ASFX NEWS
WESTON, Fla., Aug 19, 2009 /PRNewswire-FirstCall via COMTEX/ -- In keeping with
its mission to provide unique products that greatly benefit the wellbeing of
families, American Scientific Resources (the Company) (Pink Sheets: ASFX), today
announced it has obtained from Safeguard Medical Technologies, LLC exclusive
worldwide rights to sell and market home Needle Destruction Devices (NDD) known
as the Disintegrator(TM) and the Disintegrator Plus(TM).
All current and future sales and contracts worldwide have been granted to the
Company.
Currently the only NDD approved for home use by the U.S. Food and Drug
Administration, the Disintegrator enables patients who need to give themselves
injections to properly and safely dispose of their used needles at home. The
Disintegrator utilizes a unique plasma arc to melt the needle at a temperature
of over 3000 degrees Fahrenheit (ensuring the elimination of any pathogens),
reducing it to a small bb-shaped ball. It uses patented technology that gives it
distinct advantages over similar devices.
"We are quite pleased to have acquired exclusivity on such an innovative product
as the Disintegrator," stated Dr. Christopher F. Tirotta, CEO of American
Scientific Resources, Inc. "Potential worldwide sales look most encouraging."
The Disintegrator has enormous potential to become a world leader in its market.
For example, multiple sclerosis, diabetes and HIV Patients may require daily
injections; this device will ensure that their syringes do not end up harming
anyone from family members to waste haulers.
A congressional bill (S, 1312) is pending which would amend Title XVIII of the
Social Security Act to provide for coverage of supplies associated with the
injection of insulin, of containment, removal, decontamination, and disposal of
home-generated needles, and syringes, through a sharps container, or
decontamination/destruction device under part D of the Medicare program.
The Disintegrator is already gaining a warm reception from the market. In March
2009, Safeguard delivered 5000 units to one of the world's largest healthcare
enterprises. Since then, that global enterprise has placed an additional order
for 2000 Disintegrator units (which American Scientific Resources will fulfill)
and a competing healthcare enterprise has expressed interest to procure an even
larger supply than the combined orders above.
Additionally, according to Safeguard, the first enterprise has a specialty
injection drug that is one of the top selling drugs in their line up. Eventually
they would like to have a Disintegrator in every such user's home in the EU
within 3 years; that translates to over 200,000 units; there are approximately 2
million specialty injection drug users worldwide. With health care transitioning
into the home from the facility, ASFX sees the device as a global leader in
Needle Disposal Technology.
The Company plans to introduce the product commercially in the fall of 2009. The
private label, proprietary models being marketed to the large healthcare
enterprises will be sold for upwards of $120. The Disintegrator is EPA
recommended.
About American Scientific Resources, Inc.
American Scientific Resources, Inc. is a holding company for two wholly owned
subsidiaries, Kidz-Med, Inc. and Heart Smart System. The Company's objective
is to locate and acquire innovative health and safety products that are
successfully sold abroad, and to introduce and promote them to the North
American market. For information, visit the corporate web site at
www.americansci.com and the Company's subsidiary, Kidz-Med, Inc. at
www.kidzmed.com.
