Significant near-term sales anticipated for the Company's
from MAGNET's network of 11,000 healthcare providers
Ticker Symbol: TOS/TSX
Shares Outstanding: 47,863,402
QUEBEC CITY, Oct. 9 /CNW Telbec/ - Mr. W. Barry McDonald, Interim
President and Chief Executive Officer of TSO3 Inc. ("TSO3") (TSX: TOS) is
proud to announce that the Company has been selected as a vendor partner by
the Mid-Atlantic Group Network of Shared Services (MAGNET), one of the oldest
and largest group purchasing organizations in the United States. East
coast-based MAGNET, serves 11,000 healthcare providers by offering access to a
contract portfolio of high-quality capital equipment and services. As a vendor
partner, TSO3 will supply MAGNET's members with its low temperature ozone
sterilization system for hospital environments. Significant sales are
anticipated in the near-term as a result of this agreement.
"It is an honour for TSO3 to be chosen as a vendor partner of MAGNET,
which has stringent selection criteria in terms of product quality and
pricing. MAGNET's vast membership network includes 775 U.S. hospitals - our
primary target market," adds Mr. McDonald. "We believe many of MAGNET's
members will greatly benefit from our safe, effective,
environmentally-friendly and affordable sterilization technology. For these
reasons, we are confident that many will be interested in acquiring our
Sterizone(R) 125L Ozone Sterilizer," he added.
"I am pleased to welcome TSO3 to MAGNET as a vendor partner," said
Derwood B. Dunbar, Jr., President & CEO of MAGNET Inc. "I see a real
opportunity among our membership of healthcare providers for a cost-effective
and innovative solution such as TSO3's Sterizone(R) 125L Ozone Sterilizer,"
Mr. Dunbar added. "We look forward to co-marketing this promising technology
with TSO3 via MAGNET's network of regional groups."
This agreement is a highly promising breakthrough into the U.S.
healthcare sector for TSO3. "In addition to the new customer sales potential
offered by this new partnership, the strength of the MAGNET name will also
contribute toward raising market awareness about our innovative and patented
sterilization process. Such recognition should contribute toward continuing
our sales momentum as we implement our business development initiatives
throughout North America and internationally," explained Ann Hewitt, Vice
President, Global Sales for TSO3.
Founded during the 1979 Middle Atlantic Health Congress, the Mid-Atlantic
Group Network of Shared Services (MAGNET) was created to develop contracts on
behalf of its Member Organizations (Hospital Central Services Cooperative,
Joint Purchasing Corporation, Monmouth Ocean Health Care Cooperative,
Southwest Ohio Healthcare Affiliates, Connecticut Hospital Association Shared
Services Program and Association Management Resources) in the niche market of
capital equipment. MAGNET is one of the oldest, largest, and most experienced
shared service organizations in the United States. Today, MAGNET serves
approximately 11,000 providers, including hospitals, alternate care
facilities, and physician practices and clinics with a contract portfolio that
includes equipment, services, commodities and the newly emerging area of
niche/boutique (innovative and cost-reducing) products.
Additional information may be found on the MAGNET Web site at
TSO3, founded in Québec City in 1998, specializes in the research and
development of innovative, high-performance medical instrument sterilization
technology with high commercial potential. The Company's first product, the
125L Ozone Sterilizer, is designed for sterile processing centers in the
In contrast to other methods used, the ozone sterilization process
developed and patented by TSO3 meets all standards required by the evolution
in sterilization needs, which are: significant costs savings, increased safety
for patients and hospital staff, and a "green" environmentally safe process.
The Company believes that its technology represents an advantageous
replacement solution to other low temperature sterilization processes
currently used in hospitals.
The 125L Ozone Sterilizer is cleared for commercialization by the US Food
and Drug Administration and by Health Canada. TSO3 has been in the
commercialization phase for this first product since 2006.
For more information about TSO3, visit the Company's Web site at
The statements in this release and oral statements made by
representatives of TSO3 relating to matters that are not historical facts
(including, without limitation, those regarding the timing or outcome of any
financing undertaken by TSO3) are forward-looking statements that involve
certain risks, uncertainties and hypotheses, including, but not limited to,
general business and economic conditions, the condition of the financial
markets, the ability of TSO3 to obtain financing on favourable terms and other
risks and uncertainties.
The TSX has neither approved nor disapproved the information contained
herein and accepts no responsibility for it.
For further information:
For further information: Marc Boisjoli, CFO, (418) 651-0003, ext. 228,
firstname.lastname@example.org; Frédéric Tremblay, HKDP, (514) 395-0375, ext. 234; Source: