LANGHORNE, Pa., June 26, 2008 (PRIME NEWSWIRE) -- Power Medical Interventions(r), Inc. (Nasdaq:PMII), a leader in developing and commercializing Intelligent Surgical Instruments(tm), announced today that it has launched the iDrive S (straight shaft). The introduction of the iDrive S provides surgeons an additional choice within the iDrive series.
Michael Whitman, President and Chief Executive Officer commented, "The iDrive S is the latest addition to our expanding family of Intelligent Surgical Instruments and the first of several new instruments that we expect to release over the next several months. We expect that the iDrive S will be utilized most frequently in colon and rectal surgery for deep pelvic transection, but it is equally enabling in thoracic, general, and bariatric surgery. PMI is committed to continuing to develop our line extension of our Intelligent Surgical Instruments for use in both open and laparoscopic surgery. Other Intelligent Surgical Instruments are being developed for use in the emerging field of Natural Orifice Translumenal Endoscopic Surgery (NOTES(tm)). We continue to be committed to and are very excited about the prospects of our proprietary technology."
The iDrive series of devices are reusable, self-contained, hand-held units, with shafts in various straight and curved configurations. They can be used to power and control PMI's existing suite of Digital Loading Units(tm) including linear cutter, right-angle linear cutter, and circular staplers. The iDrive C (curved shaft) device was introduced in December 2007. Both iDrives are cleared for a broad range of applications in open and endoscopic surgery. These instruments have indications for gastrointestinal, gynecological, general abdominal, thoracic and vascular surgical procedures for resection, transection, creation of anastomoses and for open surgical occlusion of the heart's left atrial appendage.
The iDrive series is the latest addition to the Intelligent Surgical Instruments family and follows the previously launched i60, our 60 mm articulating endoscopic linear cutter. These next generation products are controlled by direct-drive motors, motor-control circuits and clinician-feedback technology that have been miniaturized and integrated into a self-contained, hand-held unit. These instruments are operated with digital controls located in the handle and are powered by proprietary lithium ion batteries and therefore, do not require an AC power source.
At the push of a button, the iDrive S can effect a sequence of steps under software control that enables linear cutter, right-angle or circular staplers to be deployed with precision and control while maintaining stability at the surgical site. The iDrive is reusable and autoclavable and can operate a variety of Digital Loading Units(tm), all offering the benefits of computer-mediated stapling.
PMI's Intelligent Surgical Instruments(tm) are computer-assisted, power-actuated endomechanical instruments that surgeons use for cutting, stapling and tissue manipulation in a variety of procedures in open surgery and minimally invasive surgery. Compared to conventional endomechanical devices, PMI believes that its Intelligent Surgical Instruments offer greater precision and consistency, superior compressive force, improved access to anatomical sites and enhanced ease of use. PMI's Intelligent Surgical Instruments have been used in thousands of surgical procedures.
About Power Medical Interventions, Inc.:
Power Medical Interventions(r), Inc. is the world's only provider of computer-assisted, power-actuated surgical stapling products. PMI's Intelligent Surgical Instruments(tm) enable less invasive surgical techniques to benefit surgeons, patients, hospitals and healthcare networks. PMI manufactures durable recyclable technology to reduce medical waste and help keep the planet clean. The company was founded in 1999, and is headquartered in Langhorne, PA with additional offices in Germany, France, and Japan. To learn more about Power Medical Interventions, Inc. and its products, please visit www.pmi2.com.
Statements included in this press release, which are not historical in nature, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements relating to the future financial performance of the Company are subject to many factors including, but not limited to, the customer acceptance of the products in the market, the introduction of competitive products and product development, commercialization and technological difficulties, and other risks detailed in the Company's Securities and Exchange Commission filings, including the Company's Annual Report on Form 10-K for the year ended December 31, 2007 and its Quarterly Report on Form 10-Q for the three months ended March 31, 2008.
Such statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. When used in this press release the terms "anticipate," "believe," "estimate," "expect," "may," "objective," "plan," "possible," "potential," "project," "will" and similar expressions identify forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update any forward-looking statements, whether as a result of future events, new information or otherwise.