JERUSALEM, December 8, 2010 /PRNewswire-FirstCall/ -- Medisafe 1 Technologies Corp. (OTCBB: MFTH), a developer of patented technologies that physically prevent unauthorized administration of prescription medications, announced today that the company conducted an official demonstration of its barcoded syringe locking device at Israel's National Ministry of Health.
Several government officials were present at the demonstration including Deputy Minister Yaakov Litzman. Attendees from the ministry expressed their optimism for the implementation of the device at the nation's hospitals, and invited Medisafe 1 Technologies for a follow-up meeting with ministry professionals serving in operational capacities.
In addition, attending ministry officials discussed the possibility of adding the syringe safety technology to Israel's nationwide Pharmaceuticals Program. Admittance to the program would grant federal subsidies for the implementation of the technology.
The Health Ministry is officially headed by Prime Minister Benjamin Netanyahu.
"Our demonstration impressed upon the ministry the importance of electronically confirming the administration of a particular medicine or dosage to a patient, and the life-saving benefits of physically preventing the administration of an incorrect medicine or dosage," said, Jacob Elhadad, CEO of Medisafe 1 Technologies.
"We would like to thank the attending ministry officials including the Deputy Minister for their consideration and enthusiasm, and we look forward to our follow-up meeting with the professionals responsible for the nationwide implementation of medical technologies."
About Medisafe 1 Technologies
Medisafe 1 Technologies seeks to effectively prevent unauthorized administration of a drug or medicinal substance by hypodermic needle. Medisafe's patented technology is a medical assembly with a locking mechanism that is intended to ensure the substance cannot be released from the hypodermic needle without positive pre-matching between the substance and its intended patient.
This letter contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of Medisafe 1 Technologies Corp., and its technologies. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release, as actual results may differ materially from those indicated. Medisafe 1 Technologies Corp. public filings may be viewed at http://www.sec.gov.
Contact: Jacob Elhadad CEO +972-524440000 Jacob.email@example.com
SOURCE Medisafe 1 Technologies Corp.