Melville, New York, March 16, 2010 - Bovie Medical Corporation (the “Company”) (NYSE Amex: BVX), a manufacturer and marketer of electrosurgical products, today announced its financial results for the fourth quarter and year ended December 31, 2009.

Revenues for the quarter ended December 31, 2009 totaled $6,533,177 as compared to $7,137,838 for the comparable period last year, resulting in *net income of $27,388 or $.00 per diluted share as compared to net income of $38,767 or $.00 per diluted share during the comparable period in the prior year.

Revenues for the year-ended December 31, 2009 were $26,953,447 as compared to $28,096,510 for the comparable period in 2008. *Net income for the year-ended December 31, 2009 totaled $595,222 or $.03 per diluted share compared to net income of $1,831,788 or $.11 per diluted share in the comparable period in 2008.

The decline in revenues during 2009 was primarily attributable to a general slowdown in purchasing by hospitals and physicians’ offices caused by the current economy and political uncertainty surrounding the medical industry. Net income was impacted by a substantial increase in professional fees, litigation expenses (including a one-time settlement payment of $160,000) and expenses related to the occupancy of the Company’s new facility located in Clearwater, Florida. Gross profit margins increased almost 2% in 2009 from 2008, primarily due to stricter cost controls and improved sales mix.

*Prior to filing our Annual Report on Form 10-K for the year ended December 31, 2009, we amended the computation of deferred tax assets and the related income tax benefit. In preparing our 2009 income tax returns, we initiated a review of our net operating loss carryforwards which were initially fully used in 2008.  During this review we became aware that since as early as 2003 we had not taken a tax deduction for the taxable compensation issued to holders of certain Non-Qualified Stock Options as a result of their exercise of such options (the difference between the exercise value and the amounts booked as a deduction).  As a result of this review we determined that our net operating losses were understated.  Prior to 2007, management determined that the deferred tax assets related to net operating losses and credits might not be realizable and, accordingly, maintained a valuation allowance against them.   During the year ended December 31, 2007, management determined that such valuation allowances were no longer necessary, and accordingly, the valuation allowances were reversed, resulting in a benefit for income taxes being recorded for the anticipated utilization.  Because management would have also concluded that the additional deferred tax assets resulting from the increase in net operating losses were fully realizable, we have included the entire amount as income in 2007 as an income tax benefit (approximately $1.555 million).  There was no effect on the 2008 consolidated statement of income; however this adjustment did result in an increase in amounts refundable, an increase in deferred tax assets and the allocation of such assets between current and non-current in 2007.  The Company’s current liquidity increased by approximately $65,000 and $79,000 for 2007 and 2008, respectively, as a result of these changes.  The effect on the fourth quarter and for the year ended December 31, 2009 was a tax benefit of approximately $152,000.

NEW PRODUCT DEVELOPMENT ACTIVITIES DURING YEAR

Resistick II

Resistick II is coating applied to stainless steel which resists eschar (scab or scar tissue caused by burning) during surgery.  Since receiving 510(k) clearance at the end of December, the Company has received initial contractual sales commitments. Coated electrodes continue the expansion of the Bovie line of electrosurgical disposables.

Sintered Steel

The proprietary sintered steel technology is a stainless steel sponge that allows saline to flow through it in conjunction with radiofrequency energy creating a stick-resistant coagulation effect minimizing bleeding during surgery. Bovie’s first commercialized sintered device, SEER™ is a single-use monopolar electrosurgical electrode used for dissection and coagulation of soft tissue. Late in 2009, we launched a laparoscopic version of SEER™; procedures using the SEER™ and Lap SEER™ have been performed in both liver and kidney resections in over 20 institutions domestically and internationally with continued positive surgeon feedback.

Bovie submitted a 510k application for marketing of its newest sintered steel product BOSS™, a bipolar sintered steel electrocautery device.  The device will be primarily targeted to orthopedic surgeons performing hip and knee arthroplasty procedures; a market comprised of approximately 1.1 million procedures performed in the US annually.  The estimated worldwide market for the sintered steel technology is in excess of $500 million.

Vessel Sealing

The Company recently received 510(k) clearance to market its ICON™ VS generator designed to perform vessel sealing procedures, while providing both monopolar and bipolar energy options to the surgeon. The clearance of the ICON™ VS generator allows the Company to complete testing required in support of its previously filed 510(k) for Seal-N-Cut™ vessel sealing instruments.

The Seal-N-Cut™ devices accommodate a wide array of possible applications in either monopolar or bipolar surgeries thereby serving endoscopic needs in multiple endoscopic fields including Endo GYN, general surgeries, pediatric surgery, thoracic endoscopy and urology. Bipolar vessel sealing and coagulation is one of the fastest growing markets in endoscopy, estimated to exceed $1 billion in revenues worldwide.  As part of the planning for the manufacturing and the commercialization of the Company’s Seal-N-Cut™ product line, all Canadian operations are being transferred to our new Florida facility.

J-Plasma™

J-Plasma™ technology utilizes a gas ionization process producing a stable thin beam of ionized gas that can be controlled in a wide range of temperatures and intensities, providing the surgeon great precision, and an absence of conductive currents during surgery. The J-Plasma™ portfolio consists of a proprietary generator, which regulates the helium gas flow, while controlling the precise energy and rate of current simultaneously delivered depending on the clinical use.  The computer assisted combination of gas flow and energy profile is adjustable to suit a specific clinical use. The J-Plasma™ disposable handpieces are designed for ease of use in all surgical fields allowing expansion into multiple markets. 

Potential markets include gynecology, urology, dermatology, plastic surgery, neurology, gastroenterology, and veterinary medicine. Bovie received FDA marketing clearance for J-Plasma™ in the second half of 2009 and continues to perform research on this platform in the areas of soft tissue coagulation in OB/GYN, GI surgery and dermatology. 

The manufacturing and development of multiple systems has commenced with the goal of distributing to physicians and surgeons in the above mentioned specialties.   Additionally, we are studying the performance of our plasma technology in promoting wound healing, viral eradication and oncologic applications. Bovie expects commercialization of its J-Plasma™ system in 2010.

Andrew Makrides, president of Bovie, stated, “Subsequent to receiving 510(K) clearance for our new products, we anticipate commercialization of our proprietary technologies either through agreements with other companies and/or independently.”

Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws.  Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.

Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected.  Many of these factors are beyond the Company’s ability to control or predict.  Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission.  For forward-looking statements in this new release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.  The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

For further information about the Company’s current and new products, please refer to the Investor Relations section of Bovie’s website www.boviemedical.com.

 
Melville, New York, March 12, 2010 - Bovie Medical Corporation (the “Company”) (NYSE-AMEX Symbol: BVX), a manufacturer and marketer of electrosurgical products, today announced the Company received clearance from the Food and Drug Administration (FDA) to market its ICON VS electrosurgical generator. The generator has been designed to perform vessel sealing procedures, providing both monopolar and bipolar energy options to the surgeon. The clearance of the ICON VS generator allows the Company to complete testing required in support of the previously filed vessel sealing instrument 510(k) application.
 
The fully digital ICON VS generator has a user-friendly touch-screen interface allowing the surgeon flexibility to choose from a variety of electrosurgical effects. The monopolar and bipolar functions satisfy a wide variety of surgical demands needed during surgeries including vessel sealing.
 
The estimated annual worldwide vessel sealing market is approximately $1 billion.
 
Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws.  Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.
 
Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected.  Many of these factors are beyond the Company’s ability to control or predict.  Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission.  For forward-looking statements in this new release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.  The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

For further information about the Company’s current and new products, please refer to the Investor Relations section of Bovie’s website www.boviemedical.com.

 
Melville, New York, March 8, 2010 - Bovie Medical Corporation (the “Company”) (NYSE-AMEX Symbol: BVX), a manufacturer and marketer of electrosurgical products, today announced that it has employed Mr. Leonard Keen, Esq. as Vice President and General Counsel, effective March 2, 2010.  Mr. Keen is responsible for managing the Company’s legal and strategic affairs, and working as a member of the executive management team to strengthen operations for growth and competitiveness. 

“We are pleased that Mr. Keen has joined Bovie at this time.  He is multi-skilled and will be involved in areas of the Company’s business development requiring his legal and technical advice,” stated Andrew Makrides, President and Chief Executive Officer of Bovie Medical.

Prior to joining the Company, Mr. Keen has worked as an attorney, business executive, entrepreneur and technologist.  He served as a partner with Kaplan, Ward & Patel, an associate with Allen Dyer Doppelt Milbrath & Gilchrist and a solo practitioner where he specialized in intellectual property and business law.  He also served as Vice President of Legal and Strategic Affairs at Kinetics, Inc. (a NCR Subsidiary) and as Chief Information Officer at Payroll Transfers, Inc.  

Mr. Keen received a Bachelor of Science degree in Chemistry/Mathematics from the University of Miami and a Juris Doctor, with honors, from the University of Florida Levin College of Law.  In addition to being a U.S. registered patent attorney and member of the Florida Bar, Mr. Keen has extensive experience in the technical, business and executive management fields.

An employment agreement with Mr. Keen was entered into on March 2, 2010, and as part thereof, he was awarded a restricted non-qualified stock option for an aggregate of 100,000 shares of common stock, exercisable at the closing price on that date.  The option has a ten year term and vests over seven years, or at the rate of 14.29 percent per annum.  This press release is issued in accordance with the exemption afforded under Section 711(a) of the NYSE AMEX Company Guide which exempts certain stock option grants made as an inducement to employment from the stockholder approval requirement.

For further information about the Company’s current and new products, please refer to the Investor Relations section of Bovie’s website www.boviemedical.com.

Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws.  Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.

Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected.  Many of these factors are beyond the Company’s ability to control or predict.  Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission.  For forward-looking statements in this new release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.  The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

 
Melville, New York, January 7, 2010 - Bovie Medical Corporation (the “Company”) (NYSE Amex: BVX), a manufacturer and marketer of electrosurgical products, today announced the signing of a supplier agreement between Medline Industries and Amerinet for Bovie branded electrosurgical generators and accessories. Amerinet is one of the largest group purchasing organizations in the United States with over 2,400 member hospitals. The supply agreement names Bovie Medical through Medline Industries and one other manufacturer as suppliers of electrosurgical equipment and accessories.

Medline is one of the world’s largest distributors of hospital supplies and has exclusive distribution rights to Bovie branded generators in the United States. The Medline Industries/Bovie Medical agreement replaces a previous contract holder that generated multi-million in sales of supplies and equipment over the 3 year contract term to Amerinet member hospitals.

Andrew Makrides, CEO of Bovie Medical Corp., commented, "This agreement is significant to Bovie for it gives Amerinet network members access to some of the most advanced electrosurgical technology in the marketplace." About Medline Industries: Medline, the nation's largest privately held manufacturer and distributor of healthcare products, manufactures and distributes more than 100,000 products to hospitals, extended care facilities, surgery centers, home care dealers and agencies and other markets. Headquartered in Mundelein, IL, Medline has more than 800 dedicated sales representatives nationwide to support its broad product line and cost management services. Over the past five years, Medline has been the fastest growing distributor of medical and surgical supplies in the U.S., serving as the primary distributor to over 250 major hospitals and health care systems. As a leading distributor, Medline offers a comprehensive array of consulting and management services encompassing the supply chain and logistics, utilization and standardization, business tools and enhanced reporting capabilities, and on-staff clinicians. www.medline.com

About Amerinet: As a leading national healthcare group purchasing organization, Amerinet strategically partners with acute and alternate care providers to reduce costs and improve quality through its performance solutions. Built on a foundation of data, savings and trust, and supported by a team of clinical and supply chain experts, Amerinet enriches healthcare delivery for its members and the communities they serve. www.amerinet-gpo.com

For further information about the Company’s current and new products, please refer to the Investor Relations section of Bovie’s website www.boviemedical.com.

This document may contain some forward looking statements, particularly regarding operational prospects in 2009 and beyond, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risks are listed from time to time in the Company’s SEC filings.