Equidyne Corporation Announces Successful Passage of NeedleStick Safety and Prevention Act into Law.Business Editors and Health/Medical Writers WESTFORD, Mass.--(BW HealthWire)--Nov. 9, 2000 -The U.S. House of Representatives (H.5178) and U.S. Senate (S.3067) pass Needlestick Safety and Prevention Act and President Clinton signed new bill into law- EQUIDYNE CORPORATION (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :INJX) praised the U.S. Congress and President Clinton on the passage of this very important piece of legislation designed to protect health care workers from needlestick injuries. The legislation includes a requirement that the Secretary of Labor, acting through the Occupational Safety and Health Administration Occupational Safety and Health Administration (OSHA), U.S. agency established (1970) in the Dept. of Labor (see Labor, United States Department of) to develop and enforce regulations for the safety and health of workers in businesses that are engaged in interstate ("OSHA OSHA n. Occupational Safety and Health Administration, a branch of the US Department of Labor responsible for establishing and enforcing safety and health standards in the workplace. "), amend the existing bloodborne pathogens standard to require that employers utilize needleless systems and safety needles in their worksites, and that reporting requirements related to needlestick injuries are strengthened. There are over 800,000 needlestick accidents reported in hospitals each year, and it is estimated that over 40% of such accidents go unreported. Needlestick accidents have caused the transmission of various diseases, including HIV/AIDS HIV/AIDS Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome and the Hepatitus B and C viruses. In addition, the cost of diagnosis and treatment for needlestick accidents in the U.S. is estimated to be in excess of a billion dollars annually. The needle-free technology employed by Equidyne's INJEX(TM) System addresses the major concerns behind this new law by eliminating the possibility of accidental needlesticks. J. Randall Nelson, President and Chief Executive Officer, stated, " We are extremely pleased to be able offer a safe and economical alternative to the needle. The INJEX(TM) needle-free drug delivery system was created to eliminate the trauma of needle injections as well as the inherent risk of needlestick incidents, and we believe that Equidyne is uniquely positioned to meet the challenge of this important new legislation. We have the sales team, the distribution and the production capacity in place to provide health care workers with a safe alternative to the needle." Equidyne Corporation (www.equidyne.com) through Equidyne Systems, Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. based in San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. , and Rosch AG Medizintechnik, based in Berlin, Germany are focused on making the INJEX(TM) System the worldwide leader in needle-free drug delivery for subcutaneous subcutaneous /sub·cu·ta·ne·ous/ (sub?ku-ta´ne-us) beneath the skin. sub·cu·ta·ne·ous adj. Abbr. s.c., SQ Located, found, or placed just beneath the skin; hypodermic. and intramuscular injections. Equidyne is responsible for the U.S., Canada, South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. and the Asian markets while Rosch AG is responsible for the European market. The INJEX(TM) needle-free injector is a compact, uncomplicated device that delivers a virtually painless injection through the skin in a fraction of a second, and eliminates needlestick and disposal problems. For medications requiring injection, we believe the INJEX(TM) System is by far the most comfortable and economical product on the market. The statements contained in this news release that are not purely historical and are forward-looking statements that may involve risks and uncertainties. The Company's actual results may differ significantly from the results contained in the forward-looking statements. Factors that might cause such differences include, but are not limited to, the effect of losses and other factors on the Company's credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities , business and results of operations; the Company's limited capital resources and its ability to fulfill its existing obligations and ongoing capital needs; risks associated with excess or obsolete inventory Obsolete Inventory Term that refers to inventory that is at the end of its product life cycle and has not seen any sales or usage for a set period of time usually determined by the industry. This type of inventory has to be written down and can cause large losses for a company. ; the potential impairment of assets; the Company's dependence on key customers and their financial viability; the impact of competition; and the Company's abilities to effectively manage growth. These and other risk factors are discussed in the Company's filings on Forms 8-K, 10-QSB and 10-KSB. (c) 2000 BusinessWire |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion