TIRAT CARMEL, ISRAEL--(June 24, 2011) - D. Medical Industries Ltd. (NASDAQ:DMED)(TASE:DMED)("D. Medical" or "Company"), a medical device company engaged through its subsidiaries in the research, development, manufacture and sale of innovative products for diabetes treatment and drug delivery, today announced that the Company, through its wholly owned subsidiary Spring Health Solution Ltd, has submitted an application for CE Mark approval of its Spring™ Zone Insulin Delivery System. "Spring Zone" replaces D. Medical's first generation Spring ADI insulin pump.
The proprietary Intellispring™ technology, at the heart of the "Spring Zone" Insulin Delivery System, results in unique performance advantages such as superior blockage and detachment detection, environmental (pressure and temperature) adaptability and continuous insulin dose delivery check. This mechanism, backed by the Total Line Control™ (TLC) safety check system, enables failsafe operation and exceptional reliability for continuously controlled and monitored insulin delivery.
Other key design features that differentiate the Spring Zone from all other models on the market make it the smallest, lightest and quietest durable insulin pump.
"Intellispring technology ushers in a new generation of devices for people with diabetes. By eliminating the need for the traditional motor and gear train, the pump user will enjoy greater reliability and extended lifetime use of the device," stated Zoe Myers, Chief Commercial Officer of D. Medical.
Hezkiah Tsoory, D. Medical's Chief Operating Officer, commented, "In addition to the 27 countries of the European Union, we believe that receipt of CE mark approval would support market registrations in other regulated countries, including the five initial target markets for our pump products - Mexico and the BRIC countries of Brazil, Russia, India and China"
About D. Medical
D. Medical is a medical device company engaged through its subsidiaries in the research, development, manufacture and sale of innovative products for diabetes treatment and drug delivery. D. Medical has developed durable and semi-disposable insulin pumps, which continuously infuse insulin into a patient's body, using its proprietary spring-based delivery technology. D. Medical believes that its spring- based delivery mechanism is cost-effective compared to the motor and gear train mechanisms that drive competitive insulin pumps and also allows it to incorporate certain advantageous functions and design features in its insulin pumps. D. Medical has also developed an infusion set for insulin pumps and is focusing its research and development efforts on the development of next generation insulin pumps and a device that will combine a continuous glucose monitoring system and an insulin pump on the same patch. For more information, please visit http://www.dmedicalindustries.com (corporate) and http://www.springnow.com (healthcare professionals, patients and caregivers).
Forward-Looking Statements
This press release contains forward-looking statements (as defined by the Israeli Securities Law, 1968, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) that involve risks and uncertainties. These statements include forecasts, goals, uncertainties and assumptions and relate, inter alia, to D. Medical's future expectations in connection with its level of sales, markets penetration, readiness of its production lines and timing of markets penetration. The forward-looking statements are based on D. Medical's current expectations and beliefs which are based on, among other things, its analysis of publicly available information and market research reports. All forward- looking statements are subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward- looking statements. Such risks and uncertainties include, but are not limited to, the impact of general economic conditions, competitive products, product demand, the performance of D. Medical's Swedish distributor and contract manufacturer, regulatory trends and approvals and healthcare reform legislation. If one or more of these risks and/or uncertainties materialize, or if the underlying assumptions prove to be incorrect, D. Medical's actual results, performance or achievements could differ materially from those expressed in, or implied by, any such forward-looking statements or results which are based upon such assumptions. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or of any of them will transpire or occur, what impact it will have on D. Medical's results of operations or financial condition. D. Medicals does not undertake to update any forward-looking statements.