Steve, CHECK THIS OUT !!!
Bio-Plexus and Graphic Control Sign
Distribution Agreement
Business Wire - October 15, 1998 11:20
VERNON, Conn.--(BW HealthWire)--Oct. 15, 1998--Bio-Plexus, Inc.
(NASDAQ:BPLX), designer, developer, manufacturer, and marketer of
safety medical needles and other products under the
PUNCTUR-GUARD(R) and DROP-IT(R) names, today announced a
non-exclusive supply and distribution agreement for the United
States and Canada with Graphic Controls Corporation of Buffalo,
New York. The agreement allows Graphic Controls to purchase and
distribute Bio-Plexus Drop-It Needle Disposal Containers and Drop-It
Quick Release Needle Holders.
"Graphic Controls is a major supplier of sharps containers in the
United States and has contracts with the major group purchasing
organizations (GPO's) in the country. We expect that this
relationship will result in quick market penetration for Bio-Plexus
products in otherwise hard-to-access accounts," said Thomas K.
Sutton, Executive Vice President for Marketing & Sales at Bio-Plexus.
"We further expect that this Supply and Distribution Agreement will
help grow our business by increasing sales in the near term," he
continued. "When combined with the news of the new California law
mandating the use of safety needles, this is an extremely significant
event for Bio-Plexus and yet another indicator of the opportunity to
expand our sales and distribution network," Sutton concluded.
Bio-Plexus holds U.S. and international patents on safety medical
devices marketed under the Punctur-Guard and Drop-It brand names.
These devices are designed to reduce the incidence of accidental
needlesticks among healthcare workers. In a Centers for Disease
Control study, Punctur-Guard Blood Collection Needles were
found to reduce the rate of accidental needlesticks by 76%, the
highest rate of any device studied. Accidental needlesticks number
more than 950,000 per year in the United States and can result in the
transmission of deadly diseases including HIV and Hepatitis B and C.
In recent news, Tyco International Ltd. (NYSE:TYC) announced its
intention to purchase Graphic Controls Corporation. Tyco, a leader
in disposable medical products, recently completed strategic
purchases of medical device companies including U.S. Surgical
(NYSE:USS), Kendall Co., and Sherwood-Davis & Geck.
Note: This press release may contain forward-looking statements,
which are subject to change. The actual results may differ
materially from those described in any forward-looking statement.
CONTACT: Bio-Plexus, Inc.
Carol Coburn, 860.870.6112, extension 317
BIO.PLEXUS@SNET.NET
GREAT DAY TODAY. UP 20% ON HUGE VOLUME, MAYBE THE BILL WILL PASS CONGRESS SOON , SOMETHING IS UP BIG TIME. GOOD LUCK |
