Navigation Links
Flexpoint Announces Universal Settlement Involving the Medical Bed and Related Technologies
Date:4/24/2013

DRAPER, Utah, April 24, 2013 /PRNewswire/ -- Flexpoint Sensor Systems, Inc. (OTCQB: FLXT) today announced that it has reached a favorable universal settlement in the legal case involving a series of products featuring  technologies that use Bend Sensor® technology.

Flexpoint led the complicated negotiations that culminated in the agreement which involved multiple parties and multiple issues.  The universal settlement reinforces Flexpoint's rights and gives the company new revenue from all sales of related products moving forward. 

Through the course of negotiations, it became clear that the medical bed and related applications have numerous interested potential customers who could move aggressively to bring these products to market. As part of the settlement, Flexpoint has reached a marketing agreement with Bend Tech, LLC, and Jules Anthony "Tony" DeGreef.  Mr. DeGreef has been involved with these products for years, and has previously successfully marketed the products and has already begun talks with new interested clients.     

The resolution of the issues involving the products utilizing Bend Sensor® technology represents a breakthrough for Flexpoint, as the products involved represent major revenue potential for the company moving forward.

"We are gratified to reach such a favorable settlement in this case," said Flexpoint President Clark Mower . "The products involved represent years of innovative development, and we are excited to see them progress and be positioned to realize their significant market potential. The talks that led up to this settlement have us feeling confident that we will see exciting movement on these products in the coming year. These products, which were essentially put on hold for several years pending the outcome of litigation, should result in substantial sales for Flexpoint's Bend Sensors®.  Based upon current interest we expect orders beginning as early as late this year. We are excited to be in a position to add such strong products to our market inventory." 

About Flexpoint:
Flexpoint Sensor Systems (OTCQB:FLXT) is an innovative technology firm specializing in developing products that feature the Company's patented Bend Sensor® and related technology.  The Bend Sensor® is a groundbreaking sensing solution that is revolutionizing applications in the automotive, safety, medical and industrial industries. The Bend Sensor's single-layer, thin film construction cuts costs and mechanical bulk while introducing a range of functions and stylistic design possibilities that have never before been available in sensing technology. Flexpoint's technology and expertise have been recognized by the world's elite business and academic innovators for over 17 years. The company is setting a new standard for sensing solutions in the "smart" age of technology. 

Forward-Looking Statements
This press release contains certain forward-looking statements.  Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.

Contact Information:
Flexpoint Sensor Systems
Clark Mower , President
801-568-5111

Brokers and Analysts:
Chesapeake Group
410-825-3930


'/>"/>
SOURCE Flexpoint Sensor Systems, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Flexpoint Receives Purchase Order for Medical Device Used in Procedure Performed Millions of Times Annually
2. Flexpoint to Develop New Sensor Type
3. Flexpoint Completes Certification for Pressure Relief Device
4. Sales of Flexpoint Sensors Increases Substantially in January
5. Flexpoint Announces Progress on the Medical Bed and Related Technologies
6. Precision Optics Corporation Announces $1 Million Order for Microprecision™ Based Endoscopes
7. Young Innovations, Inc. Announces Record Sales and EPS for the Quarter Ended March 31, 2012
8. JDRF Announces Research Collaboration with Dexcom, Inc. to Develop "Smart Transmitter" Technology to Accelerate Artificial Pancreas Studies
9. Misonix Announces New Distribution Agreement For Panama
10. University of Maryland BioPark Announces MedImmunes Dr. Bahija Jallal as Newest Member of Board of Directors for UM Health Sciences Research Park
11. Novelos Therapeutics Announces Successful Completion of First Cohort In Lung Cancer Trial With I-124-CLR1404 (LIGHT) Cancer-Targeted PET Imaging Agent at UW Carbone Cancer Center
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... June 23, 2016  In a startling report released today, ... residents by lacking a comprehensive, proven plan to eliminate prescription opioid ... ranking of how states are tackling the worst drug crisis in ... states – Kentucky , New Mexico ... . Of the 28 failing states, three – ...
(Date:6/23/2016)... Research and Markets has announced the addition of ... their offering. The current ... environment for MedImmune to enter. The US ageing population creates ... drive considerable growth for effective anti-influenza medications. The introduction of ... but development is still in its infancy. ...
(Date:6/23/2016)...  Astellas today announced the establishment of Astellas Farma Colombia (AFC), a new affiliate with operations headquartered in ... . ... ... ... Astellas ...
Breaking Medicine Technology:
(Date:6/27/2016)... ... , ... TherapySites, the leading website and online ... Counseling Association. This new relationship allows TherapySites to continue to extend their ... benefits and promotional offers. , "TCA is extremely excited about this new partnership, ...
(Date:6/26/2016)... ... June 27, 2016 , ... Quality metrics are proliferating in cancer ... they remain in the eye of the beholder, according to experts who offered insights ... American Journal of Managed Care. For the full issue, click here . , ...
(Date:6/26/2016)... ... June 26, 2016 , ... Brent Kasmer, a legally blind and certified personal trainer ... through a fitness app. The fitness app plans to fix the two major problems leading ... a one size fits all type program , They don’t eliminate all the ...
(Date:6/25/2016)... ... , ... The temporary closing of Bruton Memorial Library on June 21 due to a possible ... often overlooked aspect of head lice: the parasite’s ability to live away from a human ... but a necessary one in the event that lice have simply gotten out of control. ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... ... athletes and non-athletes recover from injury. Recently, he has implemented orthobiologic procedures as ... City area —Johnson is one of the first doctors to perform the treatment. ...
Breaking Medicine News(10 mins):