Global Med Technologies(R) Signs Binding LOI With European Company for Breakthrough Transfusion Safety RFID Product
September 23 2009 - 9:00AM
PR Newswire (US)
Global Med Expects to Generate Significant Revenues and Profits
from this Potential $1 Billion Annual 'Green Field' Market DENVER,
Sept. 23 /PRNewswire-FirstCall/ -- Global Med Technologies , Inc.
("Global Med" or the "Company") (OTC:GLOB) (BULLETIN BOARD: GLOB) ,
an international healthcare information technology company, today
announced that it has signed a binding letter of intent with
verIDentia SL of Macanet De La Selva, Girona, Spain for its
verIDhemos transfusion safety system. Terms of the agreement were
not disclosed. (Logo:
http://www.newscom.com/cgi-bin/prnh/20040226/GLOBALMEDLOGO) The
verIDhemos transfusion safety system is comprised of an RFID
patient wristband with barcodes, a locked security container
imbedded with electronic circuit boards containing microprocessors
and memory, and a software system that is planned to be integrated
with SafeTrace Tx , Wyndgate's hospital transfusion system, and
EdgeTrack, Inlog's hospital transfusion system. The verIDhemos
system is the link that will close Global Med's Vein-to-Vein loop.
Once a patient's pre-transfusion testing has been completed, the
correct blood unit is ordered from the lab and placed in the
verIDhemos security container. The security cap on the container
cannot be released until it is within reading distance of the
correct patient wristband RFID tag. Once the cap is opened, the
post-transfusion data is automatically registered into the
electronic circuit boards in the cap. To the best of Global Med's
knowledge, this is state-of-the-art technology that does not exist
elsewhere. A significant risk of transfusion is an improper or
inadequate identification of the recipient. Systems exist to
mitigate the occurrence of this error, all of which have
limitations. The verIDhemos system reduces this risk in a unique
and innovative way through radio frequency identification (RFID)
technology. To date, we know of no other vendor using a combination
of patient identity with RFID for identification at the bedside
before transfusion. Current transfusion safety systems are a mix of
manual and electronic systems. Common manual systems use bedside
ABO blood group checks and ID wristbands. PDA-based electronic
systems, mechanic coded locks and electronic blocking systems are
initially attractive systems, but do not have the extra layer of
technology to assure identity. These systems have also been shown
to be too complex and costly for the average hospital to implement.
verIDhemos' methods are objective, offering a high degree of safety
and less chance for human error when crossmatching and
administering transfusions. Unlike other systems which depend
solely on human decision, verIDhemos offers excellent data
traceability, is very adaptable, and capable of integration with
existing computer systems and other hospital technologies
containing barcodes. The system is very easy to use, quickly
implemented, requires minimal staff training, and is highly cost
effective in comparison to other technologies on the market. Lluis
Massuet, M.D., Medical Director of the Transfusion Medicine Service
at Hospital Universitari de Bellvitge, an 800-bed teaching hospital
in Barcelona, Spain, stated, "Since we started testing the
verIDhemos system in part of our hospital, our clinicians have less
concern about patient misidentification. As soon as we were
presented with this product, we immediately identified certain
unique features over PDA-based systems, so we decided to start
testing it deeply." Dr. Massuet continued, "We have substantially
improved safety and quality of patient care and reduced transfusion
error risk." Eduardo Graells, CEO of verIDentia, stated, "We
extensively searched the world-wide market place for a partner who
had the global quality, reputation and the international hospital
reach to appropriately interface our products with and to
potentially form a long-term relationship. Global Med popped up
again and again as the leader in high quality and state-of-the-art
medical software for international blood bank and hospital
transfusion software." Mr. Graells continued, "We are very excited
about this long-term relationship and we look forward to working
closer with Global Med in the future." Mick Ruxin, M.D., Chairman
and CEO for Global Med Technologies, commented, "With less than ten
percent competitor penetration in the U.S. hospital market space,
and based on recent data showing over 35 million annual type and
crosses in the United States, and perhaps over 170 million type and
crosses worldwide, the verIDhemos system is a 'green field' market
opportunity for Global Med. The two physician hospital transfusion
directors, with whom I personally met in Barcelona, Spain,
commented favorably on a high level potential for safety
improvement, ease of use, successful implementation rate, and low
economic impact on the hospitals. After Global Med's team saw the
verIDhemos system used in a clinical setting, we knew that the
product had tremendous potential for worldwide distribution." Dr.
Ruxin continued, "Global Med has been given first right of refusal
to purchase verIDhemos/verIDentia and has exclusive marketing
rights in North America, Japan, Brazil, most of Europe, the Middle
East and Asia. Although it is not currently available for sale in
the U.S., Global Med will be seeking FDA permission to market the
verIDhemos product in 2010. Plans are for immediate marketing of
the product in Germany and France." Dr. Ruxin further commented,
"The beauty of this medical device is that we can use our current
sales force to either bundle this product with SafeTrace Tx and
EdgeTrack or sell it independently and interface it with other
systems. The verIDhemos system is a natural product-line extension
of Global Med's current hospital software offerings. With Global
Med's international market reach, we are all very excited about
verIDhemos' substantial market potential." About Global Med
Technologies , Inc. Global Med Technologies, Inc. is an
international healthcare information technology company which
develops regulated and non-regulated products and services for the
healthcare industry. As a leading provider of blood and laboratory
systems and services, Global Med's products are deployed in 20
countries and serve over 2,100 transfusion centers, blood banks and
laboratory sites. Global Med's domestic companies are Wyndgate
Technologies , a leader in software products and services for donor
centers and hospital transfusion services; eDonor , which offers
web-based donor relationship management systems; and PeopleMed(TM),
Inc., which implements cost-effective software validation,
consulting and compliance solutions to hospitals and donor centers.
Global Med's European subsidiary, Inlog, SA, is a leading developer
of *donor center and *transfusion management systems as well as
cellular therapy software, *laboratory information systems and
quality assurance medical software systems internationally.
*Products are not marketed in the United States. For more
information about Global Med's products and services, please call
800-996-3428 or visit http://www.globalmedtech.com/. This news
release may include statements that constitute forward-looking
statements, usually containing the words "believe," "estimate,"
"project," "expects" or similar expressions. These statements are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements inherently involve risks and uncertainties that could
cause actual results to differ materially from the forward-looking
statements. By making these forward-looking statements, the Company
undertakes no obligation to update these statements for revisions
or changes after the date of this news release.
http://www.newscom.com/cgi-bin/prnh/20040226/GLOBALMEDLOGO
http://photoarchive.ap.org/ DATASOURCE: Global Med Technologies,
Inc. CONTACT: Michael I. Ruxin, M.D. of Global Med Technologies,
Inc., +1-303-238-2000; or Investors, Jeffrey Benison,
+1-212-334-8709, , for Global Med Technologies, Inc. Web Site:
http://www.globalmedtech.com/
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