Announcement Comes on the Heels of a Medical Study Showing the Symphonix Vibrant Soundbridge Safe and Effective Over the Long Term
SAN JOSE, Calif. - Symphonix Devices, Inc. (Nasdaq: SMPX) - developers of the world's first, FDA-approved, middle-ear implant for those with moderate to severe sensoneural hearing loss - announced today the start of market growth initiatives to increase product awareness and build sales momentum. Initial program activity kicked-off this week, in conjunction with National Better Hearing and Speech Month, with Symphonix distributing a video news release highlighting the long-term safety and effectiveness of the Vibrant Soundbridge to television news programs throughout the U.S.
According to Kirk Davis, Symphonix president and CEO, the company's market growth initiatives also include a concentrated, select-market consumer outreach program, along with efforts to build on a rapidly growing list of otologists trained to perform a routine outpatient procedure required to implant the Symphonix hearing device.
"We are proud of what we have accomplished as a company to date," Davis said. "We believe we are well on our way to making the Vibrant Soundbridge an accepted medical option for millions of people who suffer from hearing loss. However, more work needs to be done to let people know that there is a safe and more effective alternative to conventional hearing aids on the market today. We also feel our market growth initiatives should help us continue on the path of success and grow market demand for our medical breakthrough in hearing technology."
Davis added that Symphonix will utilize a unique blend of public relations, marketing and advertising to reach out to consumers with hearing impairment, otologists and audiologists in key markets across the U.S. These initiatives will complement the ongoing effort to establish a cadre of referring audiologists around the implanting surgeons with emphasis on the newly released long-term effectiveness data and the emerging opportunities for insurance coverage.
The Vibrant Soundbridge represents an innovative approach to hearing improvement -- the implantable middle ear hearing device (IMEHD). Unlike conventional acoustic hearing aids, which increase the volume of sound that goes to the eardrum, the Vibrant Soundbridge bypasses the ear canal and eardrum by directly vibrating the small bones in the middle ear. Because of its design, no portion of the device is placed in the ear canal itself. The Vibrant Soundbridge has been approved by the FDA as a safe and effective treatment option for adults with moderate to severe sensoneural hearing loss who desire an alternative to acoustic hearing aids. Of the approximate 28 million Americans who suffer from hearing loss, 60 percent have moderate to severe hearing loss.
Individuals with moderate to severe sensoneural hearing loss who are interested in an alternative to hearing aids, can obtain more information about the Vibrant Soundbridge middle ear implant by calling Symphonix Devices, Inc. at 1-800-833-7733, or by visiting the Symphonix Web site at www.symphonix.com.
Symphonix also announced today that NASDAQ has approved the transition of the listing of its common stock to the NASDAQ SmallCap market effective May 24. The Symphonix stock symbol will remain SMPX.
About Symphonix Devices, Inc.
Founded in 1994, Symphonix® Devices Inc., is a hearing technology company dedicated to providing a family of products to improve communication ability and quality of life for the millions of hearing-impaired people limited by current hearing solutions. Symphonix' Vibrant® Soundbridge(TM) is a surgical implant designed to work with the natural structures of the middle ear to enhance hearing and communication ability for people with hearing impairment. The device can be implanted during a short, outpatient medical procedure. More information about Symphonix can be found at www.symphonix.com or by calling (800) 833-7733.
Symphonix and Vibrant are registered trademarks of Symphonix Devices, Inc. Soundbridge is a trademark of Symphonix Devices Inc.
Statements made in the press release regarding the future performance of our business, including our marketing initiatives, are "forward looking statements" and are subject to a number of uncertainties that could cause actual results to differ materially from the statements made. Such risks and uncertainties include, but are not limited to, the Company's products failing to achieve widespread market acceptance by otologists, audiologists and the hearing impaired. Further information on potential factors that could affect the Company's financial results is included in the Company's Form 10-Q for the quarter ending March 2002, and Form 10-K for the 2001 fiscal year filed with the Securities and Exchange Commission.
For more information:
Media Contact -
Whitney Cook
Neale-May & Partners
+1-415-646-0055, ext. 501
wcook@nealemay.com
or
Bob Stern
Neale-May & Partners
+1-415-646-0055, ext. 514
Mobile: +1-415-725-3938
Investor Relations Contact -
Terry Griffin
Symphonix Devices Inc.
CFO
+1-408-232-0710
Symphonix® Launches Market Growth Initiatives
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