a global distribution footprint. The Company’s technology enable physicians to provide advanced solutions for a broad range of medical-aesthetic applications including body contouring, hair removal, wrinkle reduction, rejuvenation of the skin’s appearance through the treatment of superficial benign vascular and pigmented lesions, and the treatment of acne, leg veins and cellulite.

Syneron Contacts:
Fabian Tenenbaum
Chief Financial Officer
+ 972 73 244 2283

Judith Kleinman
VP Investor Relations
+972 54 646 1688

Tegra Medical Unveils GENESIS Tech Center to Reduce Time to Market

Tegra Medical announced the formal opening of the GENESIS Tech Center (GTC), an 18,000 sq. ft. of refurbished space at Tegra’s new headquarters in Franklin, MA.    The GTC will address the medical device industry’s need for speed,  the GTC will be focused exclusively on assisting customers with their product development needs, specifically: inventory of commonly used raw materials for minimally invasive surgical and interventional products, design for manufacturability, prototyping and pilot production. Within the GENESIS Tech Center, there are three distinct offerings:

• Quick Wire & Tube: Inventory of the most commonly used wire and hypodermic tubing. Secondary processes are available with shipment in 3 days or less typically.
• Rapid Response Operation: Component and assembly fabrication in less than 2 weeks, just days in many cases, using laser processing, EDM, and a full assortment of conventional and CNC machining.
• Engineered Solutions: A team of experienced manufacturing engineers and project managers to tackle tough manufacturing challenges through DFM and innovative process development.

Tom Burns

“The GENESIS Tech Center is the answer to feedback we’ve heard consistently over the years,” said Tom Burns, V.P. Business Development. “Lots of suppliers talk about supporting product launches, but Tegra Medical is backing it up with some of our best talent, significant infrastructure and a culture intent upon solving customer problems fast. The GTC will be a stand-alone entity to avoid the conflicts inherent in trying to share resources with regular production operations.”

Tegra serves the following markets:

Orthopaedics

• Arthroscopic drivers
• Shavers
• Cannulae
• Burrs
• Stylets
• Knot pushers
• Spinal minimally invasive surgery instruments
• Interventional spine accessories
• K wires

Minimally Invasive Surgery

• Breast Biopsy systems
• Bariatric surgery
• Laparoscopic devices
• Endoscopic devices

Interventional Therapies

• Suturing device components
• Clip applier components
• Guide wires
• Introducers
• Mandrels

Drug Delivery

• Diabetes therapy
• Pain management
• Huber needles
• Epidural needles
• Spinal needles

Other Medical Specialties

• Ophthalmology needles
• Dental instruments

According to Flowcardia:

A Chronic Total Occlusion (CTO) is defined as an artery that has been completely occluded for greater than 30 days. Chronically occluded arteries account for approximately 20-30% of the documented coronary disease encountered in coronary catheterization labs today; CTOs are encountered in up to 60% of peripheral interventions. Currently there are four methods for treatment of CTO’s: percutaneous intervention, bypass surgery, amputation of lower extremities, and medical management. A large majority of CTOs are managed by surgical means or medications alone; a relatively small percent of CTO cases are managed by percutaneous intervention.

Medical therapy (e.g., nitrates, calcium, and beta blockers) is partially efficacious, but rarely completely eliminates either the symptoms or the objective evidence of the ischemia. Bypass Surgery is effective so long as the distal target vessel is anatomically suitable for insertion of a bypass graft. The limitations of the bypass surgery are well known and include significant patient morbidity, risk of surgical mortality, and significant expense. Approximately 10% of chronically occluded lower extremity patients require amputation after revascularization has failed or cannot be achieved using conventional therapies.

The third option is percutaneous intervention. This minimally invasive, less costly procedure accounts for approximately 10% of coronary intervention cases. Percutaneous intervention is accomplished by using conventional guidewire techniques to slowly ‘poke’ and ‘prod’ through the occlusion. This procedure is successful 30-90% of the time depending on the operator skill and case selection criteria. The time spent to recanalize a chronic total occlusion is estimated to be between 5 minutes and several hours with an average time of about 30 minutes.

This standard procedure can often be associated with dissection and perforation of the vessel as the guidewire is extensively manipulated within the vasculature. It is estimated that dissection occurs in 15% of the cases as the guidewire is often navigated through a ‘false’ lumen. Perforation occurs in approximately 1-2% of the cases.

Successful recanalization typically results in improvement of clinical symptoms, normalization of a positive exercise test, and significant reduction in the need for bypass surgery.

In 2009, Covidien moved up from the number two position to take the #1 spot in rankings for the first time, driven by a 50% increase in Technology Strength™, an overall assessment of a company’s intellectual property quality and quantity, and a 27% increase in Industry Impact™, the extent to which others are building on Covidien’s portfolio of U.S. patents. Covidien first appeared on the Patent Scorecard in 2007, the year that it became an independent company, and ranked #4 on the Scorecard that year.

“Covidien’s continued dedication to the innovation process is reflected in our achieving this prestigious number one ranking. It underscores the depth of our intellectual capital and our collaborative approach to intellectual property development,” said Joe Almeida, President, Medical Devices, Covidien.

Covidien led the industry in Technology Strength – a key indicator that is the basis of The Patent Board’s Patent Scorecard rankings. Covidien also showed significant gains in other ranking measures, including Industry Impact and Science Strength™. The Science Strength indicator shows a company’s overall reliance on scientific research in its patenting activity.

“Covidien’s performance was exceptional. The company demonstrated a substantial advance in Science Strength, increasing its score by 80% since the previous Patent Scorecard,” said Christine Wren, Director of External Communications, The Patent Board.

Covidien has a strong science-linked patent presence in all four of its segments — Medical Devices, Imaging Solutions, Pharmaceutical Products and Medical Supplies — and will continue to strengthen its technology development efforts. Covidien’s businesses work together to turn Covidien’s technology advances into patents and other valuable IP assets for the Company.

Covidien Products and Services include:

• Autosuture:  Surgical Stapling and Laparoscopic Instrumentation Solutions
• Devon:  Operating Room Products and Safety Solutions
• Kendall:  Clinical Care, SharpSafety, Vascular Therapy, Nursing Care, Monitoring & Operating Room Products, OEM Products
• Mallinckrodt Pharmaceutical: Addiction Treatment, Brand and Generic Pharmaceuticals, Active Pharmaceutical Ingredients.
• Imaging: Contrast Agents and Delivery Systems, Radiopharmaceuticals
• Nellcor:  Pulse Oximetry, Airway and Temperature Management, Critical Care Accessories
• Puritan Bennett:  Ventilators, Oxygen Systems, Sleep Therapy and Diagnostics, Spirometry, Hospital Software Solutions
• Syneture:  Sutures, Suture Needles, Surgical Accessories, Cardiovascular Devices
• Valleylab:  Vessel Sealing, Electrosurgery, RF Ablation, RF Pain Management

ABOUT COVIDIEN

Covidien is a leading global healthcare products company that creates innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence. Covidien manufactures, distributes and services a diverse range of industry-leading product lines in four segments: Medical Devices, Imaging Solutions, Pharmaceutical Products and Medical Supplies. With 2008 revenue of nearly $10 billion, Covidien has more than 41,000 employees worldwide in 59 countries, and its products are sold in over 140 countries. Please visit www.covidien.com to learn more about our business.

Covidien
Eric Kraus, 508-261-8305
Senior Vice President,
Communications
eric.kraus@covidien.com

Coleman Lannum, CFA, 508-452-4343
Vice President
Investor Relations
cole.lannum@covidien.com

Bruce Farmer, 508-452-4372
Vice President
Public Relations
bruce.farmer@covidien.com

Brian Nameth, 508-452-4363
Director
Investor Relations

The Massachusetts Medical Device Development Center (M2D2) reports it has given funding to four medical device ideas — three of them based out of local hospitals.

Researchers behind the devices received about $50,000 from M2D2, including product prototyping, marketing and business planning assistance, and assistance from the University of Massachusetts Medical School in Worcester. Aura Medsystems Inc., a startup receiving one of the grants, will also move into M2D2’s incubator space in the Wannalancit Mill building on the UMass Lowell campus.

The following devices received funding:

• Photochemical tissue bonding; Robert Redmond of Aura Medsystems Inc. Duxbury; led by Robert Redmond
• Self-assembling magnetic system via endoscopic needle (SAMSEN); Padraig Cantillon-Murphy of Needham, affiliated with Brigham and Women’s Hospital
• Handheld safety suturing device; W. Travis Lau of Medford, affiliated with Tufts Medical Center
• I.V. oxygen using injectable microbubbles; John Kheir of Children’s Hospital Boston

The EN Snare® foreign body retrieval device, developed in conjunction with Phase One Medical, incorporates proprietary technology and design elements that improve upon the overall utility, accuracy and simplicity of foreign body retrieval. EN Snare® has successfully addressed the needs of physicians performing complex endovascular procedures in the peripheral vascular system and hollow viscous since its introduction in 2002.

John Kaufman, M.D., the Frederick S. Keller Professor of Interventional Radiology at the Dotter Interventional Institute, Oregon Health Sciences University, who performed the initial studies on EN Snare®, commented, “The EN Snare® has been one of the most important new foreign body retrieval devices in over a decade. During our clinical usage, the device has continued to demonstrate great utility in a variety of endovascular applications. The unique forward-looking multi-loop design provides secure engagement in both routine and challenging procedures.”

Paul Gianneschi, Managing Principal and Founder of Hatch Medical, L.L.C. added, “We are very pleased to be working with Merit Medical through this transition, and believe they are ideally positioned to advance this technology in the market and maximize its potential.”

Founded in 2000, Hatch Medical jointly develops and brokers minimally invasive medical devices for the diagnosis and treatment of vascular and oncological disease through its network of risk-sharing partners.