HTG-Ventrex, Signalife, Inc.'s Contract Manufacturer, Acquired by Parker Hannifin Corporation
Published: Apr 28, 2008
GREENVILLE, S.C., April 28 /PRNewswire-FirstCall/ -- Signalife, Inc. announced today that its contract manufacturer, Ventrex Inc., Ventura, CA, acquired by the Hi-Tech Group in September 2007, has been acquired by Parker Hannifin Corporation , Cleveland, OH as part of the Parker Hannifin strategic entry into the medical device manufacturing industry. The Hi-Tech Group, a 2007 Medical Design Excellence Award winner, combines the strength of Ventrex with other engineering, molding, assembly and plastics companies expanding its technical service offering to Signalife and the medical device industry. Signalife is pleased to have chosen Ventrex, Inc., a highly responsive and capable full service medical device contract manufacturer with ISO 13485 certification and FDA registration, as its contract manufacturer. With a broad array of process capabilities, foremost attention to quality, total responsiveness, and highly efficient operation, Ventrex offers superior value in medical device contract manufacturing services.
Dr. Budimir S. Drakulic, Signalife's Chief Technology Officer commented: "This acquisition is very important for Signalife's manufacturing capabilities. We have a great business relationship with HTG-Ventrex and are glad that they are now part of Medical Systems Division of Parker's Seal Group. Ventrex, Hi-Tech, and now Parker Hannifin remain totally committed to Signalife and its product's success."
Signalife, Inc. is a life sciences company focused on the monitoring, detection and prevention of disease through continuous biomedical signal monitoring. Signalife uses its patented signal technology to design and develop medical devices, therapies and/or technologies that simplify and reduce the costs of cardiovascular disease.
Signalife, Inc. is traded on the American Stock Exchange under the symbol SGN. More information is located at www.signalife.com. Clear Data. Trusted Results.
Caution Regarding Forward-Looking Statements
Statements in this release that are not strictly historical are "forward- looking" statements. Forward-looking statements involve known and unknown risks, which may cause Signalife's actual results in the future to differ materially from expected results. Factors which could cause or contribute to such differences include, but are not limited to, failure to complete the development and introduction of heart monitoring and other biomedical devices incorporating Signalife's technology, failure to obtain federal or state or governmental or international regulatory approvals governing heart monitoring and other biomedical devices incorporating Signalife's technology, failure to obtain import and export capabilities in the various countries containing buyers and resellers and hospitals and clinics and doctors for the Signalife devices, inability to obtain physician, patient or insurance acceptance of for heart monitoring and other biomedical incorporating Signalife's technology, and the unavailability of financing to complete management's plans and objectives, including the development of heart monitoring and other biomedical incorporating Signalife's technology. These risks are qualified in their entirety by cautionary language and risk factors set forth and to be further described in Signalife's filings with the Securities and Exchange Commission.
CONTACT: Dr. Budimir Drakulic CTO of Signalife, +1-864-233-2300
Web site: http://www.signalife.com/