TAMPA, Fla., Jan. 26, 2005 (PRIMEZONE) -- Southwestern Medical Solutions, Inc. (Pink Sheets:SWNM) is pleased to announce that the company's network of assigned independent medical testing laboratories is to commence clinical testing of Labguard(TM)immediately.
The results of preliminary in-house testing have exceeded management's expectations. Several healthcare personnel have brought to the company's attention additional capabilities/conveniences of the Labguard system that are expected to greatly enhance the company's marketing efforts.
Six independent Florida-based clinical testing laboratories are involved in the clinical evaluation of the Labguard product through testing with their vast array of healthcare personnel. Predicated on the results of this testing, the company expects that the Labguard(TM) system will be manufactured under OEM license to a major U.S. manufacturer. The company is optimistic that the Labguard(TM) device will be brought to market ahead of schedule through a system of distributors.
The Labguard(TM) system, currently unavailable, and having no match in the Healthcare Industry, will provide a safe, economic and comprehensive health screening & analysis system to companies & clinicians, and also will be packaged and marketed for home use. The company is pleased with the results of the preliminary testing of the system and is poised for success and encouraged with preliminary medical findings. The company is also in the process of filing patents for its production molding engineering processes, as well as its home health division product line, currently under development. Also, the Company has recently begun the design process for two new surgical disposable products related to the areas of cardiovascular health and feeding tubes.
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 in the final prototype stage, Labguard(TM) has attracted expressions of strong interest from several major medical-device distribution companies, both in the U.S. and abroad. Numerous applications of the Labguard(TM) 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 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.