Medisafe 1 Technologies to develop new medical locking devices for intravenous administration

Nov 22 2010

Medisafe 1 Technologies Corp. (OTCBB: MFTH), a developer of patented technologies that physically prevent unauthorized administration of prescription medications, announced today that that the company's board of directors has approved the research and development of two new medical locking device products.

In addition to the company's patented syringe locking device, the company will now seek to develop bar-coded locking devices for intravenous infusion bags, as well as blood transfusion bags.

It is estimated that the new technology will be ready for demonstration within three months' time.

The locking devices will physically prevent the intravenous administration of medications or blood, unless the prescribed dosages and/or blood type of the intended patient are first confirmed electronically.

"Human errors, both the improper labeling of bags as well as improper administration, are among the leading causes of blood transfusion related deaths," said, Jacob Elhadad, CEO of Medisafe 1 Technologies. "Applying the concepts behind our patented syringe bar-coding and locking device technology to transfusion and infusion bags can contribute to a reduction in the number of preventable deaths in hospitals.

"In addition, this technology can significantly reduce legal malpractice and hospital insurance fees," Elhadad added.