Misonix Divests Units to Focus on Growing Medtech Business

Misonix Inc. is narrowing its core competency. The Farmingdale, N.Y.-based ultrasound technology developer has sold its Laboratory and Forensic Safety Products Division to focus exclusively on growing its medical device business.

Misonix sold its laboratory and forensic unit earlier this fall to Mystaire Inc. for $1.5 million in cash. The deal also specifies that Mystaire be paid an additional $500,000 upon the achievement of certain milestones (those targets, however, were not made public). The company will manufacture its newly acquired ductless fume hood and forensic product lines under the Mystaire Misonix brand name, and will centralize manufacturing, sales and customer support for the merchandise at its headquarters in Creedmoor, N.C.

“We are excited to continue the work that Misonix began many years ago,” Mystaire Misonix President Mark Leath said in prepared remarks. “We will strive to build upon the quality platform that Misonix has established in the marketplace. We will focus on the safety needs of laboratory and law enforcement professionals worldwide, with the goal of providing the best possible solutions and service to the industry.”

Misonix’s laboratory and forensic safety products unit manufactured and marketed ductless fume, laminar airflow and polymerase chain reaction workstations in both the United States and overseas. The business generated $2.1 million in revenue in fiscal 2011.

Misonix executives said proceeds from the sale would be invested in its medical device business, which grew 19.5 percent during the first quarter of fiscal 2012, ended Sept. 30. Data from the company shows medical device product sales grew $525,000 to $3.2 million, while laboratory and scientific product sales fell $44,000 to $522,000 during the same period. Bigwigs attributed the increase in medical device revenue to robust sales of the company’s Neuroaspirator and BoneScalpel products.

Over the last year, Misonix has made steady progress in gaining market share with the sale of its products. During a three-week span from late October to mid-November, the company negotiated agreements to distribute its SonaStar Ultrasonic surgical aspirator and the BoneScalpel Ultrasonic bone cutter in Algeria, Austria, Germany, India, Switzerland and Thailand.

The SonaStar is used by surgeons to remove both hard and soft tumors located near blood vessels (the device enables physicians to avoid removing the vessels). The SonaStar also can be used in conjunction with OsteoSculpt bone sculpting technology to safely remove bone tissue, thereby providing better access to the surgical site.

Misonix’s BoneScalpel can make precise cuts through bone and hard tissue while mostly salvaging soft tissue. It is as fast as a power tool but not as dangerous, according to the company.