SHPI Enters Development and OEM Supply Agreement with Bard Access Systems for New Safety PEG Introducer Needle.BOUNTIFUL, Utah Bountiful is a city in Davis County, Utah, United States. As of the 2000 census, the city population was 41,301, a small increase over the 1990 figure of 37,544. The estimated population in 2004 was 41,173, a slight decrease from 2000. -- Specialized Health Products International, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : SHPI SHPI Symposium on High Performance Interconnects ) announced today that it has entered into a worldwide, exclusive Development and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and Supply agreement with Bard Access Systems Inc. for safety PEG introducer needles, which Bard will place in its enteral enteral /en·ter·al/ (en´ter'l) enteric. en·ter·al adj. 1. Within or by way of the intestine, as distinguished from parenteral. 2. Enteric. feeding kits. Eating, digesting, and absorbing nutrients from food are basic to life. Enteral feeding into a functioning GI tract is a method for providing nutritional support nutritional support, n the supply of foods and liquids necessary to advance healing and support health. for patients who cannot or will not eat on their own. PEG devices are percutaneous endoscopic gastrostomy percutaneous endoscopic gastrostomy See PEG. ("PEG") tubes, which are endoscopically inserted through the skin for feeding directly into a patient's stomach. SHPI's safety PEG introducer needle provides for placement of PEG devices. This proprietary, new product line is based upon SHPI's SecureLoc(TM) technology, which provides an integral safety solution for long needles and catheter introducers. Under the terms of the agreement, Bard Access Systems, a leader in the estimated $150 million enteral feeding market, will purchase safety PEG introducer needles from SHPI subject to specified minimum purchase requirements. SHPI will also receive reimbursement for certain expenses related to product commercialization. Bard Access System's initial sales of the SecureLoc(TM) safety PEG introducer needle are anticipated to begin in the fourth quarter of 2006. Jeff Soinski, 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 SHPI, said, "We are excited to partner with Bard Access Systems for the development and marketing of this important new product, which we believe has the potential to be the first specialized safety PEG introducer needle available. This is our third OEM supply agreement for SHPI manufactured products based upon our SecureLoc(TM) platform technology, having previously announced supply agreements with Tyco Healthcare Tyco Healthcare was the former healthcare division of Tyco International Ltd. On June 29, 2007 it became a wholly independent publicly traded company named Covidien Ltd. and Merit Medical Systems for other product applications." About Specialized Health Products International, Inc. Specialized Health Products International, Inc. ("SHPI") is a leading developer, manufacturer and marketer of proprietary disposable medical devices for clinician and patient safety. SHPI has developed multiple safety needle products based upon two primary patented technology platforms, FlexLoc(R) and SecureLoc(TM), which apply to virtually all medical needles used today. SHPI manufactures and markets certain products, including LiftLoc(R) and MiniLoc(TM) Safety Infusion Sets, under its own label. It licenses or supplies other products to leading manufacturers and marketers in the global disposable medical products industry, including Tyco Healthcare, Bard Access Systems, and BD Medical Systems. For more information about SHPI, visit the company's website at www.shpi.com. This news release contains 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 the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in future operating results due to a number of economic conditions, risks in product and technology development, the effect of the Company's accounting policies and other risk factors detailed in the Company's SEC filings. These factors and others could cause operating results to vary significantly from those in prior periods and those projected in forward-looking statements. Additional information with respect to these and other factors, which could materially affect the Company and its operations, are included on certain forms the Company files with the Securities and Exchange Commission. |
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