TAMPA, Fla., Jan. 3, 2005 (PRIMEZONE) -- Southwestern Medical Solutions, Inc. (Pink Sheets:SWNM) is pleased to announce that its Labguard development efforts have created new manufacturing technologies with the potential to allow increased production of the Labguard system at significantly lower costs than had been originally projected.
The advancements in manufacturing capabilities have been brought on through work at the developmental facilities in the design phases of product, specifically for OEM applications and worldwide clients. These manufacturing improvements allow the company to continue exploring exciting applications for the Labguard products, while at the same time, providing the opportunity to quickly take a great concept to the sellable product stage in a shorter period of time, as compared to traditional conventional manufacturing processes.
Vice President of New Product Development Richard Powell stated, "Our timelines for bringing new product ideas to market have been dramatically reduced through innovative manufacturing processes which we intend to patent. Providing a technically advanced product at an economically attractive price to the worldwide healthcare community is at the core of Southwestern Medical Solution's goals." Powell added, "It is gratifying to know your timelines are within the scope of reality and of course budgets. To save both time and money, and bring advancements to the medical community, you have got to look at the steps that brought you there, and replicate that process."
Southwestern Medical will continue to explore these exciting avenues to determine which organizations will play essential roles in commercializing Labguard and expanding the market presence.
Southwestern Medical Has The Solution -- The Company's proprietary Labguard system for on-site collection & diagnostic testing technology represents a revolutionary approach that ensures greater safety and convenience for diagnostic testing administrators at an attractive, market-competitive price. Currently in the final prototype stage, the Labguard system has already attracted expressions of strong interest from several major medical-device distribution companies, both in the U.S. and abroad. Numerous applications of the Labguard system to address specific market needs, such as non-invasive drug screening, HIV testing, etc. are currently in the design, prototype and/or testing stages.
The statements made in this press release, which are not historical facts, contain forward-looking statements concerning potential developments affecting the business, prospects, financial conditions and other aspects of the company to which this release pertains. The actual results of the specific items described in the release, and the company's operations generally, may differ materially from what is projected in such forward- looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.