MINNEAPOLIS - (Business Wire) Protectus Medical Devices, Inc. ("Protectus Medical Devices") (OTCBB: PTMD), a developer and marketer of innovative medical devices, today released a letter to shareholders from Dr. John Salstrom, President and Chief Executive Officer, providing investors with management’s vision for the company in the remainder of 2009 and beyond. Dear Shareholders:
As Chief Executive Officer of Protectus Medical Devices, it is my pleasure to communicate with you today and provide you with a few details of our various corporate initiatives and discuss our plans for the future. Our intent is to regularly inform current and potential investors of our progress as Protectus Medical Devices becomes uniquely positioned in the medical safety syringe market.
As you have discovered through our increasing newsflow, Protectus Medical Devices has developed and patented a revolutionary safety syringe that has the potential to dramatically reduce needlestick injuries for medical professionals worldwide.
The Protectus Safety Syringe utilizes a spring-biased sheath that automatically locks and instantly protects the needle tip if the user loses intentional control of the device. Our patented design is used in essentially the same manner as any standard syringe with little special training or in-service instruction.
Although a prick from a needle may seem innocuous at first glance, the costs of these needlestick injuries weigh heavily on society, in both monetary and human terms. Accidental needlestick injuries can lead to the transmission of more than 20 bloodborne diseases, including: AIDS, hepatitis, tuberculosis and other life-threatening diseases. Despite current safety precautions, there are an estimated 600,000 to 1 million accidental injuries from conventional syringes and sharps every year in the United States alone, and these are grossly under-reported.(1)
Each needlestick costs roughly $3,000 for testing, equating to well over $3 billion spent on administration and follow-up healthcare costs every year.(2) These numbers exclude the astronomical costs for treatment of diseases actually contracted through needlestick injuries.
The Protectus Safety Syringe is the only fully automatic, self-sheathing safety hypodermic syringe that currently meets all U.S. Federal Government and OSHA mandates designed to protect both healthcare workers and patients alike.
Although there are many competing safety-syringes on the market, all require an intentional, conscious action by the user to deploy the safety feature, thus causing many of the same problems as conventional needles, which are soon to be phased out under Federal Law.
In order to achieve our growth initiatives, Protectus plans to start selling finished product in the market using contract manufacturing at an FDA-approved site. Because the Protectus device is the only Safety Syringe that is automatically self-sheathing, there is a remarkable opportunity for us to capture significant market share.
From a production standpoint, I am pleased to report that we are nearing the final stages of signing a contract with a manufacturer for production of the Protectus Safety Syringe and have narrowed the field to a select few. Based on preliminary estimates, we anticipate that the Protectus Safety Syringe will be priced at the low end of the spectrum on the distributor level.
Protectus is not limiting its focus to the US market. In fact, we are also focused on the global 30 billion-syringe market. We recently received international patent-pending status in 141 countries for the safety syringe, giving the Protectus a year and a half of protection as we file individually in each country of our choosing.
We are also adapting Protectus’ innovative technology to a variety of other medical devices, including a Safety Dental Syringe, a Safety IV Catheter and a Safety Phlebotomy, or “blood-drawing”, device. Protectus has already announced the patent filing for the Safety Dental Syringe, and looks forward to announcing the completed filings for additional safety devices in the near future, as well as significant new features of the dental syringe patent, already filed.
The time for the Protectus Safety Syringe has truly arrived, both as a device that could potentially revolutionize the healthcare system, and simultaneously protect countless healthcare workers from needlestick injuries.
On the corporate side of our business, we have chosen consummate experts in their related fields to enhance our team, which now includes Michael D. Shepard, who joined our Board of Directors this month. Mr. Shepard will certainly be an asset to Protectus, with over 30 years of executive level experience, including his role as CEO of a company that developed and patented the first mobile IV system.
I thank you for your attention and support. For further and constantly updated information, please visit our website at www.protectusmedical.com. For access to our latest Investor Fact Sheet, as well as overview videos and industry information, please navigate to www.trilogy-capital.com/autoir/ptmd_autoir.htm.
I look forward to communicating with you again soon.
Sincerely,
Dr. John Salstrom
President and CEO
Protectus Medical Devices, Inc.
(1) “Needle-Free Drug Injection and Safety Syringes,” 2008, Kalorama Information.
(2) Ibid.
About Protectus Medical Devices, Inc. (formerly, E-18 Corp.)
Protectus Medical Devices, Inc. (PTMD, formerly, E-18 Corp.), through its wholly owned subsidiary, SquareOne Medical, Inc., 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 Protectus Medical Devices, Inc. (formerly, E-18 Corp.) can be found in the filings of Protectus Medical Devices, Inc. with the U.S. Securities and Exchange Commission.
Company Contact:
Protectus Medical Devices, Inc.
John Salstrom, President and CEO
1-800-778-8438
moreinfo@protectusmedical.com
or
Financial Communications Contact:
Trilogy Capital Partners
Darren Minton, Vice President
Toll-free: 800-592-6067
info@trilogy-capital.com
