2012   |   2011   |   2010   |   2009   |   2008   |   2007   |   2006   |   2005   |   2004   |   2003   |
2002   |   2001   |   2000
 

 
Melville, New York, November 13, 2006 - Bovie Medical Corporation (the “Company”) (Amex: BVX), a manufacturer and marketer of electrosurgical products, today announced that it has acquired assets of Lican Developments LTD (Lican), an Ontario, Canada Corporation. The assets acquired include proprietary patent pending technologies, working prototypes in various stages of development and production equipment. Lican is a product development and manufacturing company focused on endoscopic devices.
 
Technologies in development include:

• Tip-On-Tube® a disposable tip technology complementary to Bovie’s previously acquired and announced Modular Ergonomic Grip (MEG) forceps. Bovie acquired the MEG technology in January 2006 and recently received Food and Drug Administration (FDA) clearance to market the product.
• A new surgical handle platform called the Modullion® that allows a plurality of electrical and mechanical modes to be used in conjunction with reusable and disposable mono and bipolar cartridges and is applicable to most endoscopic surgeries.
• Seal-N-Cut® a family of endoscopic instruments used in monopolar and bipolar vessel and tissue cutting and sealing.

Bovie will be forming a wholly owned subsidiary, Bovie Canada, that will continue the further development of these technologies as well as manufacturing the new devices and other Bovie products. Mr. Steve Livneh, president and founder of Lican, will assume the position of President of Bovie Canada. Mr. Livneh, a mechanical engineer and inventor has over 20 years experience in the endoscopic market. He has been a consultant to the Company since January 2006 and is assisted by Howard Stallard, vice president of operations together with nine full-time employees.
 
Bovie Canada features state of the art manufacturing equipment such as computerized multi-axis machinery, micro-laser welding equipment and electro-discharge drilling machinery.
 
Terms of the acquisition include $350,000.00 cash payable over 5 years, a total of 350,000 restricted Bovie Common Shares subject to American Stock Exchange guidelines, of which 200,000 restricted shares contain vesting provisions, and 150,000 restricted shares are conditioned upon the achievement of specified developmental and regulatory benchmarks. Bovie anticipates revenues from the acquisition during the first half of 2007.
 
Commenting on the acquisition, Andrew Makrides, president of Bovie Medical stated, “Steve Livneh and his team are a welcome addition to the Bovie family. We anticipate that his expertise in engineering and developing medical device instrumentation together with his demonstrated manufacturing capabilities should contribute to Bovie’s product offerings and growth.”
 
This document may contain some forward looking statements, particularly regarding operational prospects in 2006 and beyond, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risks are listed from time to time in the Company’s SEC filings.
 

 
Melville, New York, November 7, 2006 - Bovie Medical Corporation (the “Company”) (Amex: BVX), a manufacturer and marketer of electrosurgical products, today announced record third quarter and nine month revenues, net earnings and earnings per share, led by its electrosurgery division.
 
For the quarter ended September 30, 2006, revenue rose to a record $7.0 million, a 39% increase over the $5.04 million recorded in the same period last year. Net income increased 400% to $856,959 or $.05 per diluted share versus a net income of $171,620 or $.01 per diluted share in the comparable period a year earlier.
 
For the nine months ended September 30, 2006, Bovie’s revenues increased 33% to a record $19.75 million versus $14.84 million in the first nine months of fiscal 2005. Net income increased to a record $2,259,899 or $.13 per diluted share compared to $142,306 or $.01 per diluted share for the comparable period last year.
 
Andrew Makrides, president of Bovie, stated, “We are pleased with the Company’s solid financial results which were fueled by the electrosurgery segment of Bovie’s business. Our primary goal remains to increase sales and margins through a diverse product line and a constant refinement of the way we deliver quality and value to our customers.”
 
He added, “Great effort continues to be directed towards the designing, manufacturing and marketing of proprietary products while exploring potential strategic collaborative agreements.”
 
This document may contain some forward looking statements, particularly regarding operational prospects in 2006 and beyond, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risks are listed from time to time in the Company’s SEC filings.
 

BOVIE MEDICAL CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE MONTHS AND NINE MONTHS PERIODS
	Three Months Ending September 30th		Nine Months Ending September 30th
	2006	2005	2006	2005
Total Revenues	$6,999,054	$5,038,908	$19,751,250	$14,839,711
Cost of Sales	$4,118,252	$2,924,168	$11,743,121	$9,489,840
Gross Profit	$2,880,802	$2,114,740	$8,008,129	$5,349,871
Costs & Expenses	$5,349,871	$1,951,214	$5,781,458	$5,231,862
Gain (Loss) from Operations	$830,654	$163,526	$2,226,671	$118,009
Other Income (expense)	$28,872	$5,594	$50,795	$16,797
Net Income (loss)	$856,959	$171,620	$2,259,899	$142,306
EPS Basic (New Income)	.06	.01	.16	.01
EPS Diluted	.05	.01	.13	.01
Weighted Average Shares Outstanding	14,610,828	13,928,162	14,351,324	13,907,579
Weighted Average Shares adjusted for dilutive securities	17,483,781	15,925,494	16,895,099	16,020,454

 

---

 
Melville, New York, – Oct 12, 2006 - Bovie Medical Corporation (the “Company”) (Amex: BVX), a manufacturer and marketer of electrosurgical products, today announced that it has received U.S. Food and Drug Administration (FDA) 510(k) clearance to market a new line of patent pending advanced modular laparoscopic electrosurgical electrodes and handle, aimed at the laparoscopic and arthroscopic markets. The Modular Ergonomic Instruments (MEG) family combined with Bovie’s advanced electrosurgical generators offers users unprecedented cost savings as well as reduced and simplified inventory.
 
The high quality, reusable, insulated MEG line handle comes with light metallic grips, transparent ratchet and ergonomic design, which is expected to reduce surgeon fatigue and improve tactile feel. The handle accepts reusable tip inserts. Additionally, the loading and detachment of tips is simple with minimal required user training.
 
It is estimated that the total annual worldwide market for this product line exceeds $200 million.
 
In other news, the Company announced that Mr. Gary Pickett has been promoted to Chief Financial Officer. Mr. Pickett has been the Company's Controller since March 27, 2006.
 
Mr. Pickett previously held financial and accounting positions with Progress Rail Services, Progress Energy and Florida Power Corporation. Mr. Pickett is a CPA with extensive experience in Sarbanes-Oxley implementation as well as GAAP accounting and SEC reporting. He holds an MBA from Tampa University, B.S. from Florida State and served five years as a field artillery officer in the United States Army.
 
This document may contain some forward looking statements, particularly regarding operational prospects in 2006 and beyond, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risks are listed from time to time in the Company’s SEC filings.
 

 
Melville, New York, – October 11, 2006 – Bovie Medical Corporation (“Bovie”) (AMEX:BVX), a manufacturer and marketer of electrosurgical products, announced today that it has entered into an agreement with Boston Scientific Corporation (NYSE: BSX) for the exclusive distribution and marketing by Boston Scientific of an electrosurgical device for use in Boston Scientific’s Oncology business. Under the agreement, Bovie will manufacture the product. The product will be co-labeled with both the Boston Scientific and Bovie names displayed. Additionally, Bovie will receive funding from Boston Scientific as part of its manufacturing start up.
 
Commenting on the agreement, Bovie president Andrew Makrides stated, “We are pleased to be working with one of the premier medical device companies in the world. It is a strong step forward in our strategy to achieve greater market recognition through Boston Scientific’s well-established and expert sales force. Bovie looks ahead to a continued mutually beneficial relationship with Boston Scientific.”
 
 
About Boston Scientific
 
Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: www.bostonscientific.com.
 
About Bovie Medical
 
Bovie Medical Corporation, headquartered in Melville, NY, with manufacturing in St. Petersburg, FL, is a developer, manufacturer and marketer of electrosurgical products. For more information, please visit: www.boviemedical.com.
 

 
Melville, New York, September 11, 2006 - Bovie Medical Corporation (the “Company”) (Amex: BVX), a manufacturer and marketer of electrosurgical products, today announced that it has received U.S. Food and Drug Administration (FDA) 510(k) clearance to market the ICON GI™ for gastroenterological procedures. The GI device has been designed in conjunction with input from GI physicians and nurses, offering many features including digital output, a touch screen interface, physician preference database, neutral electrode monitoring, and common sense messages.
 
Andrew Makrides, president of Bovie stated “We continue to make progress designing and developing proprietary innovative electrosurgical devices for the medical community. The ICON GI™ accelerates our shift from being highly dependent on OEM contracts toward the marketing and sale of our own brand of products. We look forward to the introduction of the device at the American College of Gastroenterologists conference Oct. 20th-24th in Las Vegas, NV.”
 
Mr. Makrides added, “The Company is establishing specialty distribution channels both domestically and internationally as well as entering into discussions with potential strategic marketing and distribution partners.”
 
This document may contain some forward looking statements, particularly regarding operational prospects in 2006 and beyond, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risks are listed from time to time in the Company’s SEC filings.
 

 
Melville, New York, August 25, 2006 – Bovie Medical Corporation (the “Company”) (Amex:BVX), a manufacturer and marketer of electrosurgical products, today announced a marketing and distribution alliance with Medline Industries. The alliance will promote the sale of electrosurgical equipment and accessories in the hospital market. Medline has recently launched a full line of high quality electrosurgical accessories and will co-promote these accessories with Bovie’s electrosurgical equipment to hospitals and hospital buying groups.
 
The program is being rolled out as group purchasing organizations and integrated delivery network contract renewals are re-negotiated.
 
Commenting on the alliance, Andrew Makrides CEO of Bovie Medical said, “This alliance offers a significant value proposition to hospitals and hospital buying groups by emphasizing the strengths of both companies. Hospitals will have access to Bovie’s advanced electrosurgical equipment as well as Medline’s high quality accessories.”
 
Mr. Makrides continued, “This alliance offers a one stop solution to the end user plus gives group purchasing organizations additional choices to offer to their members.”
 
 
About Bovie Medical
 
Bovie Medical, Corp. (www.boviemedical.com), headquartered in Melville, NY with manufacturing in St. Petersburg, FL, is a developer, manufacturer and marketer of electrosurgical products.
 
About Medline
 
Medline, headquartered in Mundelein, IL, with over $2 billion in annual revenues, manufactures and distributes more than 100,000 products to hospitals, extended care facilities, surgery centers, home care dealers and agencies and other markets. Medline has more than 700 dedicated sales representatives nationwide to support its broad product line and cost management services. For more information on Medline, visit our website, www.medline.com.
 
This document may contain some forward looking statements, particularly regarding operational prospects in 2006 and beyond, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risks are listed from time to time in the Company’s SEC filings.
 

 
Melville, New York, August 9, 2006 - Bovie Medical Corporation (the “Company”) (Amex: BVX), a manufacturer and marketer of electrosurgical products, today announced record second quarter and first half revenues, net earnings and earnings per share, led by its electrosurgery division.
 
For the quarter ended June 30, 2006, revenue rose to a record $6.74 million, a 33% increase over the $5.05 million recorded in the same period last year. The strong showing in net sales translated into a dramatic turnaround in net earnings of $712,810.00 or $.04 per diluted share versus a net loss of $(118,337) or one-cent loss per diluted share in the comparable period a year earlier.
 
For the first half of fiscal 2006, ended June 30, Bovie’s revenues increased 30% to a record $12.75 million versus $9.8 million in the first six months of fiscal 2005.
 
First half net income was at an historic level totaling $1,402,940 or $.08 per diluted share a significant improvement over a net loss of $(29,134) for the comparable period last year.
 
Andrew Makrides, president of Bovie, stated, “Our strong performance resulted from increased electrosurgery sales coupled with factory overhead and labor costs, as a dollar amount, remaining relatively unchanged. Gross profit margins, as a result, improved from 34% in 2005 to 41% in the current fiscal year.”
 
He added, “We continue to direct our efforts at developing new products which should further enhance our profit margins and create a more diverse revenue stream."
 
This document may contain some forward looking statements, particularly regarding operational prospects in 2006 and beyond, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risks are listed from time to time in the Company’s SEC filings.
 

BOVIE MEDICAL CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE MONTHS AND SIX MONTHS PERIODS
	Three Months Ending June 30th		Six Months Ending June 30th
	2006	2005	2006	2005
Total Revenues	$6,740,745	$5,057,912	$12,752,196	$9,801,123
Cost of Sales	$3,848,484	$3,416,576	$7,553,776	$6,458,437
Gross Profit	$2,892,261	$1,641,336	$5,198,420	$3,342,686
Costs & Expenses	$2,180,757	$1,766,688	$3,802,272	$3,388,204
Gain (Loss) from Operations	$711,504	$(125,352)	$1,396,148	$(45,518)
Other Income (expense)	$11,306	$4,515	$21,792	$11,204
Net Income (loss) before minority interest and income taxes	$722,810	$(120,837)	$1,417,940	$(34,314)
Minority Interest	$5,000	$2,500	$10,000	$5,000
Provision for income taxes	$(235,700)	-	$ (493,200)	-
Realized benefit of loss carry forward	$220,700	-	$468,200	-
Net Income (loss)	$712,810	$(118,337)	$1,402,940	$(29,314)
EPS (loss) Basic	.05	(.01)	.10	.00
EPS (loss) Diluted	.04	N/A	.08	N/A
Weighted Average Shares Outstanding	14,286,858	13,908,188	14,223,949	13,897,055
Weighted Average Shares adjusted for dilutive securities	17,129,404	N/A	16,957,670	N/A

 

---

 
Melville, New York, August 22, 2006 - Bovie Medical Corporation (the “Company”) (Amex: BVX), a manufacturer and marketer of electrosurgical products, today announced the filing of a 510(k) application for a new line of patent pending advanced modular laparoscopic electrosurgical electrodes and handle aimed at the laparoscopic and arthroscopic markets. The Modular Ergonomic Instruments (MEG) family is an innovative advancement of current hand instruments used in electrosurgery. The MEG line combined with Bovie’s advanced electrosurgical generators offers users unprecedented cost savings as well as reduced and simplified inventory.
 
The high quality, reusable, insulated MEG line handle comes with light metallic grips, transparent ratchet and ergonomic design, which should reduce surgeon fatigue and improve tactile feel. The handle accepts reusable tip inserts. Additionally, the loading and detachment of tips is simple with minimal required user training.
 
Commercial prototypes have been developed and Bovie plans to commence marketing after necessary clearance from the FDA. It has been estimated that the total annual worldwide market for this product line exceeds $200 million.
 
The Company’s annual meeting of common stockholders will be held September 14, 2006 at 5:00 p.m., eastern daylight savings time at the Holiday Inn, 215 Sunnyside Boulevard, Plainview, New York 11803.
 
This document may contain some forward looking statements, particularly regarding operational prospects in 2006 and beyond, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risks are listed from time to time in the Company’s SEC filings.
 

 
Melville, New York, July 25, 2006 - Bovie Medical Corporation (the “Company”) (Amex: BVX), a manufacturer and marketer of electrosurgical products, today announced that it has received U. S. Food and Drug Administration (FDA) 510(K) clearance to market its “In-a-Flash” Suture Removal device. The device is designed to remove sutures with a tension free cut and is anticipated to be utilized in various human and animal medical procedures. The Company plans to market and distribute the device through its established and growing distribution network.
 
Commenting on the FDA clearance to market, J. Robert Saron, president of Bovie Medical’s wholly-owned subsidiary Aaron Medical, stated, “We are pleased with the progress the Company is making developing proprietary and innovative medical technologies. We will be introducing the “In-a-Flash” Suture Removal device at the Health Industry Distributors Association show (HIDA) in Chicago, IL. from September 19-21, 2006. The HIDA show is the largest medical distributor meeting that Bovie attends in the United States.”
 
This document may contain some forward looking statements, particularly regarding operational prospects in 2006 and beyond, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risks are listed from time to time in the Company’s SEC filings.
 

 
Melville, New York, July 12, 2006 - Bovie Medical Corporation (the “Company”) (Amex: BVX), a manufacturer and marketer of electrosurgical products, today announced the filing with the Food and Drug Administration (FDA) of a 510(K) application for an electrosurgical product for the gastroenterological market. The GI device has been designed in conjunction with input from GI surgeons and nurses, offering many features including a touch screen interface, physician preference database, neutral electrode monitoring, and common sense messages.
 
Andrew Makrides, president of Bovie, added, “We are poised to enter a growing GI market where statistics indicate that the number of colonoscopies performed in the United States is increasing at a dramatic rate. The GI ICON™ demonstrates Bovie’s strong commitment to design and develop technologies that improve patient care and the manner in which physicians deliver it.”
 
In other news, the Company expects to report in August that the recently completed second quarter was the highest revenue quarter in Company history.
 
This document may contain some forward looking statements, particularly regarding operational prospects in 2006 and beyond, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risks are listed from time to time in the Company’s SEC filings.
 

 
Melville, New York, May 10, 2006- Bovie Medical Corporation (the “Company”) (Amex: BVX), a manufacturer and marketer of electrosurgical products, today announced its financial results for the first quarter ended March 31, 2006.
 
Revenues for the first quarter increased over 26% to a recorrst quarter were a quarterly record $690,130 or $.04 per diluted share compared to $89,023 or $.01 ped $6.0 million versus $4.74 million recorded for the first quarter of 2005. Net earnings for the fir diluted share for the comparable period last year.
 
Andrew Makrides, president and CEO of Bovie Medical, stated, “With our strong first quarter financials fueled by increased electrosurgical sales, we are off to an excellent start. We remain optimistic regarding our full year performance.”
 
In unrelated news, the Company stated that it had filed a 510(K) application with the FDA for its “In-a-Flash” Suture Removal device. The device is designed to remove sutures with a tension free cut and is to be utilized in various human and animal medical procedures.
 
This document may contain some forward looking statements, particularly regarding operational prospects in 2006 and beyond, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risks are listed from time to time in the Company’s SEC filings.
 

BOVIE MEDICAL CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
	Three Months Ending March 31
	2006	2005
Total Revenues	$6,011,451	$4,743,211
Cost of Sales	$3,705,292	$3,092,741
Gross Profit	$2,306,159	$1,650,470
Total Other Costs	$1,611,515	$1,563,136
Operating Income	$694,644	$87,334
Other Income (expense)	$10,486	$6,689
Minority Interest Expense	$(5,000.00)	$(5,000.00)
Provision for Income Tax	$(257,000.00)	$(31,160.00)
Realized Benefit of Loss Carry Forward	$247,500	$31,160
Total Net Earnings	$690,130	$89,023
Earnings Per Share Diluted	$.04	$.01
Weighted Number of Diluted Shares Outstanding	16,606,558	16,243,973

 

---

 
Melville, New York, March 29, 2006- Bovie Medical Corporation (the “Company”) (Amex: BVX), a manufacturer and marketer of electrosurgical products, today announced its financial results for the fourth quarter and twelve months ended December 31, 2005.
 
Revenues for the fiscal year 2005 totaled $20.2 million resulting in net income of $406,208 or $.03 per diluted share. In 2004, the Company reported revenues of $20.5 million and net income of $1,511,993 or $.09 per diluted share. FY 2005 revenues and earnings were affected by a reduction in OEM orders and increased costs relating to new product development. The results are in line with our outlook reported in FY 2004 10-KSB filing.
 
Revenues for the fourth quarter reached a record $5.4 million versus $4.9 million recorded for the fourth quarter of 2004. Net earnings for the fourth quarter were $263,903 or $.02 per diluted share compared to $344,802 or $.02 per share for the comparable period last year, which included a one-time income item of $245,264 from a hurricane related insurance settlement.
 
Andrew Makrides, president and CEO of Bovie Medical, said “We are pleased with our fourth quarter performance and this momentum has accelerated into the first quarter of 2006, which we anticipate being the highest revenue quarter in Company history. Fiscal 2006 should be marked by significant progress due to our anticipated new product introductions, either by Bovie alone and/or in collaboration with other larger medical companies.”
 
This document may contain some forward looking statements, particularly regarding operational prospects in 2006 and beyond, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risks are listed from time to time in the Company’s SEC filings.
 

BOVIE MEDICAL CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE MONTHS AND TWELVE MONTHS PERIODS
	Three Months Ending December 31st		Twelve Months Ending December 31st
	2005	2004	2005	2004
Total Revenues	$5,371,110	$4,855,618	$20,211,000	$20,495,101
Cost of Sales	$3,164,846	$3,139,787	$12,649,209	$12,638,161
Gross Profit	$2,206,264	$1,725,831	$7,561,932	$7,856,940
Other Income (expense)	-	$245,264	-	$245,264
Total Net Income (loss)	$263,903	$344,802	$406,208	$1,511,993
EPS Diluted	.02	.02	.03	.09
Weighted Number of Diluted Shares Outstanding	15,881,591	16,177,881	15,750,284	16,177,881

 

---

 
Melville, New York, March 1, 2006- Bovie Medical Corporation (the “Company”) (Amex: BVX), a manufacturer and marketer of electrosurgical products, today announced that it has received U.S. Food and Drug Administration (FDA) clearance to market the BovieButton™ Remote Handswitch (BovieButton™). The BovieButton™ is a device designed to eliminate the foot pedal and cables associated with standard electrosurgical generators found in all GI labs. The ergonomically designed button was developed after a review of time-motion studies of physicians and nurses during GI procedures.
 
Dr. Peter Pardoll, a member of Bovie’s Scientific Advisory Board, led focus groups of gastroenterologists and GI lab assistants whose main complaint was the myriad of foot pedals and cables which can result in contamination of the nurses hands in moving the pedals, difficulty in placement of the pedal in a darkened room as well as resultant safety problems of the physician and nurse taking their eyes off the lesion on the video screen to find the pedal and losing sight of the polyp to be removed.
 
The device eliminates the need for a footswitch, which can be both expensive and contaminated. The BovieButton™ is disposable and attached where the physician feels most comfortable for activation of the generator. This is the first of several products being developed by Bovie for the GI market.
 
“It made sense to move the pedal to the scope by placing the activating buttons on the scope head, comparable to a surgeon’s use of an electrosurgical pencil,” said Dr. Pardoll. “Using our GI Advisory Team, the buttons were modified to improve safety and comfort in the GI lab and ensure that the active cord will not disconnect from the snare or hot biopsy forceps. The BovieButton™ is compatible with all snares and eliminates the need for the generator’s active cord, which is another area of safety concern for inadvertent disconnection.”
 
Andrew Makrides, president of Bovie Medical, stated, “We are optimistic about the potential of the BovieButton™. The BovieButton™ is another example of an innovative device created by our engineers in collaboration with doctors, nurses and technicians. Developing proprietary products for niche markets that improve the efficiency and safety of surgeons continues to be Bovie’s main emphasis. As previously disclosed, Bovie is directing significant effort and resources towards the expansion of its family of products in order to meet the needs of the rapidly changing medical industry.”
 
This document may contain some forward looking statements, particularly regarding operational prospects in 2006 and beyond, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risks are listed from time to time in the Company’s SEC filings.
 

 
Melville, New York, January 12, 2006- Bovie Medical Corporation (the “Company”) (Amex: BVX), a manufacturer and marketer of electrosurgical products, today announced it has acquired technology for new endoscopic modular instruments (patent pending) from Henvil Corp. LTD. The innovative modular forceps are ergonomically designed to provide surgeons added comfort and improved safety while reducing per-procedure costs. The modular forceps offer a unique and simpler assembly process for laparoscopic procedures and is the first modular design for the arthroscopy market. Commercial prototypes have been developed and based on current projections the Company expects to commence marketing during fiscal 2006. The estimated annual worldwide market size for instruments in this area is estimated to exceed $200 million.
 
Commenting on the technology, Mr. Steve Livneh, president and founder of Henvil Corp. stated, “When seeking a partner to bring our new endoscopic instruments to the market, we looked no further than Bovie Medical. The synergy of combining Bovie’s excellent reputation as well as its impressive manufacturing capabilities together with Henvil’s state-of-the-art instruments creates a potent force in the Endoscopic marketplace.”
 
Mr. Livneh added, “The instruments are reusable and have a disposable component and constitute a step forward in the evolution of surgical instruments that will benefit patients, surgeons and cost conscience administrators.”
 
Henvil Corporation, LTD. was founded by Mr. Steve Livneh, a mechanical engineer and inventor. Henvil Corp. is dedicated to the design of innovative instruments for today’s surgical industry. Mr. Livneh has 20 years experience in the Endoscopic market.
 
In other news; the Company confirmed that the fourth quarter of 2005 was the best revenue fourth quarter in Company history. Audited financial results for the fourth quarter and year end 2005 will be released in March.
 
This document may contain some forward looking statements, particularly regarding operational prospects in 2006 and beyond, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risks are listed from time to time in the Company’s SEC filings.