Modavox (MDVX) Says It successfully Exhibited DenerveX System During EuroSpine Tradeshow

October 13, 2016 9:24 AM EDT
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Medovex Corp. (NASDAQ: MDVX), a developer of medical technology products, today announced that the Company successfully exhibited its' DenerveX™ System during EuroSpine 2016 Tradeshow last week in Berlin, Germany.

As part of the product exhibition, Medovex highlighted its innovative DenerveX™ System, a minimally invasive surgical (MIS) procedure pioneered by Medovex that was built around the denervation of the posterior capsulectomy of the Facet Joint using our patented Rotablation™ technology which is "A significant paradigm shift in the treatment of Facet Joint pain."

Patrick Kullmann, President and COO for Medovex, stated, "We consider EuroSpine 2016 in Berlin our 'pre-launch' meeting leading up to what is expected to be an eventual formal CE Marking. In particular, we were very pleased to see visiting surgeons and distributors from more than 25 countries, and from all continents, at our booth, along with existing and new potential distributors visiting with us."

Kullmann continued, "Importantly, we conducted meetings and demonstrations with at least six potentially strategic companies that could open the door to future collaboration for distribution, investment, co-future development of future generations of the technology or even potential acquisition. Many of the spine surgeons and pain relief physicians visiting the booth stated that the DenerveX Design is very elegant, and represents a very new and creative approach in treating pain associated with the Facet Joint Syndrome. Their clear appreciation for our different approach in performing a new procedure by way of a posterior capsulectomy of the facet joint, compared to the less effective standard radio frequency ablation (Rhizotomy), gives us cause for continued cautious optimism going forward."

During EuroSpine 2016, Medovex also announced the official opening of the Company's European Distribution Center in Berlin.

The Center will serve as Medovex's European distribution service headquarters and function as the commercial hub for all European distributors, as well as other customer and technical support functions. The international operations center in Atlanta, GA (USA) will remain the Company's global operational headquarters.

Manfred Sablowski, Senior Vice President of Global Sales & Marketing, added, "The opening of the European distribution service center is an important milestone for Medovex and a key inflection point for our Company's strategy to grow our business in Europe, Middle Eastern and Africa regions. In the past months, we have additionally expanded our footprint to include all of Scandinavia and Israel. Our future goal is to increase our world-class EMEA distribution in other key countries. With the recent appointment of Juan Davila as Director Sales & Marketing for Latin America, having extensive experience in this market, we expect to continue to execute our go to market strategy."

The DenerveX System consists of the DenerveX device, a single use medical device and the DenerveX Pro-40 Power Generator, both designed to be less invasive with faster recovery time than current surgical treatment options. It consists of two procedures combined into one device and is expected to provide for a longer lasting treatment solution while offering potential savings to the health care system. DenerveX is not yet commercially available.

DenerveX system is not yet CE marked or FDA cleared and is not yet commercially available.

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