Under the agreement, the Cryocare Systems for each centre will either be purchased by BAMM or placed in the centre by Endocare in anticipation of future sales. BAMM has already purchased a number of systems. Founded in July of 1999, BAMM provides alternative methods to acquire expensive high-tech medical and surgical equipment by developing partnerships with physicians, hospitals, and insurers.
Today BAMM serves over 75 urologic surgeons at ten locations throughout New England. Last year BAMM's urology based technology helped to treat over 1000 patients. Current products include Transurethral Needle Ablation (TUNA) for prostate disease, Shock Wave Lithotripsy for renal and biliary stones, Shock Wave Therapy for podiatric and orthopaedic applications, Holmium Laser for endourologic applications, and Cryosurgery of the prostate and kidney.
The partnership creates a preferred distribution and marketing agreement between Endocare and BAMM. In addition to a complete Cryocare Surgical System, Endocare will also equip each Centre of Excellence with a FastPSA in-office laboratory. Additionally, Endocare will provide physician training, certification, technical and clinical support, along with assistance in marketing and hospital-to-payer reimbursement.
In addition to partnering on the marketing and billing issues, BAMM will provide technical support for each centre along with general oversight of their operations and assistance with the training and proctoring of physicians. Greg Mercurio Jr., Managing Partner of BAMM, stated: "Through the Centers of Excellence programme we can swiftly and efficiently integrate the Endocare product line into our rapidly expanding physician and hospital customer base."
The Cryocare Surgical System is used to perform cryosurgery, a minimally invasive procedure which uses extreme cold temperatures to freeze and destroy cancerous cells. Patients who undergo cryosurgery typically can return to daily activities within a week. An advanced form of cryosurgery developed by Endocare called targeted cryo-ablation combines cryosurgery with ultrasound and temperature monitoring, enabling physicians to visualise the freezing process and thereby improve safety and efficacy.
Endocare Chairman and CEO Paul Mikus commented: "The benefits of forming creative marketing alliances within the urology community are numerous and the formation of such partnerships will continue to be an important part of our business plan. Leveraging the regional relationships of an organisation such as BAMM brings efficiencies to our marketing process and enables us to manage and monitor the expanding use of cryo-ablation from a position much closer to the customer."
Endocare Inc. is a medical device company focused on the development of urological health care technologies with the potential to dramatically improve men's health and quality of life. Endocare has initially concentrated on developing devices for the treatment of the two most common diseases of the prostate: prostate cancer and benign prostate hyperplasia. Endocare also believes that its proprietary cryosurgical technologies have broad applications across a number of surgical markets, including treating tumours in the kidney, lung, breast, liver and bones, as well as treatment of cardiac arrhythmia.