TUCSON, AZ--(Marketwire - December 12, 2012) -
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 secured an order for 10 units of its ValiMed™ CCT drug validation system from Al-Essa Medical & Scientific Equipment Company in Safat, Kuwait. The company expects to deliver the units with testing supplies and signatures in the first quarter 2013. The initial sales agreement calls for additional fees for installation of the CCT units and product support for two years from the date of delivery.
CDEX received the initial deposit of one hundred and ninety nine thousand dollars for the ten ValiMed machines, which enabled the company to begin the procurement of materials and initiate final assembly of the units. CDEX is contracted to deliver the units in the first quarter of 2013 and will receive the final payment balance of the order within thirty days after shipment. The company will provide the initial training and support to Al-Essa's technical staff, and once both parties are satisfied with the competency and abilities of the Al-Essa trainers, they will then take full responsibilities for installation and training for their clients.
"We are very pleased to secure the single largest international order for our ValiMed systems in the company's history. We anticipate future sales for supplies and service related to the initial sale of these units. With this order, the Al-Essa Group and CDEX Inc. have entered into an agency relationship which allows CDEX Inc. access to markets in the Middle East that otherwise would not be possible. The ValiMed systems will reinforce their client's efforts to fight narcotics diversion in the healthcare systems they serve," stated Jeff Brumfield, chairman and chief executive officer of CDEX.
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.
Safe Harbor Statement
Non-historical statements are forward-looking, as defined in federal securities laws, and generally can be identified by words such as "expects," "plans," "may," "believes," "should," "intends," and similar words. These statements pose risks that cannot be accurately predicted. Consequently, results may differ materially from those expressed or implied. Such risks and uncertainties include, without limitation, the effectiveness, profitability and marketability of products, the protection of intellectual property and proprietary information, and other risks detailed periodically in filings with the SEC. There is no obligation to update any forward-looking statements.