BSD-2000 image courtesy of Pyrexar Medical
March 15, 2016 — Pyrexar announced it has purchased back outside ownership from Person Medical (formerly BSD Medical), concluding a purchase agreement made by the two companies in 2015.
In the original agreement, Pyrexar purchased the hyperthermia device group from Person. In exchange, Person Medical acquired 19.9 percent of Pyrexar, along with royalties on future sales of the BSD-2000 Hyperthermia System, Pyrexar’s flagship product. The royalties were valued at an estimated $4 million over the next three years.
Pyrexar announced several other business developments, including:
- New distribution — The company added nine new international distribution companies, with several more in negotiation to bring sales coverage to 31 countries;
- Revamped manufacturing workflow — The company increased the speed of its manufacturing process by 600 percent;
- Regulatory process — The company added Taiwan Food and Drug Administration (TFDA), Korean FDA, TUV Rheinland and Restriction of Hazardous Substances Directive (RoHs) compliance to their process; and
- Engineering updates — Manufacturing processes are being re-engineered to be more efficient and cost effective. The company is also exploring new thermal therapy products.
For more information: www.pyrexar.com