SANTA MONICA, Calif., April 28, 2005 (PRIMEZONE) -- Patient Safety Technologies, Inc. (AMEX:PST) and its division, SurgiCount Medical, announced today that it has entered into a clinical trial agreement with Brigham and Women's Hospital, the teaching affiliate of Harvard Medical School, relating to SurgiCount's innovative Safety-Sponge(tm) System. The patented system allows for a faster, more accurate counting of surgical sponges in operating rooms using machine-readable dressings. The study is the result of an on-going collaboration between Harvard and SurgiCount to refine the Safety-Sponge(tm) in a clinical optimization study spearheaded by leading patient safety researcher and advocate, Dr. Atul Gawande of Harvard Medical School. The study, which is not a regulatory requirement, will begin late May 2005, and is expected to parallel the system's rollout into hospitals nationwide this summer.
The trial, entitled "Data Matrix Sponge Optimization Study," is being conducted to further optimize the technical and procedural features of the Safety-Sponge. Under terms of the contract, Brigham and Women's Hospital, a world leader in patient care, medical education and research, will collect data on how the Safety-Sponge System saves time, reduces costs and increases patient safety in the operating room. The study will also continue to refine the system's technical processes in the OR to provide clear guidance and instruction to hospitals, easily integrating the Safety-Sponge system into operating rooms.
Said Dr. Gawande, author of Complications: A Surgeon's Notes on an Imperfect Science, "I am delighted to have this opportunity to help design and test this new system that I hope will increase the safety of surgery and fit seamlessly into surgical practice."
"We are pleased to be joined by Dr. Gawande, Harvard University, and Brigham and Women's Hospital in our efforts to further optimize the Safety-Sponge," said PST's Chief Health and Science Officer, Louis Glazer, M.D. "Officially collaborating with two globally renowned medical institutions attests to the importance of our first patient safety product; it embodies our commitment to providing comprehensive safety solutions to doctors, nurses and patients."
According to the agreement, Brigham and Women's Hospital will receive a non-exclusive license to use the Safety-Sponge(tm) System, while the company will own all technical innovations and other intellectual properties derived from the study.
Commenting on the partnership, PST's Chairman and CEO, Milton "Todd" Ault III, said, "Being acknowledged and supported, in such a fundamentally overlooked industry like patient safety, by Harvard Medical School is a major milestone for PST, SurgiCount, and the Safety-Sponge System. The efficiency study is a true validation of the revolutionary nature of a laser-read, sponge tracker. It recognizes the dire need for our system to be in every operating room in the world. We are ecstatic that the seven years of research and development that has gone into the system has finally reached a level of deployment where our system can positively impact the $1.5 billion a year hospitals spend on litigation. Every surgical patient deserves the peace of mind that they won't be one of the thousands of patients each year to have something left behind in them."
Patient Safety Technologies, Inc. ("PST") is a developer, manufacturer and content provider of patient safety products and services, working toward becoming the leader in the patient safety sector. Headquartered in Santa Monica, California, PST is assembling a world-class Advisory Board of leading patient safety experts. The company is concentrating on surgical safety to support its newly acquired subsidiary, SurgiCount Medical, Inc., a developer of patient safety devices. SurgiCount features the Safety-Sponge(tm) System, which allows for faster and more accurate counting of surgical sponges. For more information on Patient Safety Technologies, Inc., please contact the company directly at (310) 752-1416, or by email at info@patientsafetytechnologies.com or www.patientsafetytechnologies.com.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements. These forward-looking statements can generally be identified as such because the context of the statement will include words such as Patient Safety Technologies "expects," "should," "believes," "anticipates" or words of similar import. Stockholders, potential investors and other readers are cautioned that these forward-looking statements are predictions based only on current information and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward-looking statements. Certain of those risks and uncertainties are discussed in the Patient Safety Technologies filings with the Securities and Exchange Commission, including Patient Safety Technologies annual report on Form 10-K and quarterly reports on Form 10-Q. These forward-looking statements are only made as of the date of this press release and Patient Safety Technologies does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.