IRVINE, Calif., June 13, 2012 /PRNewswire/ -- Patient Safety Technologies, Inc. (OTCBB:PSTX, OTCQB:PSTX) today announced that it has filed a lawsuit against ClearCount Medical Solutions in the United States District Court for the Central District of California, asserting a claim against ClearCount for infringement of United States Patent No. 5,931,824 entitled "Identification and Accountability System for Surgical Sponges." Patient Safety's claims are based on ClearCount's sale of its SmartSponge Flex and SmartSponge System products which are alleged to infringe the '824 Patent. Patient Safety seeks injunctive relief and damages as remedies for the infringement.
"We will not accept the violation of our intellectual property and intend on pursuing appropriate legal action against those we believe are doing so," stated Brian E. Stewart, President and Chief Executive Officer of Patient Safety Technologies, Inc.
About Patient Safety Technologies, Inc. and SurgiCount MedicalPatient Safety Technologies, Inc., through its wholly-owned operating subsidiary SurgiCount Medical, Inc., provides the Safety-Sponge® System, a solution clinically proven to improve patient safety and reduce healthcare costs by helping eliminate one of the most common errors in surgery, retained surgical sponges. The market leading solution to retained sponge prevention, the Safety-Sponge® System is currently used in over 185 facilities across the U.S., including six of the 2011-2012 U.S. News and World Report Best Hospitals Honor Roll recipients.
Forward Looking Statements
Statements in this press release regarding our business that are not historical facts are "forward-looking statements" (within the meaning of Section 21E of the Securities Exchange Act of 1934) that involve risks and uncertainties. Forward-looking statements reflect our management's current views with respect to future events and financial performance; however, you should not put undue reliance on these statements. When used, the words "anticipates," "believes," "expects," "intends," "future," and other similar expressions, without limitation, identify forward-looking statements. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. These factors and uncertainties include but are not limited to: the ability to successfully implement hospitals under contract but yet implemented, the early stage of adoption of our Safety-Sponge® System and the need to expand adoption of our Safety-Sponge® System; the impact on our future revenue and cash flows from the ordering patterns of our exclusive distributor Cardinal Health; our need for additional financing to support our business; our reliance on third-party manufacturers, some of whom are sole-source suppliers, and on our exclusive distributor; and any inability to successfully protect our intellectual property portfolio. In light of the risks and uncertainties, there can be no assurance that any forward-looking statement will in fact prove to be correct.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV