Medi-Hut Announces a New Safety Engineered Medical Device Product.Business Editors Joseph A. Sanpietro, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Medi-Hut (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on SC: MHUT) announced "Medi-Hut has signed an Exclusive License Agreement for a patented safety engineered IV Catheter catheter /cath·e·ter/ (kath´e-ter) 1. a tubular, flexible surgical instrument that is inserted into a cavity of the body to withdraw or introduce fluid. 2. urethral c. system that greatly reduces the risk of an accidental accidental /ac·ci·den·tal/ (ak?si-den´t'l) 1. occurring by chance, unexpectedly, or unintentionally. 2. nonessential; not innate or intrinsic. needle stick every time it is used. The catheter market in the U.S. was reported to be 261 million units or $340-588 million during 2000. We believe our patented catheter will capture a significant percentage of the market and positively add to Medi-Hut's revenues and net income for years to come." The uniquely designed `closed-hub' (sealed) patented safety catheter we feel is easier to use than any other safety catheter in the marketplace, is totally responsive to the needs and concerns of healthcare workers, and is the only safety engineered catheter incorporating all of these features: -- Automatic needle protection -- Bloodless IV starts -- Built-in optional Heparin/Saline lock -- Revolutionary new flash chamber -- Simplified training -- Sterile cannulations assured -- Safe and easy blood draws/samples -- Additional proximal injection port -- Optimized design features including no looping, better sensitivity, easier injections etc. -- Additional automatic safety features include preventing blood regurgitation/improves sterility -- Improved IV success rates Mr. Sanpietro concluded "Medi-Hut wants to bring this uniquely designed and patented safety catheter to the marketplace and add it to the safety engineered product line we currently offer. Medi-Hut will begin the 510K process and then bring the patented catheter through the manufacturing process and into the marketplace as quickly as possible." Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 27A of the Securities Act of 1933, Section 21 E of the Securities Exchange Act of 1934, and as that term defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The Company intends that such forward-looking statements be subject to the safe harbors Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results. |
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