Healthcare Industry News: Ampion
News Release - May 22, 2006
Inviro Medical Gains Momentum as It Moves Toward Launch of Innovative Safety Syringes; Secures $12 Million Funding, Appoints New Board Members, Receives EndorsementsATLANTA, May 22 (Healthcare Sales & Marketing Network) - As Inviro Medical (www.inviromedical.com) prepares for a North American product launch in June, the maker of the InviroSNAP!(R) Safety Syringe and the Inviro Safety System product line has taken significant actions to propel its market position by securing an additional $12 million round of funding, appointing two new board members and obtaining endorsements from prominent healthcare organizations. Dr. Tony Holler, formerly chief executive officer of ID Biomedical Corporation, and Inviro Medical CEO Gareth Clarke were appointed to the board on April 27.
"The completion of our funding, which involved both individual and institutional investors, will allow us to rapidly implement our launch plans in the American and Canadian markets," said Clarke, who grew the Biogel surgical glove business to a global market leadership position before joining Inviro Medical in March 2005 as CEO. "In addition," said Clarke, "we are delighted Tony Holler joined our board. His front line medical background and successful corporate experience will be major assets to us as we prepare to roll out our patented line of safety syringes."
Holler was one of the original founders of ID Biomedical and held a number of executive positions with the company, including president and CEO. He resigned from the vaccine manufacturing company in December 2005 upon the completion of its acquisition by GlaxoSmithKline for $1.4 billion. Holler played a leading role in securing the $12 million round of funding for Inviro.
"I was attracted to the Inviro Medical opportunity by the combination of a first class management team and outstanding technology, which I believe can achieve a very significant share of the $1.6 billion, rapidly growing safety syringe market," said Holler.
Inviro also has secured endorsements from HealthShare/Texas Hospital Association (THA) and Oklahoma Hospital Association (OHA) Preferred Savings Network. These organizations serve nearly 700 hospitals and healthcare facilities.
"These endorsements represent a tremendous vote of confidence in our company and in the InviroSNAP! Safety Syringe," says Clarke. "We believe our patented manually retractable technology represents a clear alternative to the other types of safety syringes currently available. Healthcare workers will benefit from its availability and performance."
While most safety syringes are retro-fitted using add-on pieces, the uniquely engineered InviroSNAP! Safety Syringe looks and functions like a traditional syringe and is easy to use. With hand and fingers safely positioned behind the needle, the clinician administers the dose, pulls the plunger back -- causing the needle to retract inside the barrel -- and snaps off the plunger, permanently disabling the device. The InviroSNAP! Safety Syringe helps organizations protect employees, comply with industry regulations, and reduce the potential risk and costs associated with needlesticks.
"Designed by a practicing nurse and surgeon -- motivated by concerns about the severe medical, psychological and economic consequences of accidental needlestick injuries -- well in advance of legislative mandates, this device protects healthcare workers by reducing potential exposure to bloodborne pathogens," explains Clarke.
OSHA estimates that 8 million workers in the healthcare industry are at risk of occupational exposure to bloodborne pathogens, including human immunodeficiency virus (HIV), hepatitis B virus (HBV) and others. All occupational exposure to blood or other potentially infectious materials place workers at risk for infection with bloodborne pathogens.(1)
(1) Source: U.S. Department of Labor, Occupational Health and Safety Administration, Hospital e-Tool 2006
About Inviro Medical
Founded in 1988, Inviro Medical is a medical device company that engineers and markets safe medication delivery systems. After years of research to develop its patents and refine its product designs, the company is now poised to address the growing $2.8 billion safety syringe market and is currently introducing its breakthrough technology in North America. Headquartered in Atlanta, Inviro Medical is becoming a leading industry chAmpion in the quest to protect healthcare workers, patients and the environment with innovative medical devices. For more information, visit http://www.inviromedical.com/.
About HealthShare/Texas Hospital Association (THA)
HealthShare/THA is based in Austin, and offers a wide variety of carefully selected services for Texas healthcare facilities. The company has been serving hospitals in Texas and surrounding states since 1969. As a wholly-owned subsidiary of the Texas Hospital Association (THA), HealthShare/THA returns revenues to the association in support of its mission, goals and activities. Founded in 1930, THA is the leadership organization and principal advocate for the state's hospitals and health care systems. THA enhances its members' abilities to improve accessibility, quality and cost-effectiveness of health care for all Texans. One of the largest hospital associations in the country, THA represents nearly 85 percent of the state's hospitals and health care systems, which employ some 320,000 health care professionals statewide. For more information, visit http://www.healthshare-tha.com/.
About Oklahoma Hospital Association's (OHA) Preferred Savings Network
Established in 1919, the Oklahoma Hospital Association (OHA) represents more than 125 hospitals and health care entities across the state of Oklahoma. OHA's primary objective is to promote the welfare of the public by leading and assisting its members in the provision of better health care and services for all people. The OHA Preferred Savings Network is a preferred vendor network for Oklahoma Hospital Association member hospitals. OHA Preferred Savings Network, through its affiliation agreement with HealthShare/THA, conducts ongoing performance reviews and offers valuable services and products to members. Participants in the OHA Preferred Savings Network benefit from significant cost and time savings, while being assured of continuous quality monitoring. For more information, visit http://www.okoha.com/.
Source: Inviro Medical
Issuer of this News Release is solely responsible for its
Please address inquiries directly to the issuing company.