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NEW COMPANY TO OFFER GENERIC MEDICAL DEVICES

December 11, 2006

A new company, Generic Medical Devices (GMD), said Monday it is the first to offer commonly used and efficacious surgical products at generic prices. The company said it will use the generic pharmaceuticals industry formula to develop and distribute generic alternatives to standard-of-care devices.

"Like with generic pharmaceuticals, GMD will be offering medical devices that are equivalent, if not better, than their branded counterparts and at prices that will be attractive to hospitals, physician-owned surgery centers, Medicare and third-party payors," said Richard Kuntz, president and CEO of Generic Medical Devices.

A company statement said the devices it chooses to provide will all have existing 510(k) classification, reimbursement by Medicare and third-party payers, established product safety, efficacy and outcomes, and a trained surgeon/physician base. The first products will be made available to hospitals, clinics and physician-owned surgical centers worldwide in the first quarter of 2007.