Contract Anticipates Additional Developments of Passive Needlestick Prevention Technology
Lexington, KY – September 28, 2009 – MedPro Safety Products, Inc. (OTCBB: MPSP), a pioneer in the development and marketing of passive needlestick injury prevention technology, entered into an exclusive agreement with Advanced MedTech (AMT). AMT is wholly owned by Hooman Asbgahi, the inventor of MedPro’s phlebotomy products, marketed by our customer as the Tube-Touch and Skin-Touch models.
Under the agreement’s terms, AMT will provide MedPro with R&D, market research, product design and development, engineering and other services as directed by MedPro. MedPro has the first right of refusal to all intellectual property in which Mr. Asbaghi has an interest and products he develops.
“This exclusive agreement with Advanced MedTech solidifies our relationship with one of the leading innovators in passive needlestick injury prevention,” said Walter Waller, MedPro President and COO. “We believe that Mr. Asbaghi’s fully-passive designs provide healthcare providers with superior needlestick risk management, and with our manufacturing and distribution partner, we are very excited to introduce them to the marketplace. We foresee a long and fruitful relationship with Mr. Asbaghi as we work together to develop new passive technologies for our product portfolio.”
Mr. Asbaghi is expert in design, research and development of new medical safety technologies. He has filed more than 100 United States and worldwide patents since 1995, including designs for fully passive injection needles and blood collection holders. He is a multi-dimensional inventor, with interests in safety needle technology for laboratories, dental offices, and angiocatheters. Leading medical device manufacturers have in the past licensed or acquired several of his inventions.
About MedPro Safety Products, Inc.
Headquartered in Lexington, Kentucky, MedPro Safety Products, Inc. (OTCBB: MPSP - News) has developed and acquired a portfolio of medical safety products incorporating proprietary needlestick prevention functionalities. For additional information, please refer to the ‘Investor Relations’ link on the Company’s website (http://www.medprosafety.com).
Safe Harbor Statement
This release includes forward-looking statements based upon current expectations of the management of MedPro Safety Products, Inc. that involve risks and uncertainties, such as plans, objectives, expectations and intentions. Actual results and the timing of events could differ materially from those anticipated in these forward- looking statements as a result of a number of factors, including our ability to identify and acquire medical safety device safety technologies with product development potential; our ability to successfully develop and bring products to market, including obtaining regulatory approvals; our ability to successfully increase sales of our products; our ability to obtain additional financing on satisfactory terms; our ability to attract and retain qualified employees; and governmental regulation associated with the medical safety products industry. Words such as "anticipate," "estimate," "plan," "continuing," "ongoing," "expect," "believe," "intend," "may," "will," "should," "could," and similar expressions are used to identify forward-looking statements. We refer you to the more detailed discussion of risks and uncertainties under "Risk Factors" in our Annual Report on Form 10-K and our other reports on file with the Securities and Exchange Commission.
Doug Sherk/Stacey Fisher/Mike Pollock