MiniMed Introduces New Infusion Set For Diabetes Treatment.Business Editors NORTHRIDGE, Calif.--(BUSINESS WIRE)--March 20, 2001 The Quick-set(TM) offers new features for people using insulin pump insulin pump n. A portable device for people with diabetes that injects insulin at programmed intervals in order to regulate blood sugar levels. therapy MiniMed Inc. (Nasdaq: MNMD) today announced the introduction of the Quick-set infusion set An infusion set is used with an insulin pump as part of intensive insulin therapy. The purpose of an infusion set is to deliver insulin under the skin. It is a complete tubing system to connect an insulin pump to the pump user: it includes a subcutaneous cannula, adhesive mount, for use with insulin pump therapy for the treatment of diabetes. The Quick-set combines the most favorable features of existing infusion sets into one product, including a low-profile disconnect at the infusion site and a 90-degree soft cannula cannula /can·nu·la/ (kan´u-lah) a tube for insertion into a vessel, duct, or cavity; during insertion its lumen is usually occupied by a trocar. can·nu·la or can·u·la n. pl. . As with MiniMed's other sets, the Company also offers an auto insertion device An insertion device is a part of a synchrotron which produces highly-brilliant, forward-directed and quasi-monochromatic synchrotron radiation. The name comes from the fact that these are devices which are inserted into a straight section of a synchrotron or a storage ring. , enabling the Quick-set to be inserted virtually painlessly at the touch of a button. Maersk Medical A/S, a Danish company, manufactures the Quick-set exclusively for MiniMed Inc. Commenting on this new product, Alfred E. Mann Alfred E. Mann (born 1925, Portland, OR), who is also known as Al Mann, is an American entrepreneur and philanthropist. He is a billionaire. Born and raised in Portland, his father was English and mother Polish. , Executive Chairman, stated, "We are very pleased to offer the patented Quick-set to our customers, which also contains a safe needle disposal system to protect users from accidental sticking. MiniMed's insulin infusion pumps have provided diabetes patients with freedom from the daily regimen of multiple daily injections, and now the Quick-set adds additional benefits, providing a new choice for the treatment of diabetes." Terrance Gregg, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , stated, "The Quick-set is the most advanced infusion set on the market and is yet another example of MiniMed's commitment to product innovation and responsiveness to our customers' needs. This new set performed extremely well in patient evaluations, and we are delighted to bring to market a new product which makes pump therapy even easier to use." MiniMed Inc. designs, develops, manufactures and markets advanced infusion systems with a primary emphasis on the intensive management of diabetes. The Company's products include external pumps and related disposables, a first generation continuous glucose monitoring glucose monitoring Lab medicine The periodic evaluation of any analyte abnormal in Pts with DM, to assess short and long-term control with antiglycemic agents. See Glucose, Glycated hemoglobin. system as well as exclusive marketing rights to an implantable insulin pump, which is currently approved for distribution in the European Community and has not yet been cleared for marketing in the U.S. The Company is also developing new infusion systems to deliver compounds designed to treat a variety of medical conditions. This Press Release contains statements that are forward-looking, including statements relating to the development, regulatory approval, manufacture, introduction, distribution, and commercial acceptance of new products are made pursuant to the Safe Harbor 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. provisions of 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. Investors are cautioned that, although MiniMed believes that its expectations are based on reasonable assumptions, forward-looking statements involve risks and uncertainties which may affect MiniMed's business and prospects, including changes in economic and market conditions, acceptance of MiniMed's products by the health care and reimbursement communities, health care legislation and regulation, new developments in diabetes therapy, the ability to obtain administrative and regulatory approvals for products currently in development, competitive developments, changes in MiniMed's capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. , and other factors discussed in the Company's filings with the Securities and Exchange Commission. While to the best of the Company's knowledge, the information presented in this release is accurate; the Company disclaims any obligation to update the information provided herein. |
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