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The prototype has successfully passed the company's preliminary testingphase. The tests confirm the potential of the prototype to significantlyreduce preventable drug-related injuries in hospitals.
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The purpose of the patented device is to physically prevent medicationadministration errors in hospitals. The device includes a syringe lockingmechanism that works in concert with a bar-code reader and database system.
The device uses a barcoded system to electronically confirm whether thesyringe held by a medical practitioner contains the correct medication anddosage that has been prescribed to a particular patient, before allowing thatmedication to be physically administered.
"Medication administration errors in hospitals cause 400,000 preventabledrug-related injuries and 70,000 deaths each year," said Jacob Elhadad, ChiefExecutive Officer of Medisafe 1 Technologies. "The preliminary tests of thepatented locking-device prototype give us tremendous confidence that ourproduct may aid in significantly reducing instances of such injuries."
"As the healthcare industry in the U.S. continues to mandate the usage ofsafer syringe technologies, including Barcoding Point of Care (BPOC) systems,Medisafe 1 Technologies is well positioned. Factoring the possibility ofwidespread implementation, the total potential addressable market forMedisafe's patented technologies could exceed $1 billion per year," Elhadadadded.
About Medisafe 1 Technologies
Medisafe 1 Technologies seeks to effectively prevent unauthorizedadministration of a drug or medicinal substance by hypodermic needle.Medisafe's patented technology is a medical assembly with a locking mechanismthat is intended to ensure the substance cannot be released from thehypodermic needle without positive pre-matching between the substance and itsintended patient.
Forward-Looking Statements
This letter contains forward-looking statements within the meaning ofSection 27A of the Securities Act of 1933 as amended and Section 21E of theSecurities Exchange Act of 1934 as amended. All forward-looking statementsare inherently uncertain, based on current expectations and assumptionsconcerning future events or future performance of Medisafe 1 TechnologiesCorp., and its technologies. In evaluating such statements, prospectiveinvestors should review carefully various risks and uncertainties identifiedin this release, as actual results may differ materially from thoseindicated. Medisafe 1 Technologies Corp. public filings may be viewed athttp://www.sec.gov.Contact: JACOB ELHADAD CEO +972-524440000 [email protected]
SOURCE Medisafe 1 Technologies Corp.
