WESTON, Fla., Aug. 19 /PRNewswire-FirstCall/ -- In keeping with its mission to provide unique products that greatly benefit the wellbeing of families, American Scientific Resources (the Company) (Pink Sheets: ASFX), today announced it has obtained from Safeguard Medical Technologies, LLC exclusive worldwide rights to sell and market home Needle Destruction Devices (NDD) known as the Disintegrator(TM) and the Disintegrator Plus(TM).
All current and future sales and contracts worldwide have been granted to the Company.
Currently the only NDD approved for home use by the U.S. Food and Drug Administration, the Disintegrator enables patients who need to give themselves injections to properly and safely dispose of their used needles at home. The Disintegrator utilizes a unique plasma arc to melt the needle at a temperature of over 3000 degrees Fahrenheit (ensuring the elimination of any pathogens), reducing it to a small bb-shaped ball. It uses patented technology that gives it distinct advantages over similar devices.
"We are quite pleased to have acquired exclusivity on such an innovative product as the Disintegrator," stated Dr. Christopher F. Tirotta, CEO of American Scientific Resources, Inc. "Potential worldwide sales look most encouraging."
The Disintegrator has enormous potential to become a world leader in its market. For example, multiple sclerosis, diabetes and HIV Patients may require daily injections; this device will ensure that their syringes do not end up harming anyone from family members to waste haulers.
A congressional bill (S, 1312) is pending which would amend Title XVIII of the Social Security Act to provide for coverage of supplies associated with the injection of insulin, of containment, removal, decontamination, and disposal of home-generated needles, and syringes, through a sharps container, or decontamination/destruction device under part D of the Medicare program.
The Disintegrator is already gaining a warm reception from the market. In March 2009, Safeguard delivered 5000 units to one of the world's largest healthcare enterprises. Since then, that global enterprise has placed an additional order for 2000 Disintegrator units (which American Scientific Resources will fulfill) and a competing healthcare enterprise has expressed interest to procure an even larger supply than the combined orders above.
Additionally, according to Safeguard, the first enterprise has a specialty injection drug that is one of the top selling drugs in their line up. Eventually they would like to have a Disintegrator in every such user's home in the EU within 3 years; that translates to over 200,000 units; there are approximately 2 million specialty injection drug users worldwide. With health care transitioning into the home from the facility, ASFX sees the device as a global leader in Needle Disposal Technology.
The Company plans to introduce the product commercially in the fall of 2009. The private label, proprietary models being marketed to the large healthcare enterprises will be sold for upwards of $120. The Disintegrator is EPA recommended.
About American Scientific Resources, Inc.
American Scientific Resources, Inc. is a holding company for two wholly owned subsidiaries, Kidz-Med, Inc. and Heart Smart System. The Company's objective is to locate and acquire innovative health and safety products that are successfully sold abroad, and to introduce and promote them to the North American market. For information, visit the corporate web site at www.americansci.com and the Company's subsidiary, Kidz-Med, Inc. at www.kidzmed.com.
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.
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|SOURCE American Scientific Resources, Inc.|
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