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VeriTeQ Delivers Q Inside Safety Technology Readers to Establishment Labs
|By Business Wire
|March 12, 2014 10:20 AM EDT
VeriTeQ Corporation (“VeriTeQ” or “Company”) (OTC Markets: VTEQ), a
provider of implantable medical device identification and radiation dose
measurement technologies, announced today that it has delivered Q Inside
Safety Technology readers to its customer Establishment Labs, S.A.
(“EL”). EL’s Motiva Implant Matrix® breast implants with VeriTeQ’s Q
Inside Safety Technology are the world’s first externally identifiable
breast implants, and are now available to patients in the EU.
VeriTeQ’s FDA cleared Q Inside Safety Technology acts as an electronic
serial number in breast implants and other implantable and reusable
medical devices to give physicians and patients access to a secure
online database to retrieve device-specific data such as serial number,
manufacturer name, date of manufacture, lot number, volume, size, and
other data from the device manufacturer. Q Inside Safety Technology also
provides an extra level of protection to the patient in the event of a
recall or other safety event.
EL has begun the commercial launch of its Motiva Implant Matrix® breast
implants with VeriTeQ’s Q Inside Safety Technology in the European
Union. EL’s Motiva Implant Matrix Ergonomix, VelvetSurface PLUS, and
SilkSurface PLUS, all with VeriTeQ’s Q Inside Safety Technology, have
received CE Mark approval, which enables EL to market its Motiva breast
implants to patients in 28 countries in the European Union and fast
track regulatory approvals in many countries in South America, Middle
East and Asia.
Scott R. Silverman, Chairman and CEO of VeriTeQ, stated, “We continue to
work with our breast implant customer Establishment Labs, to position
them and multiple plastic surgery centers in the EU for a successful
product launch. Patients are now receiving best-of-breed Motiva Implant
Matrix® breast implants with Q Inside Safety Technology to help ensure
accurate device verification at the point of care for the utmost in
patient safety. This is particularly important to providers and patients
in the EU following two recalls of breast implants there recently.”
According to the International Society of Aesthetic Plastic Surgery, the
number of breast augmentation procedures performed worldwide in 2011
exceeded 1.2 million.
VeriTeQ develops innovative, proprietary RFID technologies for
implantable medical device identification, and dosimeter technologies
for use in radiation therapy treatment. VeriTeQ offers the world's first
FDA cleared RFID microchip technology that can be used to identify
implantable medical devices, in vivo, on demand, at the point of care.
VeriTeQ's dosimeters provide patient safety mechanisms while measuring
and recording the dose of radiation delivered to a patient in real time.
For more information on VeriTeQ, please visit www.veriteqcorp.com.
Establishment Labs is a privately held, global breast, body and facial
aesthetic company with offices in Florida, Costa Rica and Belgium, that
designs, develops, manufactures and markets an innovative product
portfolio consisting of advanced silicone-filled breast (www.motivaimplants.com)
and body shaping implants. Utilizing only the highest quality of medical
grade silicones, the CE-marked Motiva Implant Matrix® line is rigorously
scrutinized by professional Quality Engineers throughout the entire
manufacturing process. All its products are produced in full compliance
with ISO and EU requirements, and are certified under the Medical Device
Directive 93/42/EEC. For more information on EL, please visit www.establishmentlabs.com.
Statements in this press release about our future expectations,
including, without limitation, the likelihood that by including
VeriTeQ’s FDA cleared Q Inside Safety Technology in breast implants and
other medical devices, manufacturers, physicians and patients will have
access to a secure online database to retrieve device-specific data such
as serial number, manufacturer name, date of manufacture, lot number,
volume, size, and other data from the medical device manufacturer;
constitute "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934, and as that term is defined in the Private
Litigation Reform Act of 1995. Such forward-looking statements involve
risks and uncertainties and are subject to change at any time, and our
actual results could differ materially from expected results. These
risks and uncertainties include, without limitation, VeriTeQ’s ability
to commercially launch its Q Inside Safety Technology in the EU and UK
in 2014; VeriTeQ’s ability to raise capital; as well as other risks.
Additional information about these and other factors may be described in
VeriTeQ’s Forms 10-Q, filed on August 9, 2013 and November 14, 2013, and
future filings with the Securities and Exchange Commission The Company
undertakes no obligation to update or release any revisions to these
forward-looking statements to reflect events or circumstances after the
date of this statement or to reflect the occurrence of unanticipated
events, except as required by law.
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