BOCA RATON, Fla., July 18, 2011 /PRNewswire/ -- American Scientific Resources, Inc. ("American Scientific Resources" or the "Company") (OTCQB: ASFX) today announced that it has signed an exclusive distribution agreement with SHAAG Medical Group, a newly-formed company of the SHAAG Medical Group of companies, located in Jerusalem, Israel, for distribution of American Scientific Resources' VeraTemp non-contact thermometer lines in the State of Israel, including the West Bank and the Gaza Strip.
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Under the terms of the agreement, which has escalating minimum unit requirements each year of the agreement, ASFX has received the exclusive right to sell American Scientific Resources' KidzMed VeraTemp, a retail thermometer product, and VeraTemp+, the company's professional thermometer product, for an initial period of two and a half years. The minimums are 600 units for the duration of this year; 2,400 during 2012 and 4,800 for 2013.
The VeraTemp non-contact thermometers are American Scientific Resources' innovative, highly accurate thermometry technology. These infrared non-contact thermometers can easily measure temperature of all patients without touching the patients' skin which is especially useful when working with babies, children, and elderly patients. Because the VeraTemp non-contact thermometers do not require the use of wasteful and expensive probe covers, the non-contact thermometer is totally hygienic and poses no risk for cross contamination The VeraTemp+ professional version of the thermometer is ideally suited for use in clinics, hospitals, emergency medical services, long-term care facilities, schools and other public settings. The consumer Kidz-Med VeraTemp product line is available at Amazon.com, Bartell Drugs, CVS Pharmacies, Target.com, Costco.com, Samsclub.com, Diapers.com, DuaneReade, Fred Meyer, Price Chopper, Pamida, Walmart.com, Giant, RiteAid.com and Drugstore.com. In the United States, the professional VeraTemp+ product line is available to be purchased by end users from School Health, Emergency Medical Products, Mercy Surgical and McKesson.
About Shaag Medical Group
Founded in 1992 by Eyal Greenbaum, Shaag Medical Group is a privately held company located in Jerusalem. In addition to the newly-formed subsidiary, the company is made up of an additional four individual companies including:
- Shaag Medical Services Ltd., which specializes in resuscitation, trauma and emergency medicine training equipment; monitoring equipment and respiratory equipment and AED defibrillators;
- Shaag Medical Clinics Ltd., which operates two different multi-disciplinary medical clinics with 50 professional doctors, nurses and staff serving more than 10,000 individuals;
- Gaya Medical Ltd., a young medical equipment company that focuses on aesthetic and plastic surgery, diagnostic electronic equipment such as monitors, ECG, blood pressure monitors and all related disposable and consumables, neurology equipment and vascular devices; and
- G3 Medical Projects, a large scale project branch focusing on telemedicine and providing fully integrated turn-key medical services packages including consulting, planning, designing, purchasing, installing and training and servicing solutions company through its team of doctors and experts, service engineers and financial CPA's.
About American Scientific Resources, Inc.
American Scientific Resources, Inc. is a purpose-driven consumer product manufacturer specializing in the clinical, home healthcare, infant and juvenile products industries. The Company sources and designs innovative health and safety products, developing advanced technology and intellectual property. The Company's products, which include infrared thermometers and safe disposal systems for home use of sharps and needles associated with certain health care issues, are distributed through established relationships in-house and through an ever growing network of leading global healthcare distributors and retailers. Brands under the American Scientific Resources umbrella include Kidz-Med, Disintegrator Plus and VeraTemp.
For more information, visit the corporate website at www.americansci.com, www.kidzmed.com and www.disintegratorplus.com.
Forward Looking Statements
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act. There can be no assurance that any of the Company's products will be sold pursuant to its agreement with SHAG Medical Group.
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