
14 juin, 2005 20:51
Heritage Worldwide Obtains Approval to Market Pre-Filled Silicone ...
June 14 /PRNewswire-FirstCall/ -- Heritage Worldwide Inc (OTC Bulletin Board: HWWI - News), a top-three provider of breast implants internationally, today ...
Company Expects to Take Significant Share of the World's Second Largest Market
LA-SEYNE-SUR-MER, France, June 14 /PRNewswire-FirstCall/ -- Heritage Worldwide Inc (OTC Bulletin Board: HWWI - News), a top-three provider of breast implants internationally, today announced that its subsidiary, Poly Implant Protheses, SA, has been awarded approval by the Brazilian Sanitary Surveillance Agency (ANVISA) to market gel-filled breast implants in Brazil, the world's second-largest market for breast implants.
"Not only is Brazil the second largest market for breast implants in the world, we expect to be the only one of the top three suppliers worldwide to have a significant position in the Brazilian market, which is today largely dominated by two local Brazilian companies," commented Heritage Chairman Jean- Claude Mas. "Brazil, with a population of more than 175 million, is an ideal market for our products. We have won praise from many Brazilian surgeons for our asymmetric breast implants, which emphasize natural aesthetics and contours, and are, we believe, a significant improvement over existing products currently available in Brazil. We estimate the annual Brazilian breast implant market to approximate 70,000 pairs, and we expect to obtain at least 10 percent of this market within the next twelve months."
"Securing Brazilian market approval is a significant step for us, and an important opportunity for us to be a strong international supplier in a large and growing market," said CEO Alain Serreyjol-Garros. "Even though it took us two years to obtain this approval, having worked closely with our Brazilian distributor, in the last twelve months we have opened several new markets and we are only at the top of the second inning of our game regarding our international expansion."
Heritage has seen a marked uptrend in recent months, and reported revenue increased 75 percent in its most recent quarter, with a strong turnaround to profitability. The results for the fiscal third quarter ended March 31 were reported on May 16, 2005. The fiscal year-end results are expected in September.
About Heritage Worldwide Inc
The Company and its subsidiaries develop, manufacture, and market breast and other body implants and body support products worldwide. The Company maintains its production facility and headquarters in the Toulon metropolitan area in Southern France, and has a distribution facility in Spain. The Company is incorporated in Delaware.
Safe Harbor Statement
This press release includes statements that may constitute "forward- looking" statements, usually containing the words "anticipate", "expects", "intend", "plan", "predicts", "believe", "seek", "estimate", "may", "will", "should", "would", "could", "potential", "continue", or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These forward looking-statements speak only as of the date hereof and are based upon the information available to us at this time. These statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that are difficult to predict. Therefore, our actual results could differ materially and adversely from those expressed in any forward- looking statement as a result of various factors.
Important factors that may cause such a difference for Heritage Worldwide include, but are not limited to, competitive pressures and other factors such as the introduction or regulatory approval of new products by our competitors and pricing of competing products and the resulting effects on sales and pricing of our products, disruptions or other problems with our sources of supply, significant product liability or other claims, difficulties with new product development and market acceptance, patent conflicts, product recalls, United States Food and Drug Administration delay in approval or rejection of new and existing products, changes in governmental regulations, use of hazardous or environmentally sensitive materials, our inability to implement new information technology systems, and other events.
Our Annual Report on Form 10-KSB and other Securities and Exchange Commission filings discuss the foregoing risks as well as other important risk factors that could contribute to such differences or otherwise affect our business, results of operations and financial condition. By making these forward-looking statements, we undertake no obligation to revise or update publicly these statements for revisions or changes after the date of this release.
Contact: Joe Allen (investors) Claude Couty, CFO Allen & Caron Inc Heritage Worldwide Inc 212 691 8087 011-33-49-410-7808 joe@allencaron.com ccouty@pipfrance.fr
Source: Heritage Worldwide Inc
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