Hospira and Q Core Medical Sign International Distribution Agreement for Sapphire Infusion System -- Device enhances Hospira portfolio with next-generation portable infusion pump technology --
LAKE FOREST, Ill., and PETACH TIKVA, Israel, Jan. 22, 2013 /PRNewswire/ -- Hospira, Inc. (NYSE: HSP), the world's leading provider of injectable drugs and infusion technologies, and Q Core Medical, Ltd., an innovation leader in infusion delivery systems, today announced that the companies have entered into a distribution agreement for the Q Core Sapphire™ multi-therapy infusion system. Through the arrangement, Hospira will have exclusive rights to market and distribute Sapphire -- a compact and lightweight infusion device system frequently used in ambulatory and hospital settings -- in more than 60 key markets across Europe, Asia and The Americas. The agreement also enables Hospira to collaborate with Q Core for distribution of its product development pipeline.
"Collaborating with Q Core reinforces Hospira's commitment to providing advanced infusion systems that help improve the safety and efficiency of I.V. (intravenous) medication administration," said Julie Sawyer Montgomery, vice president, Medication Management Systems Marketing, Hospira. "With clinicians in multiple regions using the Sapphire system to support their medication administration needs, the device expands Hospira's ability to help support patient safety in key geographies."
The Sapphire system satisfies a wide range of critical drug delivery needs in ambulatory and hospital care environments and readily adapts to emerging needs. It features a full-color touch-screen and software designed to enable intuitive programming and operation with minimal steps. The smart pump capabilities of the Sapphire system help healthcare organizations support a high level of medication delivery safety. The device is already in use in Canada and Europe, and under regulatory review for registrations in additional countries, including the United States.
"We see great synergy between our companies, combining our advanced technology with Hospira's superb customer support, technology, and global reach," said Dr. Boaz Eitan, CEO of Q Core Medical. "We believe that the addition of our Sapphire brand into Hospira's portfolio marks the beginning of a long-term and fruitful cooperation."
Adding the Sapphire system to the Hospira product portfolio strengthens the breadth of the company's already comprehensive medication management business. Hospira's current portfolio features products such as Plum A+™ with Hospira MedNet™ safety software, a proven and scalable advanced infusion pump system; Symbiq™ infusion system with built-in Hospira MedNet, the first general infusion system to require selection of an entry from the safety software for all drug delivery programs; the market-leading LifeCare PCA™ pain management pump with Hospira MedNet; and the GemStar™ ambulatory infusion device. KLAS recognized Hospira as the early leader in smart pump/EHR (electronic health record) integration, with more live I.V. clinical integration sites than any other infusion pump provider and the only vendor to integrate with multiple EHR providers.1
Financial details of the agreement were not disclosed.
Hospira, Inc. is the world's leading provider of injectable drugs and infusion technologies. Through its broad, integrated portfolio, Hospira is uniquely positioned to Advance Wellness™ by improving patient and caregiver safety while reducing healthcare costs. The company is headquartered in Lake Forest, Ill., and has approximately 15,000 employees. Learn more at www.hospira.com.
About Q Core Medical
Q Core Medical is a dynamic, expanding medical devices company focused on the ambulatory and hospital based electronic infusion pump market. Q Core Medical designs, develops, manufactures, and markets advanced pump systems with multi-treatment I.V., enteral feeding, and veterinary capabilities. Our world-class scientists and engineers are committed to continuous research and development of new and progressive products and technologies. Visit Q Core online at www.qcore.com.
Private Securities Litigation Reform Act of 1995 --
A Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the distribution agreement between Hospira and Q Core Medical. Hospira cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Economic, competitive, governmental, legal, regulatory, technological, manufacturing supply, quality and other factors that may affect Hospira's operations and may cause actual results to be materially different from expectations include the risks, uncertainties and factors discussed under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Hospira's latest Annual Report on Form 10-K and Forms 10-Q filed with the Securities and Exchange Commission, which are incorporated by reference. Hospira undertakes no obligation to release publicly any revisions to forward-looking statements as the result of subsequent events or developments.
1"Smart Pumps 2012: Wireless Technology and EMR Integration," April, 2012. © 2012 KLAS Enterprises, LLC. All rights reserved. www.KLASresearch.com.
SOURCE Hospira, Inc.