In the news release, HackensackUMC Adopts SurgiCount Safety-Sponge® System, issued 20-Dec-2011 by Patient Safety Technologies, Inc. over PR Newswire, we are advised by the company of updates to the original release. The complete, corrected release follows:
HackensackUMC Adopts SurgiCount Safety-Sponge® System
Newly Implemented System Helps to Increase Patient Safety and Reduce Error Rates
HACKENSACK, N.J., Dec. 20, 2011 /PRNewswire/ -- In an effort to further increase patient safety and reduce error rates, HackensackUMC recently announced the implementation of the SurgiCount Safety-Sponge® in its Operating Rooms. The SurgiCount Safety-Sponge® is a product of SurgiCount Medical, Inc., the wholly-owned operating subsidiary of Patient Safety Technologies, Inc. (OTCBB:PSTX, OTCQB:PSTX). This system provides a solution proven to improve patient safety and reduce healthcare costs by preventing one of the most common errors in surgery, retained foreign objects. "We are dedicated to continually striving to improve the standards of care we provide to our patients. By implementing the use of bar-coded sponges, we increase safety and diminish the chance of accidentally retained foreign objects," said Adrian Barbul, M.D., chairman, Department of Surgery, HackensackUMC. Affixed to every Safety-Sponge is an inseparable two-dimensional data matrix-bar code. During the initial and final counts in the operating room, each sponge is scanned using the SurgiCounter technology. Because each sponge is identified with a unique code, the SurgiCounter will not allow the same sponge to be counted more than once. When counts have been completed at the end of a procedure, patient-specific reports can be downloaded into the Citadel database for easy review and for integration with the institution's MIS system. HackensackUMC already has a reputation for patient safety, and taking these simple precautions only makes it safer. "Another important factor in deciding to use this system was ease of implementation," explains Massimo M. Napolitano, M.D., chief, Vascular Surgery, Department of Surgery at HackensackUMC. "Our nurses and operating room staff have made a seamless transition with just two simple steps in their daily routine." "We are thrilled to add HackensackUMC to our growing list of users who are taking the initiative to improve safety of their patients and help eliminate unnecessary costs by implementing a simple, safe and clinically proven solution to prevent retained sponges. We are proud to support Hackensack's long history of leadership at the forefront of healthcare and technology," stated Brian E. Stewart, President and CEO of Patient Safety Technologies, Inc. About HackensackUMC HackensackUMC is a 775-bed not-for-profit, tertiary care, teaching and research hospital and provides the largest number of admissions in New Jersey. Founded in 1888 with 12 beds and as Bergen County's first hospital, HackensackUMC has demonstrated more than a century of growth and progress. HackensackUMC is a nationally recognized healthcare organization offering patients the most comprehensive services, state-of-the-art technologies, and facilities. Honors include being named one of America's 50 Best Hospitals by HealthGrades® for five years in a row - the only hospital in New Jersey, New York, and New England to receive this honor for five consecutive years. HackensackUMC was also named one of the 50 Best Hospitals in America by Becker's Hospital Review. U.S. News & World Report ranked HackensackUMC eighth in the New York Metro Area in its first-ever Best Hospitals metro area rankings, giving it the top ranking out of all the New Jersey hospitals listed. Additionally, HackensackUMC has been ranked in geriatrics, heart and heart surgery, and cancer in U.S. News & World Report's 2011-12 Best Hospitals. The U.S. News Media Group also named the Joseph M. Sanzari Children's Hospital to its "2011-12 Best Children's Hospitals" list – ranking as one of the top 50 in the specialty of neurology and neurosurgery – the first hospital in the State of New Jersey ever to be ranked in a Best Children's Hospitals specialty. HackensackUMC is a Magnet® recognized hospital for nursing excellence, first in New Jersey, second in the nation, receiving its fourth designation in April 2009. HackensackUMC is the hometown hospital of the New York Giants and the New Jersey Nets. About Patient Safety Technologies, Inc. and SurgiCount Medical, Inc. Patient Safety Technologies, Inc., through its wholly-owned operating subsidiary SurgiCount Medical, Inc., provides the SurgiCount Safety-Sponge ® System, a solution proven to improve patient safety and reduce healthcare costs by preventing one of the common errors in surgery, retained foreign objects. For more information, contact SurgiCount Medical, Inc., at (949) 387-2277 or visit www.surgicountmedical.com. Forward Looking StatementsStatements 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: our ability to implement in all hospitals within the larger hospitals organizations with which we have agreements, our ability to implement in those hospitals with which we have scheduled implementations, 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. Forward-looking statements can be affected by many other factors, including, those described in the "Business", "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Factors Affecting Future Results" sections of our Annual Report on Form 10-K for 2010, our Quarterly Reports on Form 10-Q and in our other public filings. These documents are available online through the SEC's website, www.sec.gov. Forward-looking statements are based on information presently available to senior management, and we have not assumed any duty to update any forward-looking statements.