Misonix, Inc., a surgical device company, has terminated product license and distribution agreement with PuriCore, Inc. for the sale of PuriCore's Vashe System. Misonix and PuriCore have signed a Settlement Agreement resolving all issues.

As a result of the termination of the agreement, Misonix will no longer be obligated to pay the remaining minimum gross profit balance of $1.3 million. The company previously recorded in fiscal 2013 all appropriate amounts.

Michael A. McManus jr., president and CEO said, "We are pleased to place this matter behind us and move forward with our core business. We will continue to look for appropriate add on products to purchase or distribute that are synergistic to the core procedures and to our surgeons in the spine and wound care businesses."

Misonix, Inc. designs, develops, manufactures and markets therapeutic ultrasonic medical devices. Misonix's therapeutic ultrasonic platform is the basis for several innovative medical technologies.