Patient Safety Technologies Reports Third Quarter 20... (our razor /razorblade business model as ...)

Patient Safety Technologies Reports Third Quarter 2008 Results

Date:11/24/2008

our razor / razorblade business model, as our first time implementations continue, sales of our lower margin SurgiCounter(TM) hardware will be proportionately high, resulting in a temporary negative effect on gross margins. However the growing installed base of our hardware will serve to drive higher margin, recurring revenues from our Safety-Sponge(TM) products."

Income from continuing operations for the third quarter of 2008 was $224 thousand. This compares to a loss of $1.9 million in the third quarter of the prior year.

About SurgiCount Medical

SurgiCount Medical, Inc., a division of Patient Safety Technologies, Inc. (OTCBB:PSTX), manufacturers the SurgiCount Safety-Sponge(TM) System, a patented FDA 510k approved turn key solution to retained surgical sponges. The system is comprised of surgical sponges and towels affixed with an inseparable two-dimensional data matrix bar code and a SurgiCount scanner to record each sponge before and after an operation. The SurgiCount Safety-Sponge(TM) System is also the only retained sponge prevention system to offer complete sponge inventory tracking, reporting features and integration with a medical facility's IT system. For more information, contact SurgiCount at (951) 587-6201, or visit www.surgicountmedical.com .

Forward Looking Statements

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. Such statements are based on management's current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These forward-looking statements include, but are not limited to: SurgiCount Medical's ability to accelerate product momentum, bring to ma
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