TAMPA, Fla., May 25, 2004 (PRIMEZONE) -- Southwestern Medical Solutions, Inc. (Pink Sheets:SWML) is pleased to report that, during prototype development and clinical evaluation of its Labguard Accucheck(tm), it has ascertained that the key component of the system, the part that performs the on-site analysis, and that also sets Labguard Accucheck(tm) apart from competing products owing to improved technology, is a universal component that can be readily adaptable to use with currently stocked specimen collection-container devices, thus garnering considerable cost savings over current systems, and also making the proposed switchover from current specimen collection & analysis systems even more attractive to end users. Management believes that this valuable element of universality will greatly assist in achieving market penetration and rapid capture of significant market share by Labguard Accucheck(tm) upon ultimate product launch.
The On-Site Collection And Diagnostic Testing Market
The prevalence of on-site testing of employees, job applicants, military personnel, public service workers, prison inmates and parolees, students & athletes, to detect the use of illicit substances has exploded across North America during the past decade, creating a dynamic growth industry practically over night.
Problems With Current On-Site Testing Procedures -- The handling of test subjects' bodily fluids poses significant risks to medical personnel and diagnostic test administrators. Extra, "unnecessary" steps in current collection and analysis procedures heighten the risk of exposure to fluid-borne pathogens. The Company's technology reduces the number of steps in that process, thus increasing efficiency while lowering risks to healthcare workers and test administrators.
Southwestern Medical Has The Solution - The Company's proprietary Labguard Accucheck(tm) 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, Labguard Accucheck(tm) has already attracted expressions of strong interest from several major medical-device distribution companies, both in the U.S. and abroad. Management believes that the launch of Southwestern Medical Solutions' promising Labguard Accucheck(tm) system will usher in the second generation of on-site collection and analysis technology. Longer term, the Company intends to develop and/or acquire other proprietary medical devices and technology that represent significant advancement in their respective fields, and to also continue developing strategic distribution alliances that will enhance its presence in the medical technology fields worldwide.
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.