Urologix said it has a 10-year license to sell Prostiva, a therapy from Medtronic that uses radio frequency to treat enlarged prostates.
Urologix said the addition of Prostiva will help increase the company's market penetration and complement its signature product, Cooled ThermoTherapy. That product uses microwave technology to treat enlarged prostates. Combined, the two products will bring in sales of $18 million to $20 million in the fiscal 2012 year, Urologix said.
CEO Stryker Warren Jr. called the agreement "transformative" for the Minneapolis-based business.
Both Prostiva and Urologix's Cooled ThermoTherapy treat BPH, an enlarged prostate condition that impacts more than nine million men in the nation.
Urologix reported a net loss of $3.7 million for its fiscal year ending June 30. That's compared to a net loss of $2.2 million a year earlier. Sales for the year were $12.6 million, down 15 percent.
The company's stock was selling at $1.02 a share, up 12 cents.
