By FRANK NELSON
NEWS-PRESS STAFF WRITER

A range of medical treatments and devices, anchored by a seemingly insatiable national and worldwide demand for breast implants, continues to prove a winning combination for local companies Inamed Corp. and Mentor Corp. — and their stockholders.

Inamed shares opened the year at $31.22 and closed at $48.05, handsome growth made even more impressive by a 3-for-2 stock split during the year. Mentor also enjoyed a profitable year, opening at $39.34 and closing at $24.06 but after a 2-for-1 stock split and paying investors a total cash dividend of 36 cents per share.

Last year, both companies stepped into the controversial waters surrounding the reintroduction of silicone breast implants, readily available overseas but not in the U. S. for more than a decade because of related health concerns.

At the start of 2004, the Food and Drug Administration is still looking for more research data and other information about the safety of the devices and it is by no means certain either company will get the green light even by year's end.

Inamed, which now employs around 1,000 people worldwide, roughly 400 of them in Goleta, is preparing to broaden its range of facial aesthetics in 2004, company spokesman Peter Nicholson said.

With obesity continuing to dominate as a major health issue around the world, sales of Inamed's LAP-Band are also expected to remain robust through 2004.

This adjustable gastric pouch, invented by Vern Vincent, who still works at Inamed, is implanted using minimally invasive surgery. The procedure can be reversed and, according to Mr. Nicholson, is very much safer than alternative gastric bypass operations.

Mentor's chairman and chief executive officer is bullish about the outlook for 2004. "Our financial position continues to be strong," Chris Conway said. "We have an exciting pipeline of new products and the resources to support further growth. We are looking forward to an exciting year ahead."

The Santa Barbara-based company recently posted record quarterly sales of $106.5 million, 13 percent ahead of the same quarter last year. Breast implant sales grew 23 percent, and there were other stellar performers, too.

Aesthetic surgery sales were up 24 percent, body-contouring (liposuction) products grew 36 percent and sales of women's health products — including the ObTape implant for stress incontinence, which was introduced in September — grew 55 percent.

Mr. Conway said Mentor's next generation product, Puretox, represents a major opportunity for the company.

"Botulinum toxin injections are the fastest growing cosmetic procedure today at more than 1.5 million procedures a year," he said.

This could be a huge year for Santa Barbara-based Miravant Medical Technologies, according to the company's manager of investor relations, Tom Herrick.

He said after about 13 years and $300 million, the company expects to file with the FDA by the end of the first quarter seeking approval for a new drug treatment for the eye disease wet age-related macular degeneration. He said the company hopes to hear from the FDA later this year.

Miravant has based this and other treatments on its PhotoPoint technology, a minimally invasive medical procedure which uses light-activated drugs to selectively target diseased cells and blood vessels in highly specific areas of the body.

Though ophthalmology is the main immediate focus, Miravant sees great potential in the photodynamic treatment of cardiovascular disease, certain cancers and tumors, and the chronic skin condition psoriasis.

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