NovaMed Form 10-SB Filing Declared Effective by the SEC

Business Wire, Jan 19, 2000

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--January 19, 2000

NovaMed, Inc. (OTCBB: NVMD) reports that the Securities and Exchange Commission (SEC) has completed a review of its Form 10-SB and has declared NovaMed's filing effective. NovaMed filed the Form 10-SB in order to become a reporting company under the Exchange Act of 1934 and to maintain its listing on the OTC Bulletin Board in compliance with National Association of Securities Dealers (NASD) Rules 6530 and 6540 which limit quotations on the OTC Bulletin Board (OTCBB) to the securities of companies that report current financial information to the SEC, banking or insurance regulators. The result of the SEC's decision is that NovaMed will maintain its OTCBB quotation as a fully reporting company in accord with NASD Rules.

NovaMed develops, manufactures and markets breast implant products worldwide. The company's flagship product is the NovaGold(TM) breast implant. The NovaGold(TM) product was developed in response to demands for an alternative to silicone-gel filled implants. The NovaGold(TM) filling material is comprised of a biocompatible water based gel in combination with a thickening agent designed to enhance viscosity. The NovaGold(TM) product offers certain beneficial characteristics unavailable in other fill materials, including indications that the product permits more effective x-rays than either silicone or saline filled breast implants. NovaMed is now seeking permission from the Food and Drug Administration (FDA) to commence a clinical trial of the NovaGold(TM) breast implant in the United States.

This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Forward-looking statements involve the known and unknown risks and uncertainties that may cause the company's actual results in future periods to differ materially from that which is anticipated.