TUCSON, AZ--(Marketwire - March 25, 2013) -
CDEX Inc. (OTCQB: CDEX
), a leading developer of chemical detection products using patented technologies for use in healthcare, safety and security markets, today announced the company completed and shipped the 10 unit order of its ValiMed™ CCT drug validation system to Al-Essa Medical & Scientific Equipment Company in Safat, Kuwait ahead of schedule. The shipment completes the sale secured in December of 2012. The units will be placed in service at medical facilities throughout the region along with testing supplies for initial operation. Each unit placed requires additional service for installation and ongoing product support by CDEX for two years from the date of delivery.
"The on time completion and delivery of the 10 CCT units is a demonstration of our team's ability to execute timely. The future sales of supplies and service related to the initial transaction of these units will further our recurring sales and service revenue. The Al-Essa Group will utilize the ValiMed systems to underpin their client's efforts help assure the highest patient safety and to fight narcotics diversion in the healthcare systems they serve," stated Jeff Brumfield, chairman and chief executive officer of CDEX. "Our agreement with Al-Essa Group provides CDEX Inc. access to markets in the Middle East and could be a key foothold to build our international reach in the Middle East for our Valimed technology. We intend to showcase the Valimed G4 system to their customers once final testing is completed and the contracted units are shipped to U.S. customers during the second quarter this year."
CDEX was contracted to deliver the 10 ValiMed CCT units in the first quarter of 2013 and receive final payment balance of the order within thirty days of shipment. The company will provide the initial training and support to Al-Essa's technical staff and the Al-Essa trainers and service personnel will then take full responsibilities for installation and training for their clients once both parties are satisfied with the aptitude and proficiency.
The ValiMed™ Medication Validation and Narcotics Return System (Model CCT), is a lightweight, compact table top instrument that can be used in virtually any clinical environment where high-risk IV medications are compounded before being dispensed to the patient, or where narcotics are returned after being dispensed. CDEX's ValiMed drug validation technology helps healthcare providers ensure patient safety and control costs by reducing medication errors and mitigating drug diversion. The patented & patent pending detection process identifies drugs in real-time, validating medication and treatment solutions authenticity and specificity.
About Al-Essa Group
For over 30 years, professionals in healthcare, analytical and various other industries have experienced Al-Essa's proven commitment to deliver total solutions to clients in both private and public institutions, in Kuwait and GCC. With a long and proven experience in introducing cutting-edge healthcare and analytical equipment from world-class manufacturers, their activities range from supplying products, supporting applications and providing maintenance for medical and analytical needs, address human resource requirements through supplemental staffing and home healthcare programs, and deliver complete solutions in facility engineering. To date, Al-Essa has executed several projects on a turnkey basis by combining local project management and project support expertise with international technology partners. For more information visit www.alessakuwait.com
About CDEX Inc.
CDEX develops, manufactures and globally distributes products to the healthcare, safety and security markets. The ValiMed™ product line provides life-saving validation of high-risk medications and pharmacy returned narcotics. The ID2™ product line detects trace amounts of illegal drugs, such as methamphetamine. CDEX expects to advance its patented technologies to serve additional markets in the future where its proprietary products can be launched. To learn more about CDEX please visit: www.cdex-inc.com.
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