JERUSALEM and NEEDHAM, MA, Oct. 30 /CNW/ - Oridion Systems Ltd. (SWX:
ORIDN) today announced a three-year purchase agreement with Kaiser Foundation
Health Plan, Inc., America's largest non-profit health care provider and the
largest non-military medical customer in the world. The agreement is for
Oridion patented capnography (Microstream) monitors and CO2 breath sampling
With this agreement, Oridion becomes Kaiser's sole supplier for Oridion's
consumable products, thus providing savings for the entire Kaiser system of
hospitals and outpatient facilities. The Kaiser network includes more than 30
hospitals and some 400 other health care facilities.
Gerry Feldman, President of Oridion, said, "We are very proud to have
entered into this agreement with Kaiser, a recognized leader in healthcare
innovation and best practices. Oridion's mission is to increase patient safety
and improve patient outcomes based on proprietary solutions that utilize
information from the patient's respiratory system. Kaiser's use of our
technologies is very validating."
The agreement covers Microstream capnography monitors, including the
Capnostream(R) 20 with Smart Capnography(TM). Smart Capnography is a family of
superior algorithms and software that reduces alarms, improves workflow, and
provides clinical utility for improved patient safety. The agreement also
includes Oridion's single-use FilterLine CO2 breath-sampling lines, which
contain unique, patented features that deliver the most accurate and reliable
breath sampling results.
Oridion Systems Ltd. (http://www.oridion.com) is a global medical device
company specializing in patient safety monitoring. The Company operates
through wholly owned subsidiaries in the United States, Europe, and Israel.
Oridion develops proprietary medical devices and patient interfaces,
based on its patented Microstream(R) technologies, for the enhancement of
patient safety through the monitoring of the carbon dioxide (CO2) in a
patient's breath. These products provide effective, proven airway management
and are used in various clinical environments, including procedural sedation,
pain management, operating rooms, critical care units, post-anesthesia care
units, emergency medical services, transport, alternate care and other
settings where patients' ventilation may be compromised and at risk.
Kaiser Foundation Health Plan is a Health Maintenance Organization with
more than 8.5 million members in nine US states and the District of Columbia.
It is one of the largest not-for-profit managed health care companies in the
US. Kaiser has an integrated care model, offering both hospital and physician
care through a network of hospitals and physician practices operating under
the Kaiser Permanente name. Members of Kaiser health plans have access to
hospitals and some 400 other health care facilities operated by Kaiser
Foundation Hospitals and Permanente Medical Groups, associations consisting of
about 13,000 doctors.
Certain statements made herein that are not historical are
forward-looking within the meaning of the Private Securities Litigation Reform
Act of 1995. The words "estimate" "project" "intend" "expect" "believe" and
similar expressions are intended to identify forward-looking statements. These
forward-looking statements involve known and unknown risks and uncertainties.
Many factors could cause the actual results, performance or achievements of
the Company to be materially different from any future results, performance or
achievements that may be expressed or implied by such forward-looking
statements, including, among others, our ability to maintain profits, the
market demands for our Capnography products, our ability to focus our team on
the Capnography business, changes in general economic and business conditions,
inability to maintain market acceptance to the Company's products, inability
to timely develop and introduce new technologies, products and applications,
rapid changes in the market for the Company's products, loss of market share
and pressure on prices resulting from competition, introduction of competing
products by other companies, inability to manage growth and expansion, loss of
key OEM partners, inability to attract and retain qualified personnel,
inability to protect the Company's proprietary technology.
Furthermore, this press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities. The Company's shares issued
have not been, and will not be, registered under the US Securities Act of
1933, as amended (the "Securities Act"), or under any of the relevant
Securities Laws of any state of the United States. The Company's shares may
not be offered, sold or delivered, directly or indirectly, to, or for, the
account of any US person (as defined in regulation S under the Securities Act)
in or into the United States, or by use of the US mail, or by any means or
instrumentality of United States interstate commerce, absent registration, or
an exemption from registration under the Securities Act.
For further information:
For further information: Alan Adler, Chairman and Chief Executive
Officer, Walter Tabachnik, Chief Financial Officer, Elena Gerberg, Investor
Relations, e-mail: email@example.com, website: http://www.oridion.com,
phone: +972-2-589-9159, address: Oridion Systems Ltd., P.O. Box 45025, 91450