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Thu, July 16, 2009
Wed, July 15, 2009
E-18 Corporation: Corp. Profile: Protectus Medical Devices, With the Only Automatic Self-Sheathing Hypodermic Safety Syringe in
MINNEAPOLIS, MN--(Marketwire - July 15, 2009) - E-18 Corp. (
The Company's lead product, the Protectus Medical Safety Syringe, formerly the SquareOne Medical Safety Syringe, is a patented, automatic, self-sheathing hypodermic safety syringe. The Protectus Medical Safety Syringe is designed to significantly reduce or eliminate accidental needlestick injuries that have plagued the healthcare workplace for decades. "There are conservatively 600,000 to 1,000,000 needlestick injuries per year among healthcare workers, and this is grossly under-reported," said Dr. John Salstrom, President and CEO of Protectus Medical Devices. "We believe that the Protectus Medical Safety Syringe will have a significant impact in reducing or eliminating needlestick injuries and therefore will potentially save the lives of thousands of doctors, nurses and other healthcare workers.
"We also believe that the Protectus Medical Safety syringe has the potential to save our healthcare system billions of dollars per year in costs related to needlestick injuries and their federally mandated follow-up and reporting activities," Dr. Salstrom continued. "The hypodermic syringe market is 55% of the overall syringe (percutaneous) market and, as the only fully automatic, self-sheathing safety device in the industry, we are confident that our lead product will have a significant impact in the marketplace. After full comparison clinical trials, the Company received 510(k) permission from the FDA to manufacture and market the Protectus Medical Safety Syringe in the U.S. Owing mainly to the fact that the design of the Protectus device was conceived out of the results of extensive interviews with healthcare workers and users most at risk in the workplace, the Protectus Medical Safety Syringe is user-friendly and effective, giving the user the protection and confidence needed to do his/her job efficiently without the fear of injuries from contaminated needles.
"In addition to our lead product, we are also in the process of completing the designs for several other key products in our family of safety syringe products," Dr. Salstrom said. "We believe that these unique and patentable safety medical (percutaneous) devices will add significant value to the Company. These additional products will include: a) a Safety Dental Syringe, b) a Safety IV Catheter, c) a Safety Phlebotomy (blood-drawing) device, d) a manually operated safety syringe for use in certain international markets, as well as specific applications within the United States and e) a safety insulin syringe. We will continue to keep our shareholders and the public informed about the Company's developments as we work to bring these new innovative products to market."
More information about Protectus Medical Devices may be found at the Company's corporate web site at [ www.protectusmedical.com ].
About E-18 Corp.
E-18 Corp., through its wholly owned subsidiary SquareOne Medical, Inc., doing business as Protectus Medical Devices, develops and markets innovative safety medical percutaneous devices that, collectively, have the potential to dramatically reduce needlestick injuries for medical professionals worldwide. In the nearly $5 billion global hypodermic syringe market, the Protectus Safety Syringe, the Company's lead product, is the only fully automatic, self-sheathing hypodermic safety syringe that currently meets the functional definition of "Self-Sheathing" mandated by the U.S. Federal Government. None of the manufacturers of other devices on the market can make this claim. Protectus Medical Devices has successfully patented its automatic self-sheathing hypodermic safety syringe product, and, based on the results of full comparison clinical trials, the Protectus Safety Syringe (formerly the SquareOne Safety Syringe) has received the required 510(k) permission from the U.S. FDA to manufacture and market the device in the U.S. More information about the Company may be found at [ www.protectusmedical.com ].
Forward-Looking Statements
Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. Additional information on risks and other factors that may affect the business and financial results of E-18 Corp. can be found in the filings of E-18 Corp. with the U.S. Securities and Exchange Commission.