MEDISYS TECHNOLOGIES, INC

MEDISYS TECHNOLOGIES, INC

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Company Overview
Medisys Technologies, Inc., with registered office located in Baton Rouge, Louisiana, is a development stage company engaged in the development of a childbirth assistance device, as well as other medical devices. The company designs and develops hypodermic safety syringe and other sharps related medical devices. It also develops safety devices that intend to reduce the occurrence of accidental needlesticks in the healthcare workplace. Some of the company’s safety syringe products include CoverTip, PreSaf, designed primarily for prefilled syringe application, SofDraw, a blood collection syringe designed to protect from accidental self-puncture and AmnioSaf. The company owns more than 20 United States and foreign patents covering medical safety devices and other products that offer proprietary, high-potential technology, and has additional patent applications pending for its medical devices in both the United States and overseas. Its strategy is to design and develop products that address concerns about safety.
Business Summary
Medisys Technologies, Inc. is a development-stage corporation focused on the commercialization of CoverTip hypodermic safety syringe and other sharps-related medical devices. The Company owns a total of 20 United States and foreign patents covering medical safety devices and other products that offer proprietary, high-potential technology, and has additional patent applications pending for its medical devices in both the United States and overseas. The Company is a diversified medical device company with a business strategy to design and develop products that address concerns about safety. Due to a lack of adequate funding, effective May 31, 2002, the Company suspended its daily operations and closed its offices.
Description and history
Medisys Technologies, Inc. (Medisys) is a development-stage corporation focused on the commercialization of CoverTip hypodermic safety syringe and other sharps-related medical devices. Medisys owns a total of 20 United States and foreign patents covering medical safety devices and other products that offer proprietary, high-potential technology, and has additional patent applications pending for its medical devices in both the United States and overseas. To take advantage of the new market opportunity created by State and Federal safety regulatory guidelines first introduced by California in 1998, the Company adopted a strategy to focus on commercializing its proprietary group of safety needle devices, including its patented and current lead product, the CoverTip Hypodermic Safety Syringe. Due to a lack of adequate funding, effective May 31, 2002, the Company suspended its daily operations and closed its offices.

Medical Device Safety

The CoverTip Hypodermic Safety Syringe not only provides benefits over standard intramuscular syringes, but also addresses each of the major issues associated with current safety syringes. The superiority of the CoverTip Safety Syringe exits in its conformity to unique, but simple, design criteria for safety, ease of use and cost. First, the window of opportunity for an accidental needlestick is virtually eliminated. The CoverTip device employs a design that provides protection from the sharp needle tip prior to withdrawal from the patient’s skin, protecting the healthcare worker during the drug delivery process, as well as during the disposal of the used syringe. This virtually eliminates any contaminated needle exposure to the healthcare worker and offers an advantage over other safety syringes that require extraction from the patient’s skin prior to implementation of various needle tip protection methods. Single usage of the syringe results in a locking of the protective sheath.

Secondly, the device is easy to use with little or no additional training for the healthcare worker. In contrast to other safety syringes, the CoverTip device is identical to conventional syringes, employing standard syringe usage technique and requiring no costly instruction, medical in-service training, or habit changes for the healthcare professional. The safety feature is passive and automatic with no additional active steps required of the operator. CoverTip is used just as any standard syringe with insertion of the needle into the patient’s skin and depression of the syringe plunger to inject the medicine. As the syringe plunger is depressed, it automatically engages a micro-thin safety sleeve that advances down to cover the tip of the needle after penetration of the skin and subsequent insertion of the medicinal fluid. The needle blunting occurs prior to removal from the patient’s skin, offering added protection at the point of injection to the healthcare worker.

Third, the device is fail-safe by relying entirely on positive mechanical action rather than on buttons, releases, springs, vacuums, or other such complicated additional steps. Finally, the design is economically acceptable, holding down production costs to a reasonable level as compared to both safety devices and current standard products. It is anticipated that the CoverTip safety syringe will maintain reasonable margins as it reduces costs in step with substantial market penetration and high volume production.

PreSaf Lever Fulcrum Hypodermic Syringe is an intramuscular injection safety syringe designed primarily for pre-filled syringe application, which allows medication to be injected into the patient directly from a pre-filled vial. The pre-filled vial containing fluid medication is an existing component used by many pharmaceutical manufacturers. These applications typically include flu shots, pneumonia shots, AIDS serums, and other epidemic treatment or prevention therapies. Like Covertip, PreSaf provides automatic passive protection before withdrawal from the patient’s skin. A United States patent has been granted on this product. Concept design is complete. This device will be marketed as an original equipment manufacturer product and sold to pharmaceutical distribution producers of prefilled syringes.

Diagnostic Sharps Safety

The Company recognizes that diagnostic sharps applications are a critical area of medical device safety. These medical diagnostic products offer the potential for premium margins due to their high cost of procedure, unique presence in the market and market specialization.

VacuSaf, using CoverTip technology, covers and protects the sharp of a blood collection needle while it is still in the vein. The safety mechanism is activated and locked with the first use of a vacuum specimen tube. The sharp is rendered safe prior to withdrawal. The device provides protection to the user and waste handlers and produces the added benefit of protecting the vein lumens during the collection procedure.

SofDraw is a blood/fluid collection syringe designed to protect the clinician from an accidental self-puncture with a contaminated needle during the collection of blood or bodily fluids and through the transfer of fluids into vials for transport and study. AmnioSaf is a safety syringe device designed to protect both the physician and the fetus during amniocentesis. Protection of the fetus is provided through reduction of the risks of eye, thorax, cord or placental puncture.

BX-T-Draw OBTSN (Obdurated Titanium Safety Needle) is designed for use with MRI (magnetic resonance imaging) placement to take a tissue sample with a cutting needle. Concept design is complete and the company has a clear patent search. As with BxDraw, the BX-T-Draw device should be specialty marketed to radiologists, oncologists, general surgeons and other diagnosticians.

CoverStik is a device that permits safe collection of capillary blood. The small cutting blade is passively and automatically retracted into a protective housing concurrent with skin puncture. Applications include checks for glucose levels, clotting and blood gases. As a system, CoverStik protects the user and eliminates reusable carriers, which contaminate easily and are known sources of pathogen transfer, particularly hepatitis. Conceptual design work is complete. The Company has a clear patent search and will file a patent application as soon as final design alternatives are complete.

Business Line
Development stage company engaged in the development of a childbirth assistance device, as well as other medical devices
Subsidiary

Advisor
HJ & ASSOCIATES, LLC
IPO date

US SIC Code
3841
Company Address
144, Napoleon Street

City province or state postal code
70802, BATON ROUGE, LA
Phone: +1 225 343 8022
Fax: +1 225 343 8023
Country address: UNITED STATES OF AMERICA
Website url: www.medisystech.com