LITTLE RIVER, S.C., Feb. 21, 2019 (GLOBE NEWSWIRE) -- PCT LTD (OTC Pink: PCTL), through its operating subsidiary, Paradigm Convergence Technologies Corporation (PCT Corp), a leader in environmentally safe, non-toxic, antimicrobial solutions for infection control, announced today its continued expansion and recognition throughout the State of New York for its patented Annihilyzer® Infection Control System.
In 2015, 52 hospitals in New York were flagged red for having hospital-associated infection (HAI) rates higher than the state average in one of 21 indicators, according to a report from the New York State Department of Health. An article published in December 2018 of the New York Times declared that hospital-associated infections have declined since that report. However, most of the reductions were in urinary tract and surgical site infections. There were no declines in pneumonia and infections with C. difficile, a germ that can cause severe gastrointestinal disease.
Cases of C. diff can result in hospital costs in excess of $40,000 per case for patients diagnosed. In recognition of the burden of C. diff and HAIs, the US Department of Health and Human Services initiated a National Action Plan to Prevent HAIs with goals of a 30% reduction in C. diff rates and hospitalizations by 2013. U.S. hospitals treat 165,000 cases of hospital-acquired, hospital-onset C. difficile per year, which add $1.3 billion in excess costs and cause 9,000 deaths. The problem continues to persist and the demand for hospitals to control and prevent C. diff along with other (HAI’s) is ever increasing.
Jody Read, CEO of PCT LTD, said, “The Company is ready to offer something unique to the healthcare industry as our system produces a ready-to-use hospital level disinfectant effective against HAI pathogens including C. diff., along with RFID Tracking, a suite of Electrostatic Applicators, Protocol Reporting using Cloud-based system and SMART devices allows for a more effective solution to the problem of HAI’s. After successful completion of the limited-time trial installation, we anticipate a 36-month contract to further our relationship with the specific hospital, which is located in New York. The Company may then supply systems for this hospital group combined with others, which consist of over 10 hospitals. We are pleased our product has been recognized for such a great opportunity and are ready to become part of the solution to such an epidemic.”
About PCT LTD
PCT LTD (“PCTL”) focuses its business on acquiring, developing and providing sustainable, environmentally safe disinfecting and tracking technologies products. The company acquires and holds rights to innovative products and technologies, which are commercialized through its wholly-owned operating subsidiary, Paradigm Convergence Technologies Corporation (PCT Corp). Currently trading on OTC, “PCTL” aspires to and is actively engaged in preparations for up-listing its common stock to a national securities exchange. The Company established entry into its target markets with commercially-viable products and now prepares to gain market share.
Forward-Looking Statements
This press release contains "forward-looking statements" as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Such statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Such statements involve risks and uncertainties, including but not limited to: any implied or perceived benefits resulting from the continued positive results relating to the installation of PCT’s Annihilyzer® systems in hospitals; the results of any manufacturers’ representative and/or license agreements, actual sales revenue to be derived from agreements, if any such contract is executed; PCT LTD's and its subsidiary’s business prospects; PCT LTD’s ability to raise sufficient funds to satisfy its working capital requirements; the ability of PCT LTD to execute its business plan or list its common stock on a national stock exchange; benefits of the Annihilyzer® Infection Control Systems, Hydrolyte® generators and fluids; any other effects resulting from the information disclosed above; risks and effects of legal and administrative proceedings and government regulation; future financial and operational results; competition; general economic conditions; and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements PCT LTD makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the United States Securities Exchange Commission. PCT LTD undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contact:
Gary Grieco, Chairman of the Board
(843) 390-7900 Office
(843) 390-2347 Fax
www.para-con.com
www.pcthealth.com
www.survivalyte.com
Brokers and Analysts:
Chesapeake Group
(410) 825-3930
info@chesapeakegp.com