BOULDER, Colo., April 2, 2019 /PRNewswire/ -- Encision Inc. (PK: ECIA) announced its Shielded AEM® Laparoscopic Instruments and Monitors have received an Innovative Technology contract from Vizient, Inc. the largest member-driven health care performance improvement company in the country. The contract was based on a recommendation of Shielded AEM® Laparoscopic Instruments and Monitors by hospital experts in this category who serve on one of Vizient's member-led councils.
Shielded AEM Laparoscopic Instruments are equivalent to conventional instruments in size, shape, ergonomics and functionality, but they incorporate a proprietary shield and electrically connect to an Active Electrode Monitor to continuously monitor the flow of electrosurgical current, thereby preventing patient injuries from intraoperative insulation failure and capacitive coupling.
"Encision is proud that its proprietary patient safety technology was awarded this prestigious Vizient Innovative Technology contract for monopolar surgical instruments and monitors. These products protect patients during surgery," said Greg Trudel, President and CEO of Encision. "This contract will enable us to expand the use of our technology and to provide savings opportunities for Encision's new hospital accounts."
"After a review of Shielded AEM Laparoscopic Instruments and Monitors, Vizient's member council agreed this technology offers a unique benefit over other products available in the market today and recommended it for an innovative technology contract. We are pleased to award this new contract to Encision," said Debbie Archer, director of procurement and leader of the Vizient Innovative Technology program for suppliers.
Vizient represents a diverse membership base that includes academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non-acute health care providers and represents approximately $100 billion in annual purchasing volume. Through its Innovative Technology Program, Vizient works with member-led councils and task forces to review potentially innovative products. If it is determined that a product is innovative, Vizient may award a contract outside of the competitive bid cycle.
Encision Inc. designs and markets a portfolio of high performance surgical instrumentation that delivers advances in patient safety with AEM Technology, surgical performance, and value to hospitals across a broad range of minimally invasive surgical procedures. Based in Boulder, Colorado, the Company pioneered the development and deployment of Active Electrode Monitoring, AEM Technology, to eliminate dangerous stray energy burns during minimally invasive procedures. For additional information about all of its products, please visit www.encision.com.
In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company notes that statements in this press release and elsewhere that look forward in time, which include everything other than historical information, involve risks and uncertainties that may cause actual results to differ materially from those indicated by the forward-looking statements. Factors that could cause the Company's actual results to differ materially include, among others, its ability to develop new or enhanced products and have such products accepted in the market, its ability to increase net sales through the Company's distribution channels, its ability to compete successfully against other manufacturers of surgical instruments, insufficient quantity of new account conversions, insufficient cash to fund operations, delay in developing new products and receiving FDA approval for such new products and other factors discussed in the Company's filings with the Securities and Exchange Commission. Readers are encouraged to review the risk factors and other disclosures appearing in the Company's Annual Report on Form 10-K for the year ended March 31, 2018 and subsequent filings with the Securities and Exchange Commission. We do not undertake any obligation to update publicly any forward-looking statements, whether as a result of the receipt of new information, future events, or otherwise.
CONTACT: Mala Ray, Encision Inc., 303-444-2600, [email protected]
SOURCE Encision Inc.