Veterans' Administration West Los Angeles Health Care Center Adopts the SurgiCount Safety-Sponge(TM) System Technology.LOS ANGELES -- 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 agreed to provide its patented Safety-Sponge(TM) System for the prevention of retained sponges after surgery to the Veterans' Administration West Los Angeles
absorbable gauze gauze made from oxidized cellulose. , lap sponges and surgical towels to this new customer later this month through Professional Hospital Supply, a provider of custom procedure trays (CPT CPT
See: Carriage Paid To ) to the VA. Financial terms were not disclosed.
"The Safety-Sponge System is an important advance in surgical care, and we are pleased to make this exciting technology a standard element of surgical practice at our West Los Angeles medical center, one of the highest-volume surgical centers in the VA network. The Safety-Sponge System is an important step forward in addressing the VA's initiative to lead the nation in patient safety," said Tim Goheen, Director of Preoperative pre·op·er·a·tive
Preceding a surgical operation.
preceding an operation.
the preparation of a patient before operation. Nursing for the VA's Greater Los Angeles Healthcare System and Chairman of the VA's National Operating Room operating room
n. Abbr. OR
A room equipped for performing surgical operations. Advisory Group.
Rick Bertran, President of SurgiCount Medical, said, "This is our first government order, and complements the contracts we already have won with a number of private healthcare providers. This also is an especially important order for SurgiCount because the VA's West Los Angeles Health Care Center has traditionally been an opinion leader in the VA healthcare network. Our Safety-Sponge System is currently being evaluated by major hospitals, which we believe will lead to additional supply agreements. With the many millions of surgical procedures performed each year in the U.S. alone, we believe our Safety-Sponge System represents an outstanding long-term growth opportunity."
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.
This contract is the second of the two contracts SurgiCount received that was announced in our press release dated July 25, 2006.
About The VA Greater Los Angeles Healthcare System
The VA Greater Los Angeles Healthcare System is the largest integrated healthcare organization in the Department of Veterans Affairs with 945 operating and authorized beds, 3,500 employees, and an operating budget approaching $500 million. It is a tertiary care tertiary care Managed care The most specialized health care, administered to Pts with complex diseases who may require high-risk pharmacologic regimens, surgical procedures, or high-cost high-tech resources; TC is provided in 'tertiary care centers', often facility classified as a Clinical Referral Level 1 Facility, and is a teaching hospital, providing a full range of patient care services, with state-of-the-art technology as well as education and research. The VAGLAHS VAGLAHS Veterans Administration Greater Los Angeles Healthcare System is a part of VA Network 22, which includes facilities in Los Angeles, Long Beach, San Diego, Loma Linda, and Las Vegas, Nevada.
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 email@example.com 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.