Measurement Specialties Signs Exclusive Supply Agreement with Meditron; Introduces Revolutionary Over-the-Counter Healthcare Pro
December 17 2003 - 8:30AM
PR Newswire (US)
Measurement Specialties Signs Exclusive Supply Agreement with
Meditron; Introduces Revolutionary Over-the-Counter Healthcare
Product FAIRFIELD, N.J., Dec. 17 /PRNewswire-FirstCall/ --
Measurement Specialties, Inc. , a designer and manufacturer of
sensors and sensor-based consumer products, announced today that it
has signed an exclusive agreement with Meditron ASA to supply the
transducer assemblies for Meditron's revolutionary erectile
dysfunction (ED) product. Meditron's patented ED ring uses energy
generated by MSI's piezoelectric polymer film to act on critical
nerve fibers which control erectile function. This non-invasive,
drug-free approach has shown very positive results during initial
clinical trials, and more extensive testing for FDA approval will
begin in early 2004. The disposable device is comprised of an
elastomeric ring containing the piezo film transducer, a small
ASIC-based drive circuit, and a flexible battery. Battery life is
at least one hour following activation. The device is comfortable,
unobtrusive, and is expected to be available without prescription.
Frank Guidone, CEO of Measurement Specialties commented, "it is
estimated that approximately 15-30 million males in the U.S. alone
suffer from some form of ED, yet only a small fraction ever
actually seek help, either because they are uncomfortable
addressing it with their doctor or are not interested in a
drug-based solution. Accordingly, the potential market for an
over-the-counter, drug-free solution is tremendous. We are thrilled
to be involved in such an exciting and medically significant
program. The real challenge now is identifying the right
marketing/branding partner to help take the product to retail."
Birger Orten, CEO of Meditron comments: "Measurement Specialties
has over the past 5 years supplied Meditron with sensors for use in
our medical instruments. Their products are of outstanding level of
quality and consistency. It has been an important milestone for us
to reach this level where working prototypes of our latest product
now are being produced. The collaboration saves Meditron from
substantial investments in specialty production equipment. We are
very satisfied that we have reached an agreement that will enable
us to deliver quality products in high volume. We can now focus our
efforts in finding the best marketing partner." Company contact -
Frank Guidone, CEO - 973 808-3020 Investor contact - Aimee Boutcher
- 973 239-2878 About Measurement Specialties. Measurement
Specialties is a designer and manufacturer of sensors, and
sensor-based consumer products. Measurement Specialties produces a
wide variety of sensors that use advanced technologies to measure
precise ranges of physical characteristics, including pressure,
motion, force, displacement, angle, flow, and distance. Measurement
Specialties uses multiple advanced technologies, including
piezoresistive, application specific integrated circuits (ASICs),
micro-electromechanical systems (MEMS), piezopolymers, and strain
gages to allow their sensors to operate precisely and cost
effectively. About Meditron. Meditron is an innovative Norwegian
company focused on sensor systems, especially for medical products.
Their first commercial product, known as "the stethoscope", uses
MSI's piezo film as a contact microphone sensor along with
low-noise electronics to provide an electronic signal of high
quality that can be amplified, transmitted, stored, and analysed.
This product is licensed to Welch Allyn for distribution outside
Scandinavia. A variety of other unique product concepts are
currently in development. This release includes forward looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities and Exchange
Act of 1934, as amended, including but not limited to, statements
regarding non-recurring expenses, and resolution of pending
litigation. Forward looking statements may be identified by such
words or phases "should", "intends", "expects", "will", "continue",
"anticipate", "estimated", "projected", "may", "we believe",
"future prospects", or similar expressions. The forward-looking
statements above involve a number of risks and uncertainties.
Factors that might cause actual results to differ include, but are
not limited to, success of any reorganization; ability to raise
additional funds; the outcome of the class action lawsuits filed
against the Company; the outcome of the current SEC investigation
of the Company; conditions in the general economy and in the
markets served by the Company; competitive factors, such as price
pressures and the potential emergence of rival technologies;
interruptions of suppliers' operations affecting availability of
component materials at reasonable prices; timely development and
market acceptance, and warranty performance of new products;
success in integrating prior acquisitions; changes in product mix,
costs and yields, fluctuations in foreign currency exchange rates;
uncertainties related to doing business in Hong Kong and China; and
the risk factors listed from time to time in the Company's SEC
reports. The Company from time-to-time considers acquiring or
disposing of business or product lines. Forward-looking statements
do not include the impact of acquisitions or dispositions of
assets, which could affect results in the near term. Actual results
may differ materially. The Company assumes no obligation to update
the information in this issue. DATASOURCE: Measurement Specialties,
Inc. CONTACT: Frank Guidone, CEO of Measurement Specialties,
+1-973-808-3020, or Aimee Boutcher of Boutcher & Boutcher
Investor Relations, +1-973-239-2878, for Measurement Specialties,
Inc.
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