|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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