TAMPA, Fla., Feb. 15, 2005 (PRIMEZONE) -- Southwestern Medical Solutions, Inc. (Pink Sheets:SWNM) is pleased to report that early indications from its ongoing clinical evaluations of Labguard are extremely positive, confirming the excellent results of its preliminary in-house testing. The initial input from the labs indicates that Labguard does indeed represent a significant advancement in specimen collection & analysis devices.
Superior Attributes And Competitive Pricing
In terms of both safety and efficiency, the leading edge Labguard is an improvement on conventional collection & analysis devices and, with a planned retail price that will be competitive with those of conventional devices, is expected to garner significant market share when it becomes available.
Southwestern Vice President of New Product Development, Richard Powell, noted "The outstanding attributes of Labguard are definitely "as proven" from our in-house results, and we will continue the evaluation process until every aspect of this product has been given the highest possible marks." The Company has teamed with several independent laboratories that will provide valuable feedback and analysis of the Labguard product. This is a hands-on evaluation period and allows SWNM the ability to make any final improvements to the product throughout this process.
Poised For Launch into Enormous Healthcare Markets
Currently involved in clinical evaluation studies for its patent protected Labguard systems, Southwestern Medical Solutions continues to develop exciting advancements in products for the healthcare community. With the exclusive rights to produce and distribute the patented Protect-A-Pal needle safety systems, including the Carotid Endarterectomy Shunt and a breast biopsy safety device, as well as its potential entrance into the Hydrotherapy market, the Company is poised to gain a meaningful share of the healthcare marketplace. The Company's proprietary Labguard on-site collection & diagnostic testing technology represents a revolutionary approach that ensures greater safety and convenience for diagnostic testing administrators at an attractive, market-competitive price. Numerous applications of the Labguard to address specific market needs, such as non-invasive HIV testing, are currently in the design, prototype and/or testing stages. Southwestern Medical is also involved in prototype design and testing of several versions of the promising Protect-A-Pal needle safety device, to which it now owns the world marketing rights.
The statements made in this press release, which are not historical facts, contain forward-looking statements concerning potential developments affecting the business, prospects, financial conditions and other aspects of the company to which this release pertains. The actual results of the specific items described in the release, and the company's operations generally, may differ materially from what is projected in such forward- looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward- looking statement.