MINNEAPOLIS, MN--(Marketwire - July 27, 2010) -
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Protectus Medical Devices, Inc. (OTCQB: PTMD), which designs, engineers, and manufactures safety needle devices to protect healthcare workers from accidental needlestick injuries, reports that Synergistic Medical Network, LLC is expanding its ongoing pre-launch marketing campaign for the Protectus Safety Syringe, the Company’s 510(k) cleared, patented, self-sheathing, hypodermic safety syringe. The Company signed a national distribution and sales broker agreement with Synergistic Medical Network (SMN) last December.
The geographical focus of the pre-launch marketing campaign is not limited. Currently, SMN is utilizing the Protectus Safety Syringe samples in its possession nationwide for demonstration purposes. Initially, SMN distributed its samples to its distributors with nursing backgrounds, given that the syringe is a “tool of the trade” and with the expectation that nurses would recognize and discuss the benefits of the Protectus Safety Syringe with peers.
“The full product launch and strategy will depend on the inventory levels available from Protectus, which is unknown at present,” according to a statement released by SMN’s managing partners. “We are prepared to at least start with a limited launch by introducing the Protectus Syringe primarily into physicians’ offices before we go into larger hospitals. However, we are certain we will be able to sell all of the inventory Protectus can manufacture.”
SMN’s managing partners report that SMN has demonstrated the Protectus Safety Syringe to large hospital systems in the Midwest and has received an overwhelmingly positive response. Based on that reaction, SMN has adjusted its sales forecasts upward from earlier, more conservative company projections.
Dr. John Salstrom, President, CEO and Director of Protectus Medical Devices, stated, “The positive feedback that Synergistic Medical Network has received to date for the Protectus Safety Syringe reinforces our Company’s belief that the product launch will be hugely successful. Additionally, it strengthens our commitment to work closely with SMN as our national distributor and sales broker as we introduce commercial product into more and more hospitals and healthcare institutions across the U.S.”
With more than 150 distributors covering all 50 states, SMN is in continual negotiations with organizations that have specialized and innovative medical technologies, quite selectively adding to their strong product lines. SMN expects to have more than 500 distributors nationally at full product launch with Protectus.
About Protectus Medical Devices, Inc.
Protectus Medical Devices, Inc. (OTCQB: PTMD) designs, engineers, and manufactures safety needle devices to protect healthcare workers from accidental needle injuries. It offers the Protectus Safety Syringe (formerly SquareOne Safety Syringe), a patented, automatic, self-sheathing hypodermic safety syringe designed to reduce or eliminate the dangers of accidental needle stick injuries to medical professionals worldwide who may be pricked, scraped or injected by a needle before or after it has been injected and withdrawn from patients potentially carrying infectious bloodborne microorganisms. The company has received 510(k) permission from the US FDA to manufacture and market its Safety Syringe in the US. No other permissions are required to manufacture and market the device. The company was founded in 1999 and is based in Minneapolis, Minnesota.
For more information please visit www.protectusmedical.com.
Forward-Looking Statements
This release contains “forward-looking statements” for purposes of the Securities and Exchange Commission’s “safe harbor” provisions under the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. These forward-looking statements are subject to various risks and uncertainties that could cause the business and financial results of Protectus Medical Devices, Inc. to differ materially from those currently anticipated, including the risk factors identified in Protectus Medical Devices, Inc.'s filings with the Securities and Exchange Commission.
Contact:
John S. Salstrom, Ph.D.
President and CEO
Protectus Medical Devices, Inc.
1-800-778-8438
moreinfo@protectusmedical.com
The Investor Relations Group
212-825-3210
Adam Holdsworth or James Carbonara