TAMPA, Fla., Feb. 22, 2005 (PRIMEZONE) -- Southwestern Medical Solutions, Inc. (Pink Sheets:SWNM) is pleased to announce that, having completed the process of screening potential suppliers for a component of the Labguard(tm) system, it has narrowed the choice down to just two candidates and has carried out a costing and acquisition analysis of each candidate.
Vice President of New Product Development, Richard Powell noted, "This particular component of our system is widely available but there are two suppliers that stand out as the type of professional organizations we seek to deal with, and both candidates are eager to work with us after considerable research on their part concerning our advancements in this technology."
Reputable OEM Manufacturers
As determined on the basis of quality and economics, SWNM will outsource manufacture of components when it is judged to provide an economic advantage to the company without any compromise regarding its stringent quality standards. In addition to these considerations, SWNM evaluates each supplier on the merits of its medical device history as well as on industry standards.
Southwestern Medical Has The Solution
The Company's proprietary Labguard(tm) 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. Currently undergoing clinical testing of the Stage 1 Labguard(tm), the Company is also nearing completion of the building of prototypes for Labguard(tm), Stage 2.
Numerous applications of the Labguard(tm) to address specific market needs, such as non-invasive HIV testing, are being advanced toward commercialization.
Poised For Launch into Enormous Healthcare Markets
Currently involved in clinical investigative studies for its patent protected Labguard(tm) 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(tm) safe syringe systems, and its potential entrance into the Hydrotherapy market, the Company is aggressively pursuing a meaningful share of the healthcare marketplace.
Southwestern Medical is also involved in prototype design and testing of several versions of the promising Protect-A-Pal(tm) 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.