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EXHIBIT 99.1
[DEXTERITY SURGICAL, INC. LETTERHEAD]
FOR: DEXTERITY SURGICAL, INC.
NASDAQ: DEXT
CONTACT: Randall K. Boatright
Executive Vice President and Chief Financial Officer
(210) 495-8787
Email: [email protected]
FOR IMMEDIATE RELEASE
DEXTERITY SIGNS EXCLUSIVE DISTRIBUTION AGREEMENT WITH WECK
CLOSURE SYSTEMS(R) FOR PNEUMOSLEEVE(R) AND PROTRACTOR(R)
SAN ANTONIO, Texas (June 29, 2000) --- Dexterity Surgical, Inc. (NASDAQ:DEXT),
announced today that it has signed an agreement under which Weck Closure
Systems (WCS) will distribute Dexterity Surgical's PneumoSleeve(R) and
Protractor(R) products in the United States. The agreement also covers
international distribution, except in those areas for which Dexterity has
signed previous exclusive sales and distribution agreements still in effect.
Weck Closure Systems and Dexterity Surgical will continue as separate business
entities.
Under the terms of the agreement, WCS, a unit of Teleflex Incorporated (NYSE,
TFX) and Dexterity Surgical will combine elements of both sales forces under
the umbrella of WCS. "The resulting organization will be predominantly
exclusive, direct representatives," according to Tom McManus, Vice President of
sales for WCS.
Richard Woodfield, President and CEO of Dexterity Surgical Inc., stated, "This
agreement is a progressive move for Dexterity for several reasons. It allows
Dexterity to utilize the scope and power of an established, successful
worldwide sales force complimented by outstanding marketing synergies.
Weck's dominant sales force calls on surgeons of many specialties, specifically
laparoscopic surgery, precisely the target market for our proprietary products
the Pneumosleeve(R) and Protractor(R). Also, the Weck distribution agreement,
combined with our reduced spending levels, will be the major catalyst in
achieving profitability."
Weck Closure Systems(R) President Stephen Holmes further stated, "We are
pleased to have the Pneumosleeve(R) and Protractor(R) as part of our product
line, as they are perfect additions to our established dominance in ligation
products for surgery. He added, " This is an extremely synergistic combination
of sales resources and procedural focus. It couldn't be more timely, for both
product lines."
DEXTERITY SURGICAL, INC. IS A LEADING DESIGNER, DEVELOPER AND DISTRIBUTOR OF
DISPOSABLE AND REUSABLE DEVICES TARGETING THE MINIMALLY INVASIVE SURGICAL
MARKETPLACE. THE COMPANY'S GOAL IS TO PROVIDE FOCUSED SEGMENTS OF THE MINIMALLY
INVASIVE SURGICAL MARKETPLACE WITH PRODUCTS THAT ENHANCE PATIENT OUTCOME,
INCREASE SURGICAL FLEXIBILITY AND REDUCE HEALTH CARE COSTS.
WECK CLOSURE SYSTEMS (WCS) IS THE LEADER IN MANUAL LIGATING CLIPS. THE WCS
POSITION ENCOMPASSES SEVERAL METAL LIGATING CLIP LINES-HORIZON(R), HEMOCLIP
PLUS, HEMOCLIP(R) TRADITIONAL AND ATRAUCLIP(R). WCS ALSO MANUFACTURES A LEADING
SKIN STAPLER, TRADEMARKED VISISTAT(R), AS WELL AS OTHER WOUND CLOSURE AND
RETRACTION PRODUCTS.
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Certain statements contained herein are "forward-looking" statements
(as such term is defined in the Private Securities Litigation Reform Act of
1995). Because such statements include risks and uncertainties, actual results
may differ materially from those expressed or implied by such forward-looking
statements. Factors that could cause actual results to differ materially from
those expressed or implied by such forward-looking statements include, but are
not limited to, those discussed in the Company's Registration Statement on Form
S-3 filed on October 30, 1998, and the Company's annual and quarterly reports
filed with the Securities and Exchange Commission.
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