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Bovie Medical Corporation Completes Manufacturing and Distribution Agreements With Canady Technology

Posted on: Monday, 4 June 2007, 09:00 CDT

Bovie Medical Corporation (the "Company") (Amex: BVX), a manufacturer and marketer of electrosurgical products, today announced that it has entered into distribution and manufacturing agreements with Canady Technology, LLC for its plasma related products. Bovie will manufacture several types of argon plasma accessories for Canady Technology as well as distribute Canady products worldwide.

The founder of Canady Technology, Dr. Jerome Canady, who holds several plasma related patents, is recognized as a clinical expert in plasma technology and is the Director of the Institute for Advanced Biological Technical Sciences in Hampton, Virginia. Dr. Canady will also assist in the clinical development of Bovie's J-Plasma technology, which will be co-labeled and marketed alongside the Canady Technology products upon eventual submission and clearance by the FDA.

Commenting on the agreements, Dr. Canady said, "Bovie is a recognized name in electrosurgery and Canady Technology is a leader in medical applications for plasma; blending the two organizations through these agreements, could result in a powerful combination for new technologies and market potential."

Andrew Makrides, president of Bovie Medical, added, "Under Dr. Canady's leadership, Canady Technology has been at the forefront in the use of plasma in the medical industry, and we look forward to partnering with Dr. Canady in what should be a mutually beneficial long term relationship."

About Canady Technology, LLC -- Canady Technology is a private medical technology, research and development corporation located in McKeesport, PA. and Hampton,VA. Its focus is developing advanced, innovative, high quality biomedical devices using plasma technology. The Company was founded by Jerome Canady, M.D. who is chairman of the board and chief executive officer. Dr. Canady is a transplant surgeon who completed his transplant fellowship at Yale University School of Medicine/Yale New Haven Hospital and the University Of Pittsburgh Medical Center, Thomas E. Starzl Transplantation Institute. He is certified by the American Society of Transplant Surgeons and the American Board of Surgery. In May 1993, Dr. Canady received a US patent for a surgical coagulator device patent #5,207,675 and in 1999; the European patent office issued the corresponding patent. Dr. Canady was the first to demonstrate the utilization of tissue coagulation by argon plasma coagulation via flexible endoscopes.

This document may contain some forward looking statements, particularly regarding operational prospects in 2007 and beyond, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risks are listed from time to time in the Company's SEC filings.

Source: Business Wire

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