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EXHIBIT 99
ENDOCARE, INC.
00 XXXXXXXXXX XXXXX, XXXXX 000
XXXXXX, XXXXXXXXXX 00000
PHONE 714/000-0000
TOLL FREE 800/ENDOCARE
FAX 714/000-0000
BOSTON SCIENTIFIC AND ENDOCARE SIGN DISTRIBUTION AGREEMENT
FOR CRYOCARE PROSTATE TREATMENT PRODUCTS
XXXXXX, Xxxxx., Nov. 21/PRNewswire/ -- ENDOcare, Inc. (OTC:
ENDO), a leading innovator in the field of minimally invasive therapies
treating urologic diseases including prostate disease, today announced the
execution of an eight-year, exclusive distribution agreement with Boston
Scientific Corporation (NYSE: BSX) under which Boston Scientific will
distribute ENDOcare's CRYOcare Surgical System worldwide. Specific financial
terms of the agreement were not disclosed. However, the agreement includes an
initial license fee to ENDOcare, minimum purchase requirements and certain
purchase rights following Medicare reimbursement of the prostate procedure.
Cryosurgery is gaining wider acceptance as an alternative to
radical, conventional surgery. The CRYOcare Surgical System uses a proprietary
Argon gas-based technology to rapidly freeze and destroy targeted tissues
through a minimally invasive procedure. The portable system provides extremely
fast freezing times, precise control and is cost effective.
"This distribution agreement with Boston Scientific, one of
the premier medical device marketers worldwide, validates our belief in the
efficacy and superb quality of our CRYOcare Surgical System," said Xxxx X.
Xxxxx, chairman and chief executive officer of ENDOcare. "We have received FDA
clearance to market the CRYOcare-8 system and have applied for clearance for
the CRYOcare-2 system this quarter. With six FDA-cleared products currently
being marketed, we are pleased with our track record of taking innovative
products that fill a real medical need from concept to market introduction."
Xxxxx also noted that the CRYOcare Surgical System will continue to be
distributed in Canada by Mentor Medical Systems.
"The CRYOcare Surgical System is an important addition to our
line of therapeutic urologic products," said Xxxx X. XxXxxxxxxx, group
president, Non-vascular Business of Boston Scientific. "We are excited about
the opportunity offered by the CRYOcare system in the continued development of
cost effective, minimally invasive treatments of life threatening prostate
disease."
Diagnosis for prostate cancer, the number two cause of cancer
deaths among men, is on the rise: in 1996, nearly 317,000 new cases will be
diagnosed, while in 1995, 244,000 men were diagnosed with prostate cancer, of
which approximately 40,000 died. Current treatments for prostate cancer
include radical prostatectomy, the complete removal of the prostate, which has
associated risks and a long recovery time. Hormonal therapy also is used to
prevent the release or counter the action of male hormones.
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Boston Scientific Corporation is a worldwide developer,
manufacturer and marketer of medical devices whose products are used in a broad
range of interventional medical specialties.
ENDOcare, Inc., based in Irvine, Calif., develops,
manufactures and markets devices to treat diseases of the prostate. The
company currently markets surgical disposable devices used in electrosurgery
and surgical systems that include minimally invasive probes for tumor
destruction. As a longer-term opportunity, ENDOcare has initiated research and
development on an innovative product line to provide immediate therapy for
prostate obstruction in an office-based setting.
SOURCE ENDOcare, Inc.
-0- 11/21/96
/CONTACT: Xxxx X. Xxxxx, CEO and Chairman, or Xxxxxxxxx Xxxxxxxxxx, Investor
Relations, 000-000-0000; or Xxx Xxxxxxxxx or Xxxx Xxxxxx, Xxxxxx Xxxxxxx and
Xxxxxxxxx, 000-000-0000, or Internet: xxxxxxxx@xxxxxx.xxx/
(ENDO BSX)
