Encision Signs Supply Agreement with Auris Health, Inc.
Encision Inc. (PK:ECIA), a medical device firm specializing in Active Electrode Monitoring (AEM®) Technology, announced a three-year Supply Agreement with Auris Health, part of Johnson & Johnson Medical Devices. Under this exclusive agreement, Auris will purchase AEM® Technology enabled products from Encision, providing an upfront payment and milestone payments based on sales performance. CEO Gregory J. Trudel emphasized the partnership aims to enhance patient safety in robotic surgery. Encision focuses on innovative surgical instrumentation to improve safety and efficiency during minimally invasive procedures.
- Three-year exclusive Supply Agreement with Auris Health enhances potential revenue stream.
- Upfront and milestone payments bolster financial position.
- Partnership aims to improve patient safety in robotic surgeries.
- Reliance on a single agreement increases vulnerability to market risks.
- Potential risks in achieving sales milestones could impact revenue.
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BOULDER, Colo., Aug. 24, 2021 /PRNewswire/ -- Encision Inc. (PK:ECIA), a medical device company owning patented Active Electrode Monitoring (AEM®) Technology that prevents dangerous stray electrosurgical burns in minimally invasive surgery, today announced that Encision has signed a Supply Agreement ("Agreement") with Auris Health, Inc. ("Auris"), part of the Johnson & Johnson Medical Devices Companies.
The Agreement will have an initial term of three years. During the term, Auris has agreed to buy certain AEM® Technology enabled products exclusively from Encision. Encision will receive an upfront payment and upon achieving certain milestones, a milestone payment in addition to revenues from proprietary product sales to Auris per the terms of the Agreement.
"We are happy to be teaming up with Auris to drive new levels of patient safety in robotic surgery. Encision's Active Electrode Monitoring is a proprietary and differentiating technology that shields patients and practitioners from radiant energy injuries during standard and robotic laparoscopic surgeries. We welcome this next phase to our relationship," said Gregory J. Trudel, President and CEO of Encision.
Encision Inc. designs and markets a portfolio of high-performance surgical instrumentation that delivers advances in patient safety with AEM Technology, surgical performance, and value to hospitals across a broad range of minimally invasive surgical procedures. Based in Boulder, Colorado, the company pioneered the development and deployment of Active Electrode Monitoring, AEM technology, to eliminate dangerous stray energy burns during minimally invasive procedures. For additional information about all our products, please visit www.encision.com.
In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company notes that statements in this press release and elsewhere that look forward in time, which include everything other than historical information, involve risks and uncertainties that may cause actual results to differ materially from those indicated by the forward-looking statements. Factors that could cause the Company's actual results to differ materially include, among others, its ability to develop new or enhanced products and have such products accepted in the market, its ability to increase net sales through the Company's distribution channels, its ability to compete successfully against other manufacturers of surgical instruments, insufficient quantity of new account conversions, insufficient cash to fund operations, delay in developing new products and receiving FDA approval for such new products and other factors discussed in the Company's filings with the Securities and Exchange Commission. Readers are encouraged to review the risk factors and other disclosures appearing in the Company's Annual Report on Form 10-K for the year ended March 31 2021 and subsequent filings with the Securities and Exchange Commission. We do not undertake any obligation to update publicly any forward-looking statements, whether as a result of the receipt of new information, future events, or otherwise.
CONTACT: Mala Ray, Encision Inc., 303-444-2600, mray@encision.com
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SOURCE Encision Inc.
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