MONTVALE, N.J., Jan. 30, 2008 (PRIME NEWSWIRE) -- Ivivi Technologies, Inc. (Nasdaq:IVVI), a leader in non-invasive, electrotherapeutic technologies, today reported that the Company's proprietary pulsed electromagnetic field (PEMF) technology to reduce pain and swelling, and help repair related injured tissue, is expected to be discussed in a presentation to the U.S. Senate Special Committee on Aging and the U.S. Senate Medical Technology Caucus by Ecumen, one of the country's largest non-profit senior housing, services and development companies. Testifying will be Kathy Bakkenist, Ecumen's Chief Operating Officer and Senior Vice President of Strategy and Operations, and Honor Hacker, a resident of an Ecumen community in St. Paul, Minnesota. The hearing will take place today, January 30, 2008 in the Dirsken Senate Office Building Room G50 in Washington, D.C., from 2 p.m. to 4 p.m.
In its work to improve quality of life and help seniors live as independently as possible, Ecumen has introduced a variety of technologies in its facilities over the last three years, including Ivivi's PEMF technology, designed to non-invasively treat injured soft tissue pain and swelling, for which white papers were released (http://www.ecumen.org/whitepaper.html).
PEMF technology, including Ivivi's SofPulse, Roma(3) and Torino devices, has been safely used in over 600,000 treatments since the mid 1990's. Ivivi believes the need for such technology will continue, driven by an aging population as well as the rise in the incidence of diabetes and obesity. According to U.S Census Bureau statistics, by 2030, one in every five people in the United States will be 65 or older, compared to 12 percent in that age group now, and by 2050 there will be more than a million people over age 100.
"We believe our PEMF technology is well-suited to helping seniors, both in and out of facilities, manage their wounds," said Andre' DiMino, Vice Chairman and Co-Chief Executive Officer. "As the baby boom generation edges into retirement, we expect that wound care will be a growing problem, particularly given that this patient population often lacks mobility."
"We share Ecumen's commitment to improve aging services through the implementation of technology designed to improve clinical outcomes through less invasive procedures and reduced recovery times, all in lower cost settings. We look forward to continuing our work with Ecumen, among other innovators, to provide non-invasive, easy-to-use technology with no known side effects," said David Saloff, Ivivi's President and Co-CEO.
The need for effective and cost efficient wound care treatments continues to gain increased attention, following Medicare's August 2007 announcement that it would stop reimbursing hospitals in 2008 for certain conditions and infections acquired after admission in a continuing effort to link payments to quality. Pressure ulcers (Stage III and IV) are among the most prevalent, costly and dangerous on the list. In addition to interfering with recovery, lengthening hospital stays and causing extreme pain and discomfort, pressure ulcers can increase the risk of infection, with nearly 60,000 deaths annually from hospital-acquired pressure ulcers.
Unlike numerous adjunctive wound care therapies that either don't address pain management, or in the case of negative pressure wound therapy (NPWT), cause increased pain, Ivivi's technology has been shown to reduce pain. The company's non-invasive technology also exhibits anti-inflammatory properties and Ivivi believes its electrotherapy shows promise as an alternative to controversial non-steroidal anti-inflammatory drugs (NSAIDs) and other chemically based drug therapies, without any known side effects.
About Ivivi Technologies, Inc.
Based in Montvale, NJ, Ivivi Technologies, Inc. is a medical technology company focusing on designing, developing and commercializing its proprietary electrotherapeutic technology platform. Ivivi's research and development activities are focused specifically on pulsed electromagnetic field, or PEMF, technology, which, by creating a therapeutic electrical current in injured soft tissue, modulates biochemical and physiological healing processes to help repair the injured tissue and reduce related pain and inflammation. The Company's Electroceuticals(tm) have been used in non-invasive treatments for a wide array of conditions, including chronic wounds, pain and edema following plastic and reconstructive surgery and chronic inflammatory disorders.
Forward-Looking Statements
This release contains "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including those related to strategic partnerships and future revenues. Forward-looking statements reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, they give no assurance that such expectations will prove to be correct and you should be aware that actual results could differ materially from those contained in the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, the Company's limited operating history, history of significant and continued operating losses and substantial accumulated earnings deficit, difficulties with its financial accounting controls, the failure of the market for the Company's products to continue to develop, the inability for customers to receive third party reimbursement, the inability to obtain additional capital, the inability to protect the Company's intellectual property, the loss of any executive officers or key personnel or consultants, competition, changes in the regulatory landscape or the imposition of regulations that affect the Company's products and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's Form 10-KSB for the fiscal year ended March 31, 2007. The Company assumes no obligation to update the information contained in this press release.