Healthcare Industry News: hyperbaric chamber
News Release - February 23, 2009
Environmental Tectonics Corporation's BioMedical Division's Hyperbaric Chambers Address U.S. President Obama's Initiative to Computerize Medical RecordsSOUTHAMPTON, Pa., Feb. 23 (Healthcare Sales & Marketing Network) -- Environmental Tectonics Corporation (Amex: ETC ; "ETC" or the "Company") today announced that their BioMedical Division's hyperbaric chambers are equipped to satisfy the requirements of Electronic Medical Records (EMR) compilation.
In a speech at George Mason University on January 8, 2009, then President-Elect Barack Obama stated, "...To improve the quality of our health care while lowering its costs, we will make the immediate investments necessary to ensure that within five years, all of America's medical records are computerized......"
On February 17, 2009 President Obama signed into law an $838 billion economic stimulus bill that would provide $19 billion to implement electronic health records and other information technology.
The sentiments expressed by President Obama and indicated in the stimulus package regarding Electronic Medical Records (EMR) have been foreseen and ETC is poised to meet the challenges of EMR with O.S.C.A.R.(TM) (Operating System for Control And Recordkeeping). This advanced recordkeeping system is included on all of ETC's chambers. This technology is an important characteristic of our BARA-MEDŽ and BARA-MEDŽ XD monoplace hyperbaric chambers.
O.S.C.A.R.(TM) is the integrated computerized basis of our monoplace hyperbaric chambers. The technology in O.S.C.A.R.(TM) offers a comprehensive EMR of the Hyperbaric Oxygen Therapy (HBO) treatment received by each patient.
hyperbaric chambers are used in HBO which is a non-invasive procedure where the patient breathes 100% oxygen while fully enclosed in a specially designed chamber at increased atmospheric pressure. HBO is the primary treatment for carbon monoxide poisoning, arterial gas embolism and decompression sickness. It is also used to promote and support healing in the management of conditions in which oxygen transport to the tissues has been disrupted by traumatic injury, infection, inflammation, or edema.
Gene Davis, President of the BioMedical Division, stated, "Hospitals are turning to ETC's equipment to prepare for the upcoming changes in EMR. The HBO industry demands the best and latest technology and ETC's chambers meet that challenge. As wound care clinics and hospitals go paperless, the full benefit of the BARA-MEDŽ and BARA-MEDŽ XD chambers will be appreciated with integration of O.S.C.A.R.(TM)."
ETC designs, develops, installs and maintains aircrew training systems (aeromedical, tactical combat and general), disaster management training systems and services, entertainment products, sterilizers (steam and gas), environmental testing products, hyperbaric chambers and related products for domestic and international customers.
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on ETC's current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC's and its subsidiaries that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
These forward-looking statements include statements with respect to the Company's vision, mission, strategies, goals, beliefs, plans, objectives, expectations, anticipations, estimates, intentions, financial condition, results of operations, future performance and business of the company, including but not limited to, (i) potential additional funding by Lenfest, (ii) the potential delisting of the Company's common stock from the American Stock Exchange as a result of the Company's failure to comply with the AMEX listing standards, (iii) projections of revenues, costs of materials, income or loss, earnings or loss per share, capital expenditures, growth prospects, dividends, capital structure, other financial items and the effects of currency fluctuations, (iv) statements of our plans and objectives of the Company or its management or Board of Directors, including the introduction of new products, or estimates or predictions of actions of customers, suppliers, competitors or regulatory authorities, (v) statements of future economic performance, (vi) statements of assumptions and other statements about the Company or its business, (vii) statements made about the possible outcomes of litigation involving the Company; (viii) statements regarding the Company's ability to obtain financing to support its operations and other expenses, and (ix) statements preceded by, followed by or that include the words, "may," "could," "should," "looking forward," "would," "believe," "expect," "anticipate," "estimate," "intend," "plan," or the negative of such terms or similar expressions. These forward-looking statements involve risks and uncertainties which are subject to change based on various important factors. Some of these risks and uncertainties, in whole or in part, are beyond the Company's control. Factors that might cause or contribute to such a material difference include, but are not limited to, those discussed in the Company's Annual Report on Form 10-K for the fiscal year ended February 29, 2008, in the section entitled "Risks Particular to Our Business." Shareholders are urged to review these risks carefully prior to making an investment in the Company's common stock. The Company cautions that the foregoing list of important factors is not exclusive. Except as required by federal securities law, the Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.
Source: Environmental Tectonics
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