Diomed Holdings, Inc. (Diomed Holdings), incorporated on December 24, 1997, develops and commercializes minimally invasive medical procedures that employ laser technologies and associated disposable products. Using its technology, the Company focuses on endovenous laser treatment (EVLT) of varicose veins. Diomed Holdings also develops and markets lasers and disposable products for photodynamic therapy (PDT) cancer procedures and products for other clinical applications, including dental and general surgical procedures. In addition, the Company provides support products and programs, including the CORE pack and the BASIC pack, each containing a variety of supplies in a single sterile pouch. Diomed Holdings also sells a Tumescent Delivery System (TDS) pump that semi-automates the application of tumescent anesthetic during the EVLT procedure. The Company also has the maximizing business achievement (MBA) program, which allows its customers access to a range of practice development and marketing tools, including print advertising, radio advertising, Website construction, Website referrals, reimbursement assistance, multimedia patient information and education tools. Diomed Holdings carries on its business primarily through its wholly owned subsidiaries, Diomed, Inc. and Diomed, Ltd. Endovenous Laser Treatment (EVLT) Laser Treatment EVLT is a minimally invasive laser procedure for the treatment of varicose veins caused by greater saphenous vein reflux. The EVLT product line is marketed as a clinical solution that includes a laser, disposable kit, clinical training, customized marketing programs plus other complimentary products that support basic EVLT strategy, to assist office-based and hospital-based physicians in responding to the demand for treatment of varicose veins. In September 2001, the Company received the CE mark of the European Economic Union for approval for endovenous laser treatment with respect to marketing EVLT in Europe. In January 2002, Diomed Holdings received the United States Food and Drug Administration (FDA0 clearance for endovenous laser treatment of the greater saphenous vein. In December 2004, the Company received FDA clearance to expand the application of EVLT to other superficial veins in the lower extremities. EVLT was the Company's primary source of revenue during the year ended December 31, 2005 A direct sales force is used to market products in the United States and a network of more than 30 distributors to market products abroad. In August 2005, Diomed Holdings entered into a three-year agreement with Luminetx, Inc. to acquire distribution rights to the VeinViewer Imaging System for the sclerotherapy, phlebectomy and varicose vein treatment markets in the United States and United Kingdom. In June 2005, the Company entered into a distribution agreement with Med1 Online, Inc., an online distributor of capital medical equipment in the United States. Under the terms of the three-year renewable distribution agreement, Med1Online acquired distribution rights to market the EVLT product line to the obstetrics-gynecology and plastic surgery physician market segments in the United States. Cancer Treatments Utilizing Photodynamic Therapy The Company has received FDA clearance for use of its lasers and optical fibers in PDT cancer treatments. The PDT product line of photodynamic therapy solutions uses Diomed Holdings' own laser technology. When used in combination with a photosensitizing drug, PDT provides the cancer therapy. PDT requires three-interacting elements: a photosensitive drug that is absorbed by cancerous and abnormal cells; a light source (laser) of a specific wavelength that activates the drug, and a delivery system, including a thin optical-fiber to guide the light source to the target area. Photodynamic therapy technology is only effective when these three components are working in concert. Fibers and Disposable Items To address medical conditions with minimally invasive techniques, Diomed Holdings offers physicians an integrated clinical solution, including laser an

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