COMPANY TO BENEFIT FROM TWO PATENTS RELATING TO MEDICATION DISPENSING SYSTEMS; ENHANCES COMPANY'S LEADERSHIP POSITION.CLEARWATER, Fla.--(BUSINESS WIRE)--January 17, 1995--Medical Technology Systems, Inc. (Nasdaq/NM:MSYS MSYS Multiple Database System ) announced today that it has entered into agreements to license the rights to two patents which relate to the Company's medication dispensing dispensing provision of drugs or medicines as set out properly on a lawful prescription. A prescription can only be filled, the drugs supplied, by a registered pharmacist, veterinarian, dentist or member of the medical profession. systems. Todd E. Siegel, president and chief executive officer of Medical Technology Systems, Inc., said, "These two important patents enhance the Company's ability to introduce unique products. In today's competitive marketplace, it is not enough to merely introduce and manufacture technologically advanced products; it is also essential to have a patent strategy in order to preserve the distinctive technological advantages of those products." The first patent available for use by the Company is the result of a recently formed joint venture with MedVantage, Inc., located in Shawnee Mission, Kansas Shawnee Mission, Kansas is a name created by the United States Postal Service to describe an area (Zip Code 662xx) of Johnson County, Kansas that contains numerous towns. The following towns are included in this area. . The technology encompassed by the patent will allow enhancements that ensure the Company will continue its successful development of its MedServ product. In addition, the newly formed joint venture will develop a device to control patient self-administration according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. prescribed drug therapy and will provide caregivers with important medication administration records medication administration record Hospital practice A computer-generated schedule for administering medications to a Pt for a defined period of time, including physician's orders and time to adminster the agents . The second patent is available to the Company through a licensing agreement with the U. S. Department of Commerce's National Technical Information Service, acting on behalf of the Department of Veteran's Affairs. This license will provide Medical Technology Systems, Inc. with additional patent protection and enhanced features for its MedTrak electronic medication blister blister, puffy swelling of the outer skin (epidermis) caused by burn, friction, or irritants like poison ivy. A response of the body to protect deeper tissue, blisters generally contain serum, the liquid component of blood. card. Medical Technology Systems, Inc. and its subsidiaries manufacture and market proprietary packaging and dispensing systems for prescription medications, package and distribute medications in unit dose packages, and develop and support comprehensive hospital pharmacy A hospital pharmacy is concerned with pharmacy service to all types of hospital and differs considerably from a community pharmacy. Some pharmacists in hospital pharmacies may have more complex clinical medication management issues whereas pharmacists in community computer software. The Company's primary customers are nursing home and hospital pharmacies interested in a more economical and efficient way to package, dispense, administer, monitor and document the use of patient medications. The Company is ideally positioned to benefit from the healthcare industry's pursuit of lower cost alternatives. CONTACT: Medical Technology Systems, Inc., Clearwater Gerald L. Couture, 813/576-6311 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion