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FINANCIALS
PROXY FORMS
PROXY 2011
CORPORATE COMPLIANCE
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Corporate Profile Bovie Medical Corporation is actively engaged in the business of manufacturing and marketing a variety of electrosurgical medical products as well as developing related technologies and products. Recently, greater effort and resources have been directed towards manufacturing electrosurgical generators which are primarily used for outpatient surgical procedures. Bovie continues the ongoing development of high-powered generators for operating room use. It is estimated that the electrosurgery industry is currently growing 10% annually and is used in 80% of all surgical procedures performed worldwide.
Recent Developments & New Products
Company Products The Company’s products compete primarily in the multi-billion dollar market for electrosurgical generators and single-use specialty medical products. Industry demand for electrosurgical medical products is being favorably impacted by several trends including: the aging population, increased emphasis on less invasive surgical procedures, higher level of outpatient care, continuing pressure to improve productivity and reduce costs; and the heightened awareness for reducing the transmission of infectious diseases. J-Plasma ICON GS electrosurgical generator - Approximate total worldwide market exceeds $2 billion Vessel Sealing Instruments - Approximate worldwide market $1 billion Standard Electrosurgical Generators & accessories - Approximate worldwide $80 million Battery Operated Cauteries - Approximate worldwide market $10 million Battery operated cauteries represent the Company's original line. Cauteries were originally designed for precise hemostasis (to stop bleeding) in ophthalmology. The Company estimates it manufactures more types of cauteries than any other company in the world controlling up to 70% of the market, including a line of replaceable battery and tip cauteries, which are popular in overseas markets.
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