Sutura, Inc.
OTC Bulletin Board : SUTU

Sutura, Inc.

August 22, 2005 10:40 ET

Superstitch Developer Sutura Commences Trading as 'SUTU'

FOUNTAIN VALLEY, CALIFORNIA--(CCNMatthews - Aug. 22, 2005) - Sutura®, Inc. ("Sutura") (OTCBB:SUTU), a California-based medical device company, today begins trading in the over the counter markets under the symbol "SUTU". The new trading symbol follows the completion of the merger of Technology Visions Group, Inc. (TVGR), an applied research and development company, and privately held Fountain Valley, California-based Sutura, Inc.

The combined company will operate Sutura's medical device business, including the expanded launch of Sutura's Superstitch® products in the U.S. and Europe, which will be the primary business of the combined company. The merged company will also continue to operate TVGR's business as a separate line of business, in a wholly owned subsidiary, and intends to continue efforts to commercialize TVGR's Polymer Encapsulation Technology and GMENT treatment and stabilization systems.

"We are extremely pleased to have finalized the terms and conditions of the merger and completed the transaction," said Anthony Nobles, CEO/President of Sutura. "The merged company can now concentrate its efforts on further developing our Superstitch product line and expanding our marketing efforts worldwide to capture market share in the vascular closure industry."

James B. Lahey, former CEO and President of Technology Visions Group and now CEO and President of Technology Visions, the subsidiary operating the TVGR business commented, "Completing the merger took a little longer than we anticipated, but now that the merger conditions are complete we can move forward with expansion of our business strategy. In the new structure TVGR's management will continue to pursue commercialization of its radioactive waste treatment technology and identify additional opportunities for the sale of its products."

As a condition of the merger, shareholders of TVGR approved amendments to the Company's Certificate of Incorporation to effect a 12-for-1 reverse stock split and to increase the number of authorized shares of the Company's common stock from 100,000,000 to 500,000,000. These amendments occurred immediately prior to consummation of the merger. For more information on the merger, please refer to the Company's Definitive 14C Information Statement dated June 24, 2005 and subsequently filed reports located on the SEC's website (http://www.sec.gov).

About Sutura, Inc.

Sutura®, Inc. (www.suturaus.com) is a medical device company that has developed a line of innovative, minimally invasive, vascular suturing devices to suture the puncture created in arteries during open surgery and catheter-based procedures. The SuperStitch products provide sutured closure of the arteriotomy site utilizing the existing catheter sheath introducer or cannula during fluoroscopically guided procedures and directly through the open arteriotomy during open surgical procedures. The SuperStitch products are designed for ease of use by physicians to provide hemostasis. The F8 & F6 SuperStitch device is designed for use with or without an access device (e.g., trocar sheath, or cannula), for use during minimally invasive surgical procedures, fluoroscopically guided procedures, or in an open setting. Within the United States the F8 & F6 SuperStitch device has been cleared by the FDA under section 510(k) of the Federal Food, Drug, and Cosmetic Act ("FDC Act") for use in performing vascular stitching in general surgery, including endoscopic procedures. It is not intended for blind closure of an arteriotomy site. The SuperStitch F8 & F6 is approved in the European Union and CE marked with the indication for use as follows: The SuperStitch is indicated for use in performing vascular stitching in general surgery, including endoscopic procedures. In the EU there is no requirement for the use of fluoroscopic guidance. Sutura's headquarters are in Fountain Valley, California. "Sutura®" and "SuperStitch®" are registered trademarks of Sutura, Inc.

Technology Visions, Inc., a California corporation and wholly-owned subsidiary of Sutura, now conducts and operates the pre-merger business of Technology Visions, Group, Inc. Technology Visions' current technologies are undergoing certain feasibility studies and/or actual field tests and evaluations in the areas of the treatment and stabilization of buried mixed low-level radioactive waste.

Forward-Looking Information Is Subject to Risk and Uncertainty

Certain statements in this press release may contain projections or "forward-looking" information (as defined in the Private Securities Litigation Reform Act of 1995) that involve risk and uncertainty. The words "aim", "plan", "likely", "believe", "expect", "anticipate", "intend", "estimate", "will", "should", "could", "may", and other expressions that indicate future events and trends identify forward-looking statements. These statements are not guaranties of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Actual outcomes and results may differ materially from what we express or forecast in these forward-looking statements. As a result, these statements speak only as of the date they were made and we undertake no obligation to publicly update or revise any forward-looking statements. Our actual results and future trends may differ materially from our forward-looking statements depending on a variety of factors including the acceptance of the SuperStitch® devices by medical providers and the marketplace in general and the success of the proposed marketing plan, the continued growth of the vessel closure marketplace and the company's ability to continue to expand and protect its technology patents.

Contact Information

  • Sutura, Inc.
    Barry Forward
    Corporate Communications
    (866) 676-8386
    www.suturaus.com