Alpharetta, GA, January 1, 2005 — Provaré Technology today announces its first contract in a totally new industry – medical device manufacturing. The new contract is an umbrella- style contract with Theragenics Corporation of Buford, Georgia (NYSE: TGX). Under this contract, Provaré Technology will provide test engineering and associated documentation for the life-saving cancer treatments manufactured by Theragenics.
“This is a huge opportunity for us and is a very exciting time,” says Bill Tepper, CEO of Provaré Technology. “Theragenics has shown a lot of confidence in our experience and expertise by trusting us with this mission critical area. We are very happy to be able to be involved in the life-saving work of Theragenics and are determined to ensure the not only the quality of their products, but that they are brought to market quickly and economically. We see each day of delay as lives at risk and we take that responsibility very seriously.”
Provaré Technology bills itself primarily as a software testing services company, but its founders have helped research and development organizations in many different industries reach their development and quality goals reliably and economically. And yet, this is the young company’s first experience with medical devices, treatments, or instruments. It is also their first experience with FDA regulations, an area that Tepper feels confident that they can handle.
“Our past experience with the Department of Defense and NASA have given us tons of experience with mission critical applications where people’s lives are on the line. The FDA’s mission is essentially the same as ours – to ensure that medical treatments and devices are going to do people good – and not harm. We intend to give both them and Theragenics exactly the assurance that they need to sleep well at night knowing that sick people will live because of Theragenics products.”
Len Owens of Cumming, Georgia is the director of quality for Theragenics, a position he has held for over 8 years. When asked about the risk of relying on such a young company with no prior medical or FDA experience, Mr. Owens smiles confidently. “I am not a huge risk taker. In my position, I really can’t be. But Bill and Provaré came highly recommended and I spent quite a bit of time with Bill before making this decision. Bill was very honest about the areas of Provaré’s expertise and I am just convinced that I can trust him to do the job.”
No one would doubt that medicine is a growing part of the economy with growing quality concerns and needs. And with the growth of software in all areas of our lives, medical device and treatment manufacturers are increasingly relying on software for all aspects of their businesses, from manufacturing to order processing to research and development. “There is certainly growth in this area,” says Tepper, “but more important to me is the opportunity to apply our company’s abilities to immediately make the world a better place. If we have a hand in saving the life of the father of one young child, I’ll know we’ve met my definition of success.”
The new contract has no expiration date and allows Theragenics to use Provaré’s services for just about any quality-related task.
Founded in 2004, Provaré Technology is a provider of a variety of services crucial to the development of technology products. Provaré’s offerings include software testing services, configuration management (CM) services, development process improvement consulting, recruiting and training of test and CM staff members, etc. Provaré staff members have a combined 68 years of experience spanning all aspects of technology product development for space, defense, intelligence, telecom, wireless, point-of-sale, data warehousing, cable video, and internet access industries. For more information about products and services offered by Provaré Technology, please visit www.Provaré.com.
Theragenics Corporation® is committed to being a leading provider of brachytherapy treatment devices for prostate cancer and other degenerative disease states. The Company is the manufacturer and marketer of the palladium-103 device TheraSeed® and I-Seed, an iodine-125 based device. Both devices are used in the treatment of localized prostate cancer in one-time, minimally invasive procedures. Theragenics(TM) is the world’s largest producer of palladium-103 and is involved in research and development utilizing palladium-103 and other isotopes for the treatment of a wide variety of diseases, including macular degeneration. For additional information on the Company, call Theragenics™ Investor Relations Department at (800) 998-8479. The Company’s common stock is traded on the New York Stock Exchange under the symbol TGX. Additional information can be found on the Company website: www.theragenics.com.
Contacts:
Bill Tepper, CEO
Provaré Technology
Phone: +1 (770) 814-4169
Len Owens, Director of Quality
Theragenics Corporation
Phone: +1 (770) 831-4184