Medisys PLC - Chairman's AGM Statement
11 Dezember 1997 - 3:50PM
UK Regulatory
RNS No 5871k
MEDISYS PLC
11th December 1997
MEDISYS PLC
Annual General Meeting
and Trading Update
Medisys PLC, the medical device company which was admitted to AIM on 28 July
1997, announces that all resolutions put before shareholders were duly carried
at the Annual General Meeting held today in London.
Following completion of the formal proceedings of the meeting, Chairman, Mr.
Bill Bruce, made the following statement on developments since the year-end:
"At the time of the announcement of the Company's 1997 Preliminary Results
last October, I stated that the Board was actively engaged in seeking new
technologies and acquisition opportunities for your Company. I am happy to
report that we are making satisfactory progress on both fronts.
"I am also delighted to confirm to shareholders that the NicSafe 1800 needle
disposal system was recently approved for distribution in the United States by
the US Food & Drug Administration and is the first and only needle destroyer
to gain FDA approval for clinical use.
"The US FDA is recognised as having some of the most stringent testing
procedures for new medical products anywhere in the world. As a results of
the approval, our product's reputation has been greatly enhanced. Recent
changes in legislation in the US will allow us to advertise the NicSafe 1800
as FDA approved.
"Following FDA approval, we are now progressing toward our product launch in
the United States. Test marketing in selected sites is underway and we expect
to be in a position to commence sales during the first quarter of 1998, in
keeping with plan.
"I am pleased to announce that we have entered into an agreement with B.
Braun, the German multi-national medical products company, who will be
distributing the NicSafe 1800 in nine Asia Pacific countries. B. Braun has
been a customer of Hypoguard. This expanded relationship represents the
synergy your Board saw at the time of the acquisition.
"Hypoguard itself will be introducing two new glucose monitoring meter
products this month and early in the new year. Hypoguard has a history of
innovation in the diabetic products marketplace, and these new products will
continue our technological leadership in the field.
"Biocure research continues to make encouraging progress. We are in
discussion with a number of parties with a view to securing funding for future
R & D while retaining significant interest in the outcome for shareholders.
"As I said at the year-end, Medisys PLC has undergone major changes over the
past few months, both in management and strategic direction. The current year
will be one of consolidation, new product introductions and growth, and the
Board looks forward with confidence to a successful outcome".
Enquiries:
Medisys PLC:
Brian Timmons, Finance Director 0171 436 3353
Binns & Company:
Peter Binns or Paul Vann 0171 786 9600
Editors' Notes:
The NiC 1800 system - the first product to be launched by the biohazardous
medical waste division of Medisys - is marketed to healthcare institutions and
private practitioners as a cost-effective way of disposing of used needles and
reducing the incidence of needlestick injuries among healthcare workers.
END
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