Venetec International Announces 7 New Patents.SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- Venetec International, Inc. today announced government issuance of seven new patents on the company's StatLock(R) safety securement technology for medical catheters and tubing. Five of the new patents were issued 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. , plus an additional two patents in Australia. The company also announced favorable resolution of a trademark issue concerning action that had been contemplated by Medtronic, Inc. The seven new patents encompass several StatLock devices, both existing products and those contemplated for future applications. The new patents follow the issuance last year of another 30 domestic and foreign patents. "We consider Venetec's intellectual property portfolio to be the crown jewel Crown jewel A particularly profitable or otherwise particularly valuable corporate unit or asset of a firm. Often used in risk arbitrage. The most desirable entities within a diversified corporation as measured by asset value, earning power, and business prospects; in takeover of the company," said 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. Gene Starr. "In light of these new patents and other favorable developments regarding IV catheter standards, we remain very optimistic about the prospects for continued accelerated growth." On the trademark issue, Starr noted that Medtronic had recently elected to withdraw its application in the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community for a trademark similar to Venetec's protected StatLock mark. "It is Venetec's policy to actively develop and protect our intellectual property," Starr said. "We are very pleased by issuance of the new patents and this successful resolution in the European Union." The world leader in safety securement of catheters and medical tubing, Venetec now has 234 patents and patents pending. These cover not only products in production, but also future products and potentially competitive ideas. Catheter stabilization devices (a category that includes StatLock) are highlighted in new national Standards just issued by the Infusion Nurses Society (INS INS abbr. 1. Immigration and Naturalization Service 2. International News Service Noun 1. INS ). The Standards for the first time state a preference for use of a manufactured catheter stabilization device. In a related change, the INS guidelines for controlling catheter-related infections now recommend the evaluation of catheter stabilization devices to reduce these infections. StatLock is the only evidence-based catheter stabilization device that currently meets the new national standards. INS is the world's leading medical society dedicated to IV infusion and IV safety, and does not endorse or recommend specific products. StatLock products are currently sold to more than 3,000 U.S. hospitals and used in more than 30 countries. Venetec's technology replaces tape and suture suture /su·ture/ (soo´cher) 1. sutura. 2. a stitch or series of stitches made to secure apposition of the edges of a surgical or traumatic wound. 3. to apply such stitches. 4. securement, the traditional but problem-plagued methods of stabilizing catheters. The device's superior technology reduces vascular-device-related complications and infections, as documented in numerous studies. The device is used in settings ranging from the neonatal ICU ICU intensive care unit. ICU abbr. intensive care unit ICU see intensive care unit. ICU to the nursing home. Venetec International's IV safety securement products are contained in more than 95 percent of extended-use catheter kits in the U.S., and its peripheral IV catheter products are used hospital-wide in more than 300 healthcare facilities in the U.S. Venetec has agreements for StatLock usage with many healthcare organizations, including Novation The substitution of a new contract for an old one. The new agreement extinguishes the rights and obligations that were in effect under the old agreement. A novation ordinarily arises when a new individual assumes an obligation to pay that was incurred by the original party , Premier, Inc., and the Veterans Health Administration. StatLock devices are included in safety infusion systems made by Baxter Healthcare, B. Braun, Arrow International, BD (Becton Dickinson), Kendall/Tyco, C.R. Bard, Cook, Inc., and others. For more information, call (800) 833-3895 or access www.StatLock.com. |
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