Archive for the ‘Medisafe 1 Technologies Corp. MFTH’ Category

Medisafe 1 Technologies Corp. (MFTH) Offers Solution to Billion Dollar Health Care Problem

Tuesday, March 20th, 2012

Imagine the following scenario:

A metropolitan hospital or medical center has two patients with the same or similar names housed in the same room. Although steps are usually taken to avoid things like this, the high volume of patient traffic, together with room shortages, continually changing shifts of support staff, and other factors mean situations like this can and do happen. Later, a nurse that has just started her shift and is unfamiliar with the patients proceeds to administer a scheduled medication to the wrong patient in the room. The medication given reacts with medication the patient is already using, resulting in injury or even death to the unknowing patient.

In our perceived age of medical enlightenment, it can be hard to accept that the kind of basic mistake described above is still a very real problem. Medication errors do happen, and a significant contributing factor is mistaken administration, including giving the right medicine to the wrong patient. In a high-volume healthcare environment, patients with identical or similar names, and perhaps similar profiles, can sometimes cause serious mixups that even the most carefully laid out procedures fail to prevent. According to the National Priorities Partnership, inpatient medication errors in the U.S. are estimated to result in costs of over $16 billion annually, while the Institute of Medicine estimates 7,000 deaths in the U.S. each year come from preventable medication errors.

Medisafe 1 Technologies believes it has the right answer to at least part of the problem. The company develops patented technologies that prevent the unauthorized administration of prescription medications. Specifically, they offer a protector device with a locking mechanism that ensures the medicine is only released from the hypodermic needle after positive technology-based pre-matching with the patient through the use of barcode technology. The locking element is released electronically only on positive match.

For more information, see the company website at www.medisafe1.com

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Medisafe 1 Technologies Corp. (MFTH) Expands Product Offerings with Marketing and Distribution Agreement

Monday, March 12th, 2012

Medisafe 1 Technologies, a developer of patented technologies that physically prevent unauthorized administration of prescription medications, today announced that the company executed a distribution agreement with Natural Dream Laboratories Company Ltd. (http://www.green-charm.com) to carry a broad array of health related products in Natural Dream’s product line.

Natural Dream distributes a robust commercial product line that includes treatments for several health related disorders. The company was founded in 2003, backed by the knowledge of chemists, doctors, pharmacists, and scientists who accumulated more than two decades of experience in research and development.

“The signing of this distribution agreement enables Medisafe 1 Technologies to offer a wider range of medical products to our potential consumers,” stated Jacob Elhadad, CEO of Medisafe 1 Technologies Corp. “Adding products that have proven themselves to be commercially-viable increases the ability of Medisafe 1 Technologies to generate revenues, with the intent of providing value to our company and benefits to our shareholders.”

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Medisafe 1 Technologies Corp. (MFTH) is “One to Watch”

Friday, March 9th, 2012

Medisafe 1 Technologies Corp. is focused on developing and commercializing a proprietary solution that effectively prevents unauthorized administration of a drug or medicinal substance by hypodermic needle. The company’s patented technology is a medical assembly with a locking mechanism designed to protect patients from receiving the wrong medication by requiring positive pre-matching between the substance and its intended patient.

According to the Institute of Medicine, medication mistakes are the most common medical errors. In addition to harmful and even deadly consequences to patients, these errors result in a conservatively estimated $3.5 billion of additional medical costs for treating drug-related injuries. Studies indicate that 400,000 preventable drug-related injuries occur each year in hospitals, another 800,000 in long-term care settings, and approximately 530,000 among Medicare recipients in outpatient clinics.

The sobering number of medication errors and preventable adverse drug events have increased market demand for an effective solution. Healthcare providers understand the importance of having the tools necessary to prescribe, dispense, and administer drugs as safely as possible. Medisafe 1’s approach to reducing these errors not only benefits healthcare organizations and federal agencies, but the industry as a whole and patients as well.

Medisafe 1 has demonstrated its commitment to building shareholder value as its business plan moves forward. In recent news, the company announced the approval of a stock repurchase program that authorizes the repurchase of up to 10 million of its outstanding shares of common stock at a price up to $0.10 per share. Medisafe 1 is also actively seeking to acquire commercial-stage technologies and revenue generating companies that augment its existing business model.

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