DTC grants eligibility status to Medisafe 1 Technologies

Medisafe 1 Technologies Corp. (OTCBB: MFTH), a developer of a U.S. patented technology that physically prevents unauthorized administration of prescription medications, announced today that the company has been granted eligibility status by the Depository Trust Company (DTC). The DTC provides banks, brokerage firms and other institutions with an efficient means of moving securities and settling trades electronically.

In addition, the company has announced that shares of Medisafe 1 Technologies common stock have commenced trading on the OTC Bulletin Board under the symbol "MFTH".

"Medication administration errors in hospitals cause 400,000 preventable drug-related injuries and 7,000 deaths each year," said Jacob Elhadad, Chief Executive Officer of Medisafe 1 Technologies. "Medisafe technology seeks to significantly reduce instances of such injuries through the implementation of its patented syringe locking-device technology that physically prevents wrong medications from being administered to a patient.

"Today, the global syringe market is estimated at $5.6 billion annually. And legislation in the U.S. is currently mandating that the healthcare industry replace traditional syringes with safer technologies. Plus, a growing number of hospitals are implementing Barcoding Point of Care (BPOC) systems to help ensure that patients are administered the appropriate medications in the prescribed doses.

"Factoring the possibility of widespread implementation, the total potential addressable market for Medisafe technologies could exceed $1 billion per year," Elhadad added.

Source:

Medisafe 1 Technologies Corp.

Posted in:

Comments

The opinions expressed here are the views of the writer and do not necessarily reflect the views and opinions of News Medical.
Post a new comment
Post

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.

You might also like...
Mediterranean diet success looks different for women and men, study of 4,000 adults reveals