MARIETTA, Ga., Oct. 6, 2003 (PRIMEZONE) -- HealthTronics Surgical Services, Inc. (Nasdaq:HTRN), a leading provider of minimally invasive urologic and orthopaedic services, today commented on purported shareholder class action lawsuits filed against the Company and certain of its officers and directors in the U.S. District Court for the Northern District of Georgia. The lawsuits generally allege violations of the federal securities laws relating to disclosures about the effectiveness of the Company's OssaTron(r) device, used in the treatment of plantar fasciitis.
Dr. Argil Wheelock, Chief Executive Officer of HealthTronics, commented, "The claims are without merit. The allegations in the lawsuits are based on the clinical trial data reviewed by the FDA in their approval of the OssaTron device. We firmly stand behind the results of our clinical trial. As previously disclosed, we have treated as of the end of the second quarter of 2003 a cumulative total of approximately 12,000 patients with the OssaTron, with very low re-treatment rates. We also continue to sign additional contracts with insurance companies for coverage of treatment with the OssaTron. We will vigorously defend against these claims."
About HealthTronics Surgical Services
HealthTronics Surgical Services, Inc. is one of the nation's leading providers of non-invasive and minimally invasive surgical services for certain urologic and orthopaedic conditions. The company provides technical and administrative services to physicians, hospitals and ambulatory surgery centers using extracorporeal shock wave devices. The two primary services offered by the company are lithotripsy extracorporeal shock wave treatment, which is a procedure for treating kidney stones in a non-invasive manner, and Orthotripsy(r) extracorporeal shock wave treatment, which is a procedure for treating orthopaedic soft tissue disorders in a non-invasive manner. The Company has operations in approximately 45 states in the U.S. More information about HealthTronics Surgical Services can be found at the Company's website, www.healthtronics.com.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties or other factors which may cause actual results, performance or achievements of HealthTronics Surgical Services to be materially different from any future results, performance or achievements express or implied by such forward-looking statements. Factors that might cause such a difference, include, but are not limited to those discussed in the Management's Discussion and Analysis of Financial Condition and Results of Operations in the Company's Annual Report on Form 10-K for the year ended December 31, 2002, and in subsequent documents filed by HealthTronics Surgical Services with the Securities and Exchange Commission.