PLC Systems (PLC) Sees Effect From Edwards Lifesciences (EW) Decision to Discontinue Sales of Optiwave 980 Cardiac Laser Ablation System
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PLC Systems Inc. (Amex: PLC) announced that Edwards Lifesciences Corporation (NYSE: EW) has announced that it is discontinuing its sales activity with respect to the Optiwave 980 Cardiac Laser Ablation System to pursue other areas of strategic importance.
PLC manufactures the Optiwave 980 laser under a supply agreement with Edwards signed in March 2006. In the first three quarters of 2006, PLC recorded approximately $20,000 in sales from Optiwave 980 laser systems, along with approximately $12,000 in royalty payments on sales of Optiwave 980 disposables, or less than five percent of the Company's total revenues in the first nine months of 2006. PLC does not anticipate significant sales or royalty payments from Optiwave 980 in the future, in light of Edwards' decision.
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