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The InnovaQuartz acquisition is expected to be accretive beginning in 2007. IQ will be managed and operated as a wholly owned subsidiary of Laserscope for the foreseeable future.
The Intracorporeal Stone Market
IQ is one of the few vertically integrated developers, manufacturers, and commercializers of advanced medical fiber optics in the world. IQ recently acquired proprietary intellectual property and manufacturing expertise, which it uses to produce a line of technologically advanced sterile fiber optic delivery devices available for use in intracorporeal laser lithotripsy, or the endoscopic treatment of kidney, bladder, and other urinary stones using holmium laser technology.
In the U.S. alone more than 200,000 intracorporeal stone treatment procedures are performed each year using various technologies with a larger number performed internationally. Sources predict that the number of holmiumstone treatment procedures in the United States is expected to grow atapproximately 15% per year through 2008 given the ease of use, speed, and relative safety of the holmium laser technology relative to other technologiesused for breaking up the hard materials that make up urinary stones. This growth rate exceeds the approximately 6% compounded procedural growth rate expected considering the aging population, dietary changes and other dynamics.
According to industry sources, the total market size for holmium laser capital equipment and disposable and reusable delivery devices for theseprocedures exceeds
"InnovaQuartz's disposable and reusable stone fiber revenue has grown at atremendous rate over the past two years. Given the favorable market dynamics and strong OEM relationships that InnovaQuartz has established, coupled with Laserscope's growing urology distribution expertise, we expect strong, consistent revenue growth from this new product line for the foreseeable future," Mr. Reuter concluded.