Arrhythmia Research Technology, Inc. Announces Supply Agreement With Blue Belt Technologies, Inc.
(Marketwire Via Acquire Media NewsEdge) FITCHBURG, MA -- (Marketwired) -- 02/19/14 --
Arrhythmia Research Technology, Inc. (NYSE MKT: HRT) and its subsidiary Micron Products, Inc. (the "Company") announced today that it has entered into a multi-year supply agreement with Blue Belt Technologies, Inc. (Blue Belt) to produce orthopedic implant components used in its STRIDE™ Unicondylar Knee system.
Salvatore Emma, Jr., President and CEO of Micron Products, Inc., stated, "We are very pleased that Micron was selected as a primary supplier of implant components to Blue Belt. We think that the NavioPFS smart surgical instrument is an innovative technology which holds great potential for orthopedic surgeons. The STRIDE™ Unicondylar Knee system is optimized for Blue Belt's NavioPFS platform."
Micron expects to manufacture knee implant components sufficient for the build-up of Blue Belt's surgical kits as well as on-going replenishment.
About Blue Belt Technologies, Inc.Blue Belt Technologies, Inc. is developing the next generation of "smart" surgical instruments for initial use in orthopedic procedures and then for other surgical specialties including neurosurgery, spinal and otolaryngology ("ENT"). The Company's Navio™ System incorporates patented technology to provide precise robotic control to surgeons via an intelligent, handheld, computer-assisted bone cutting tool. The NavioPFS System provides the surgeon with a layer of safety and enhanced accuracy while performing bone shaping tasks through minimally invasive incisions. The Company's STRIDE™ Unicondylar Knee system provides advanced implant features optimized for use with Navio.
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About Arrhythmia Research Technology, Inc.The Company through its wholly-owned subsidiary, Micron Products, Inc. manufactures components, devices and equipment primarily for the medical and defense industries. Micron is engaged in the production and sale of silver/silver chloride coated and conductive resin sensors used as component parts in the manufacture of integrated disposable electrophysiological sensors. These disposable medical devices are used worldwide in the monitoring of electrical signals in various medical applications. The Company has expanded into custom thermoplastic injection molded products with a full array of design, engineering and production services and management. The addition of an orthopedic implant machining operation produces quick-turn, high volume and patient-specific, finished orthopedic implants. The Company also has developed and distributes customizable proprietary signal-averaging electrocardiography (SAECG) software used in the detection of certain heart arrhythmias and that is reconfigurable for a variety of hardware platforms.
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Forward-looking statements made herein are based on current expectations of the Company that involve a number of risks and uncertainties and should not be considered as guarantees of future performance. The factors that could cause actual results to differ materially include our ability to retain customers who represent significant proportions of revenue; our ability to maintain our pricing model and/or decrease our cost of sales; our ability to increase sales of higher margin products and services; our ability to manage our level of debt and provisions in the debt agreements which could limit our ability to react to changes in the economy or our industry; failure to comply with financial and other covenants in our credit facility; volatility in commodity and energy prices and our ability to offset higher costs with price increases; continued availability of supplies or materials used in manufacturing at competitive prices; variability of customer delivery requirements; variations in the mix of products sold; a stable interest rate market and/or a stable currency rate environment in the world, and specifically the countries where we are doing business; amount and timing of investments in capital equipment, sales and marketing, engineering and information technology resources and our ability to offset higher costs with price increases. More information about factors that potentially could affect the Company's financial results is included in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2012.
Source: Arrhythmia Research Technology, Inc.
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