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Medisafe 1 Technologies Granted Eligibility Status by the Depository Trust Company
Date:8/26/2010

Medisafe 1 Technologies Granted Eligibility Status by the Depository Trust Company -- JERUSALEM, August 26, 2010 /PRNewswire-FirstCall/ --


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Health Care & Hospitals, Medical Equipment, Medical Pharmaceuticals, New Products & Services Click to view news release full screen  

Medisafe 1 Technologies Granted Eligibility Status by the Depository Trust Company

   

Medisafe Begins Trading on the Over-the-Counter Bulletin Board

JERUSALEM, August 26, 2010 /PRNewswire-FirstCall/ -- Medisafe 1 Technologies Corp. (OTCBB: MFTH), a developer of a U.S. patented technology that physically prevents unauthorized administration of prescription medications, announced today that the company has been granted eligibility status by the Depository Trust Company (DTC). The DTC provides banks, brokerage firms and other institutions with an efficient means of moving securities and settling trades electronically.

In addition, the company has announced that shares of Medisafe 1 Technologies common stock have commenced trading on the OTC Bulletin Board under the symbol "MFTH".

"Medication administration errors in hospitals cause 400,000 preventable drug-related injuries and 7,000 deaths each year," said Jacob Elhadad, Chief Executive Officer of Medisafe 1 Technologies. "Medisafe technology seeks to significantly reduce instances of such injuries through the implementation of its patented syringe locking-device technology that physically prevents wrong medications from being administered to a patient.

"Today, the global syringe market is estimated at $5.6 billion annually. And legislation in the U.S. is currently mandating that the healthcare industry replace traditional syringes with safer technologies. Plus, a growing number of hospitals are implementing Barcoding Point of Care (BPOC) systems to help ensure that patients are administered the appropriate medications in the prescribed doses.

"Factoring the possibility of widespread implementation, the total potential addressable market for Medisafe technologies could exceed $1 billion per year," Elhadad added.

About Medisafe 1 Technologies

Medisafe 1 Technologies seeks to effectively prevent unauthorized administration of a drug or medicinal substance by hypodermic needle. Medisafe's patented technology is a medical assembly with a locking mechanism that is intended to ensure the substance cannot be released from the hypodermic needle without positive pre-matching between the substance and its intended patient.

Forward-Looking Statements

This letter contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of Medisafe 1 Technologies Corp., and its technologies. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release, as actual results may differ materially from those indicated. Medisafe 1 Technologies Corp. public filings may be viewed at http://www.sec.gov.

Contact: CEO JACOB ELHADAD +972-524440000 JACOB.ELHADAD10@GMAIL.COM
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SOURCE Medisafe 1 Technologies Corp.
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