INTEGRIS Health System Enters Three Year Contract for SurgiCount's Safety-Sponge(TM) System Technology across Its Entire 11 Hospital Network.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- SurgiCount Medical, a wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. of Patient Safety Technologies, Inc. (AMEX AMEX
See: American Stock Exchange :PST PST Paroxysmal supraventricular tachycardia, see there ), announced today that it has entered into a three-year agreement to provide its patented Safety-Sponge(TM) System for the prevention of retained sponges after surgery to the entire network of INTEGRIS Health System, Oklahoma's largest not-for-profit health care organization. This new contract will take the Safety-Sponge System from two hospitals currently to the entire network which includes eleven hospitals. Financial terms were not disclosed.
"We're very happy that INTEGRIS has become our first health care system to incorporate SurgiCount's Safety-Sponge System network-wide," said Bill Adams For the American football player, see .
William Adams (born November 3 1902 in Tynemouth, died 15 March 1963) was an English footballer who played for Southampton, West Ham United and Southend United. , Chief Executive Officer of SurgiCount, "and we're extremely pleased with the rate of adaptation of the System."
SurgiCount Medical received FDA FDA
Food and Drug Administration
n.pr See Food and Drug Administration.
n.pr the abbreviation for the Food and Drug Administration. 510(k) clearance to market and sell its Safety-Sponge System in March 2006, and is the only computer-assisted system for counting sponges cleared by the FDA. The Safety-Sponge System is an integrated turn-key program of thermally affixed af·fix
tr.v. af·fixed, af·fix·ing, af·fix·es
1. To secure to something; attach: affix a label to a package.
2. , data matrix tagged surgical sponges, line-of-sight scanning technology, and documentation that offers surgeons and hospitals a solution to gossypiboma -- the term for surgical sponges accidentally left inside a human body after surgery. Based on estimates and assumptions made by Patient Safety Technologies management, gossypiboma occurs in an estimated 3,000 to 5,000 surgical procedures Surgical procedures have long and possibly daunting names. The meaning of many surgical procedure names can often be understood if the name is broken into parts. For example in splenectomy, "ectomy" is a suffix meaning the removal of a part of the body. "Splene-" means spleen. each year in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. alone, and liability settlements and other costs related to retained sponges amount to an estimated $500 million to $750 million annually.
About INTEGRIS Health
INTEGRIS Health owns, manages or leases hospitals, primary care clinics, mental health facilities, rehabilitation centers, fitness centers, hospice services, home health agencies and independent living centers throughout the state of Oklahoma. INTEGRIS Health is an Oklahoma-owned, not-for-profit corporation A not-for-profit corporation is a corporation created by statute, government or judicial authority that is not intended to provide a profit to the owners or members. A corporation that is organized to provide profits to its owners or members is a for-profit corporation. . Our mission is to improve the health of the people and the communities we serve. More information about INTEGRIS Health facilities and services is available on our home page at www.integrisOK.com or by calling the INTEGRIS HealthLine at (405) 951-2277 or toll free at (800) 951-2277.
About SurgiCount and the Safety-Sponge(TM) System
SurgiCount Medical's Safety-Sponge System works much like a grocery store check-out system. Every surgical sponge and towel is pre-labeled by the manufacturer with an individual and unique bar coded label, and a scanning counter is used to read and record the labels. No change is required in a hospital's established counting procedures: sponges are counted and recorded by the system at the beginning of the procedure and again as they are removed from the patient. For more information, visit www.surgicountmedical.com.
About Patient Safety Technologies, Inc. (AMEX:PST)
Patient Safety Technologies, Inc. (PST) is a holding company that owns assets in various businesses. Its wholly-owned subsidiary, SurgiCount Medical, Inc., is a developer and manufacturer of patient safety products and services. For more information on Patient Safety Technologies, Inc., please contact the company directly at 310-895-7750, or by email at firstname.lastname@example.org or www.patientsafetytechnologies.com.
This press release contains certain forward-looking statements. These forward-looking statements can generally be identified as such because the context of the statement will include words such as Patient Safety Technologies plans, expects, should, believes, anticipates or words of similar import. Stockholders, potential investors and other readers are cautioned that these forward-looking statements are predictions based only on current information and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward-looking statements. Certain of those risks and uncertainties are discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K Form 10-K
A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.
See 10-K. and quarterly reports on Form 10-Q Form 10-Q
See 10-Q. . These forward-looking statements are only made as of the date of this press release and Patient Safety Technologies does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.