Healthcare Industry News: Bard
News Release - May 31, 2006
SHPI Enters OEM Supply Agreement with ICU Medical for SecureLoc(TM) Safety Introducer NeedleBOUNTIFUL, Utah--(HSMN NewsFeed)--May 31, 2006--Specialized Health Products International, Inc. (OTCBB: SHPI ), a manufacturer and marketer of proprietary safety medical devices, today announced that it has entered into an OEM supply agreement with ICU Medical, Inc. (NASDAQ: ICUI ) for SHPI's SecureLoc(TM) Safety Introducer Needle.
Under the terms of the agreement, ICU Medical, a leader in the field of proprietary needless medical connectors for use in intravenous ("I.V.") therapy applications and a producer of custom I.V. systems, will purchase SecureLoc(TM) safety introducer needles from SHPI subject to specified minimum purchase requirements.
"ICU Medical is a long-standing leader and innovator in safety medical products," said Jeff Soinski, President and CEO of SHPI. "We are pleased to be selected by ICU to supply our SecureLoc(TM) Safety Introducer Needle for inclusion in several of their procedure kits and trays. This is the second long-term OEM supply agreement we have announced for SecureLoc(TM) Safety Introducer Needle, since market launch in December 2005."
SecureLoc(TM) Safety Introducer Needle is SHPI's first marketed product line based upon its SecureLoc(TM) platform technology, which provides an integral safety solution for long needles and catheter introducers. SHPI has product license or OEM supply agreements in place with BD Medical, Tyco Healthcare, and Bard Access Systems for other product applications of its SecureLoc(TM) platform technology.
Available in a variety of needle lengths and gauges, SecureLoc(TM) Safety Introducer Needle provides direct vascular access in a proprietary safety device designed to prevent accidental needlesticks, a leading occupational cause of the spread of blood borne diseases such as Hepatitis B and C and Human Immunodeficiency Virus ("HIV").
About Specialized Health Products International, Inc.
Specialized Health Products International, Inc. ("SHPI") is a leading developer, manufacturer and marketer of proprietary disposable medical devices for clinician and patient safety. SHPI has developed multiple safety needle products based upon two primary patented technology platforms, FlexLoc® and SecureLoc(TM), which apply to virtually all medical needles used today. SHPI manufactures and markets certain products, including LiftLoc® and MiniLoc(TM) Safety Infusion Sets, under its own label. It licenses or supplies other products to leading manufacturers and marketers in the global disposable medical products industry, including Tyco Healthcare, Bard Access Systems, and BD Medical Systems. For more information about SHPI, visit the company's website at www.shpi.com.
About ICU Medical, Inc.
ICU Medical, Inc. is a leader in the development, manufacture and sale of proprietary, disposable medical connection systems for use in intravenous ("I.V.") therapy applications. Its devices are designed to protect patients from Catheter Related Bloodstream Infections and healthcare workers from exposure to infectious diseases through accidental needlesticks. ICU Medical is also a leader in the production of custom I.V. systems, many of which incorporate its proprietary products. They are also a significant manufacturer of critical care medical devices, including catheters, angiography kits and cardiac monitoring systems.
This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in future operating results due to a number of economic conditions, risks in product and technology development, the effect of the Company's accounting policies and other risk factors detailed in the Company's SEC filings. These factors and others could cause operating results to vary significantly from those in prior periods and those projected in forward-looking statements. Additional information with respect to these and other factors, which could materially affect the Company and its operations, are included on certain forms the Company files with the Securities and Exchange Commission.
Source: Specialized Health Products International
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