Protectus Medical Devices, Inc. ("Protectus Medical Devices") (OTCBB/exchange>: PTMD), a developer and marketer of innovative medical devices, today announced the signing of a three-year manufacturing agreement with Moll Industries, Inc. to provide injection molded plastic manufacturing services for the Protectus Safety Syringe.
"This is a major milestone for Protectus Medical Devices and is a critical step in creating the infrastructure for moving the Company forward," said Dr. John Salstrom, President and CEO of Protectus Medical Devices. "I am pleased to report that we have completed our negotiations with Moll Industries and have signed a comprehensive manufacturing agreement for the production of the Protectus Safety Syringe. As one of the premier plastic molders in North America, Moll Industries will be able to support us through the various phases of our manufacturing process as we look to ramp-up production of the Protectus Safety Syringe and introduce the device to hospitals and healthcare institutions across the country and, eventually, worldwide. We believe that Moll's extensive knowledge of injection molding, and specifically their expertise in manufacturing medical devices, will allow the Company to bring our innovative hypodermic safety syringe product to market quite cost-competitively."
Moll Industries has been providing solutions for the medical industry for over thirty-five years and has full FDA Compliance, TS and ISO 13485 Certification. With injection molding machines ranging from 25 to 600 tons, and clean room assembly and automation, Moll Industries supplies molded and finished devices to the medical markets in the United States and Europe. (Source: Moll Industries, Inc.)
As one of the most experienced global injection molders and full-service contract manufacturers, Moll forms strategic partnerships to deliver high-quality products manufactured with cost-effective process optimizations. Moll utilizes Six Sigma engineering expertise and Lean Manufacturing to yield maximum results for customers' unique objectives. (Source: Moll Industries, Inc.)
Dr. Salstrom added, "We are confident that the 'manufacturing-friendly' design of the Protectus Safety Syringe, together with the manufacturing expertise of Moll Industries, will ultimately allow the Protectus device to be priced at the low end of the spectrum on the distributor level as production is scaled up."
The Protectus Safety Syringe is the only fully automatic, self-sheathing safety hypodermic syringe that currently meets all U.S. Federal Government and OSHA mandates designed to protect both healthcare workers and patients alike. It is designed to significantly reduce or eliminate accidental needlestick injuries that have plagued the healthcare workplace for decades. More information about Protectus Medical Devices may be found at the Company's corporate website at www.protectusmedical.com.
Protectus Medical Devices, Inc.