SurgiCount Medical Announces Expanded Market Penetration Of Its Safety-SpongeÂ® System
IRVINE, Calif., March 12, 2012 /PRNewswire/ -- SurgiCount Medical, Inc., the wholly-owned operating subsidiary of Patient Safety Technologies, Inc. (OTCBB: PSTX, OTCQB: PSTX) today announced that the number of institutions currently using its SurgiCount Safety-Sponge ® System has surpassed 135. Over 57 new facilities have been successfully implemented since the end of the third quarter of 2011, representing approximately 72% growth in SurgiCount's installed base of users during that time. Additionally, the Company has signed agreements with additional stand-alone hospitals and hospital systems representing an additional 120 facilities, the majority of which are currently scheduled to implement in the first half of 2012. This expanded user base brings the total hospitals currently using the Safety-Sponge ® System and those covered by signed agreements and expected implementations to over 255.
Included in the additional facilities with signed agreements and expected implementation dates is an additional 2011-2012 U.S. News and World Report Best Hospital Honor Roll recipient, raising to seven the total number of 2011-2012 U.S. News and World Report Best Hospital Honor Roll recipients using the SurgiCount Safety-Sponge ® System.
Additionally, the Company announced that use of the SurgiCount Safety-Sponge ® System recently surpassed an estimated 75 million Safety-Sponges ® successfully used in more than 3.6 million procedures."We are proud to partner with our ever expanding list of customers in an effort to offer their patients the highest standards of care, afford their surgical staff the best protection available and reduce their preventable costs. With more known user hospitals, more Best Hospitals Honor Roll recipients and more successful procedures than all competitive solutions combined, we believe the SurgiCount Safety-Sponge ® System continues to further establish itself as the clear market leader in retained sponge prevention," stated Brian E. Stewart, President and Chief Executive Officer of Patient Safety Technologies, Inc. The company also announced that it will be presenting at the 24th Annual Roth Conference today, March 12th at 5:00 PM Pacific Time, in Laguna Niguel, CA. A copy of the presentation to be given and a webcast of the presentation itself will be made accessible on the company's website, www.surgicountmedical.com.
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