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Copying this over from the NQCI stock thread. Seems more relevent here... ********************************************** National Quality Care, Inc. Acquires a Patent Application For a New Dialysis Device LOS ANGELES, March 5 /PRNewswire-FirstCall/ -- National Quality Care, Inc. (OTC Bulletin Board: NQCI - news), announced today that it has purchased a patent application for a new portable kidney dialysis device. The patent application covering the device was recently filed. The Company is currently in the process of developing the new device. The device was invented by Victor Gura MD, the Company's CEO. The Company anticipates that a fully functional device would, if successfully developed, triple the capacity of the current dialysis machines, and avoid the need for dialysis patients to sit for 3 or 4 hours, three times a week, hooked up to a large, fixed location dialysis machine and avoid repeated painful needle sticks each time that the patient receives dialysis treatment. When developed, a fully functional device is anticipated to reduce or eliminate hypertension and fluid overload affecting most patients in the dialysis population. Dr. Gura hopes that the device will reduce the need for numerous drugs prescribed to dialysis patients, and eliminates the severe fluid and dietary restrictions imposed upon these patients. The design of the technology is intended to significantly decrease patient hospitalizations and mortality, significantly improve their quality of life and also lower the high labor costs associated with dialysis. Currently, there are approximately 300,000 dialysis patients in the US alone and their number is increasing by about 10% a year. National Quality Care, Inc. is a provider of integrated hemodialysis services for patients suffering from chronic kidney failure. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management, and are subject to certain risks or uncertainties. The Company cautions readers of this press release that numerous factors could cause the Company's actual results, performance or achievements in 2002 and beyond to differ materially from the results, performance or achievements expressed in, or implied by, such forward-looking statements. These risk factors include, among others, the risk that 1) The device may not receive FDA approval; 2) the Company has not conducted clinical trials for the device and the outcome of those trials is uncertain; 3) the medical community may not accept the device as suitable for dialysis treatment; 4) there may be side effects or dangers associated with operation of the device; 5) the Company may not be able to obtain necessary financing; 6) there is substantial competition from better financed and more established companies for the development of new technology in the dialysis business; 7) new technological developments may render the device obsolete; and 8) NQCI may not receive a patent on the device or the patent may not be enforceable. Investors should refer to documents that the Company files from time to time with the Securities and Exchange Commission for a description of certain factors that could cause actual results to vary from current expectations and forward-looking statements contained in this press release. Such filings include, without limitation, the Company's Form 10-KSB, Form 10-QSB and Form 8-K reports. SOURCE: National Quality Care, Inc. | ||||||||||||||
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