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Published in Stocks and Investing on Thursday, February 19th 2009 at 14:35 GMT, Last Modified on 2009-02-19 14:37:03 by Market Wire
MOUNT PLEASANT, S.C.--([ BUSINESS WIRE ])--Revolutions Medical Corporation (OTCBB: RMCP) has received notification from the FDA that the 510K application for the Rev Vac safety syringe is approved. This represents a major step forward for the company towards realizing its goal in becoming a major player in the safety syringe market.
The Rev Vac safety syringe uses patented technology to draw the needle back into the syringe chamber after use. This safety syringe should result in a decrease in accidental needle stick injuries. Another important safety feature is that it will disallow the reuse of the syringe. This may significantly decrease the spread of HIV and other blood borne diseases. This safety syringe takes only one hand to use, which is a very important feature for the health care practitioner or medical personnel. There are no clumsy clamps, sheaths or other complex safety features that require two handed use.
"We are pleased to receive 510K FDA clearance for our Rev Vac safety syringe. I want to congratulate all of our patient, loyal shareholders. This important step forward will enable the company to aggressively pursue its goal of getting this important safety syringe into the marketplace. Our Rev Vac safety syringe has significant advantages over our competitors and we expect a warm reception from the medical industry," states Ron Wheet, CEO of Revolutions Medical Corporation.
Rich Theriault, President of Strategic Product Development (SPD) states, "This is a key milestone as we can now move forward with the manufacturing and sales of the Rev Vac product line. As the company transitions from strictly Research and Development of a number of proprietary technologies into sales and marketing, we expect to release a series of products into the medical marketplace over the next two years."
About Revolutions Medical Corporation
Revolutions Medical Corporation is committed to continually developing and distributing new products and tools to the medical industry, whether internally or through acquisitions. Its goals are to make health care safer and less expensive by reducing risks and cutting time and expenses. Its products include the Rev Vac safety syringe, safety blood drawing device and safety IV catheter. The world market for safety-engineered medical devices (SEMDs) is projected to exceed 2 billion this year and is forecasted to maintain a 20% annual growth rate in the near term. Revolutions Medical also provides software solutions and proprietary tools that are compatible with standard MRIs and standard PACS. The software includes sorting of images, color, 3D, and automatic segmentation of images. These tools will enhance the physician's diagnostic confidence in an industry that is growing at 10% - 15% (more than 25 million procedures) per year with a worldwide market potential for these tools that exceeds $3.5 billion.
Safe Harbor
Forward-looking statements made in this release are made pursuant to the "safe-harbor" provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements made by Revolutions Medical Corporation are not a guarantee of future performance. This news release includes forward- looking statements, including with respect to the future level of business for the parties. These statements are necessarily subject to risk and uncertainty.
Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors that could cause results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties, and events that may be beyond the control of Revolutions Medical Corporation, and no assurance can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain and successfully complete projects, and changes in products and competition.
