JERUSALEM and NEEDHAM, Massachusetts, October 30 /PRNewswire-FirstCall/ -- Oridion Systems Ltd. (SWX: ORIDN) today announced a three-year purchase agreement with Kaiser Foundation Health Plan, Inc., America's largest non-profit health care provider and the largest non-military medical customer in the world. The agreement is for Oridion patented capnography (Microstream) monitors and CO2 breath sampling consumables (FilterLine(R)).
With this agreement, Oridion becomes Kaiser's sole supplier for Oridion's consumable products, thus providing savings for the entire Kaiser system of hospitals and outpatient facilities. The Kaiser network includes more than 30 hospitals and some 400 other health care facilities.
Gerry Feldman, President of Oridion, said, "We are very proud to have entered into this agreement with Kaiser, a recognized leader in healthcare innovation and best practices. Oridion's mission is to increase patient safety and improve patient outcomes based on proprietary solutions that utilize information from the patient's respiratory system. Kaiser's use of our technologies is very validating. "
The agreement covers Microstream capnography monitors, including the Capnostream(R) 20 with Smart Capnography(TM). Smart Capnography is a family of superior algorithms and software that reduces alarms, improves workflow, and provides clinical utility for improved patient safety. The agreement also includes Oridion's single-use FilterLine CO2 breath-sampling lines, which contain unique, patented features that deliver the most accurate and reliable breath sampling results.
Oridion Systems Ltd. (http://www.oridion.com) is a global medical device company specializing in patient safety monitoring. The Company operates through wholly owned subsidiaries in the United States, Europe, and Israel.
Oridion develops proprietary medical devices and patient interfaces, based on its patented Microstream(R) technologies, for the enhancement of patient safety through the monitoring of the carbon dioxide (CO2) in a patient's breath. These products provide effective, proven airway management and are used in various clinical environments, including procedural sedation, pain management, operating rooms, critical care units, post-anesthesia care units, emergency medical services, transport, alternate care and other settings where patients' ventilation may be compromised and at risk.
Kaiser Foundation Health Plan is a Health Maintenance Organization with more than 8.5 million members in nine US states and the District of Columbia. It is one of the largest not-for-profit managed health care companies in the US. Kaiser has an integrated care model, offering both hospital and physician care through a network of hospitals and physician practices operating under the Kaiser Permanente name. Members of Kaiser health plans have access to hospitals and some 400 other health care facilities operated by Kaiser Foundation Hospitals and Permanente Medical Groups, associations consisting of about 13,000 doctors.
Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words "estimate" "project" "intend" "expect" "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, our ability to maintain profits, the market demands for our Capnography products, our ability to focus our team on the Capnography business, changes in general economic and business conditions, inability to maintain market acceptance to the Company's products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for the Company's products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company's proprietary technology.
Furthermore, this press release does not constitute an offer to sell or
a solicitation of an offer to buy any securities. The Company's shares
issued have not been, and will not be, registered under the US Securities
Act of 1933, as amended (the "Securities Act"), or under any of the
relevant Securities Laws of any state of the United States. The Company's
shares may not be offered, sold or delivered, directly or indirectly, to,
or for, the account of any US person (as defined in regulation S under the
Securities Act) in or into the United States, or by use of the US mail, or
by any means or instrumentality of United States interstate commerce,
absent registration, or an exemption from registration under the Securities
For further Oridion information please contact
Alan Adler, Chairman and Chief Executive Officer
Walter Tabachnik, Chief Financial Officer
Elena Gerberg, Investor Relations
address: Oridion Systems Ltd., P.O. Box 45025, 91450 Jerusalem, Israel
|SOURCE Oridion Systems Ltd.|
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