IRVINE, Calif., Jan. 11, 2013 /PRNewswire/ -- SurgiCount Medical, Inc. (the wholly-owned operating subsidiary of Patient Safety Technologies, Inc. (OTCBB: PSTX, OTCQB: PSTX) today announced that it is joining a list of Committed Partners in sponsoring the inaugural Patient Safety, Science & Technology Summit. Founded by the Masimo Foundation for Ethics, Innovation & Competition in Healthcare, the event is focused on confronting large patient safety issues with actionable ideas and innovations that can help transform the process of care for dynamic improvements in patient safety and cost of care. President Bill Clinton headlines the event as the Keynote Speaker and is joined by a list of other speakers and panelists including Dr. Peter J. Pronovost, the Senior Vice President for Patient Safety and Quality at Johns Hopkins, and Joe Kiani, the founder and CEO of Masimo (NASDAQ: MASI) and Chairman of the Masimo Foundation. The event is scheduled for January 13-14 at the Ritz Carlton in Laguna Niguel, CA.
"We are proud to support the Masimo Foundation in its call to action to address preventable patient injuries and the real human and economic costs of their occurrence. We look forward to helping enable and participating in the dialogue among other medical device technology companies, clinicians, hospitals, payers and government as we work toward providing actionable solutions to both improve patient safety and reduce healthcare costs," stated Brian E. Stewart, President and Chief Executive Officer of Patient Safety Technologies, Inc. "As the provider of the market leading solution to the most commonly reported surgical adverse event, we believe we are in a unique position to play an integral role in helping achieve these goals and look forward to continuing to support the Masimo Foundation"
About Patient Safety Technologies, Inc. and SurgiCount Medical
Patient 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 prevent the most commonly reported surgical adverse event, retained surgical sponges. For more information, contact SurgiCount Medical, Inc. at (949) 387-2277 or visit www.surgicountmedical.com.
About the Patient Safety, Science & Technology Summit
Improving patient safety is one of the greatest challenges facing the healthcare industry. Cost-effectively solving patient safety challenges requires fundamental changes in the process of care and a collaborative effort from all stakeholders. Founded by the Masimo Foundation for Ethics, Innovation & Competition in Healthcare, the Patient Safety, Science & Technology Summit is designed to unite and educate the healthcare industry (medical technology companies, clinicians, hospitals, payers, and government) toward actionable, high impact patient safety solutions. Focused on connecting ideas, people and technologies in order to connect the dots in patient care through monitoring and feedback, predicting risk, therapeutic advances, decision support, interoperability, automating and integrating quality measures, the Summit will deliver high impact patient safety recipes each year. For more information, visit www.patientsafetysummit.com.
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: 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 2011, 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.
SOURCE Patient Safety Technologies, Inc.