Ticker: TSX – TOS
Shares Outstanding: 82,617,989
QUÉBEC CITY, July 6, 2015 /PRNewswire/ - TSO3 Inc. (TSX: TOS) ("TSO3" or the "Company") an innovator in sterilization technology for medical devices in healthcare settings, today announced the formation of a wholly owned subsidiary: TSO3 Corporation, structured under the laws of the State of Delaware, and located in the State of South Carolina, USA. The new entity is being created to meet the demands of US customers for product, service and education.
"During the second quarter the Company focused a great deal of its energies in developing a formal commercialization process for the STERIZONE® Sterilization System." stated R.M. (Ric) Rumble, President and CEO.
"Alone and together with our sales and service partner Getinge Infection Control, the Company has made great strides, which we believe will result in securing contract positions with the largest and leading Group Purchasing Organizations (GPO's) and Integrated Delivery Networks (IDN's). In addition, TSO3 is ushering "scores" of quotes through their individual processes, many of which the Company expects to successfully close. As a result of these efforts, it became clear that it was time to execute our plans to open a US location focused on the education and ongoing service requirements of the US customers." explained Mr. Rumble. "While the foundation and technical expertise of the Company is and will remain in Quebec City, establishing a presence in the US, which represents 40% of the worldwide market, will allow us to more effectively reach out to and service this high opportunity market." concluded Mr. Rumble.
The Company has leased approximately 6,000 square feet of space in Myrtle Beach, South Carolina. The location will house US customer service, clinical education and also will act as a US warehouse and service depot. The new location is expected to open in August of this year in time to meet US customer requirements.
About the STERIZONE® VP4 low temperature sterilizer
The STERIZONE® VP4 Sterilizer developed by TSO3 is a dual sterilant, low temperature sterilization system that utilizes vaporized hydrogen peroxide (H2O2) and ozone. Its single cycle can sterilize a large number and wide range of compatible devices, thereby allowing for a cost effective and error-free sterilization process. TSO3's unique Dynamic Sterilant Delivery SystemTM automatically adjusts the quantity of injected sterilant based on the load composition, weight and temperature. With its large 75 lb load capacity and a short cycle time, the STERIZONE® VP4 Sterilizer can enhance throughput and lower sterilization cost. The STERIZONE® VP4 Sterilizer was cleared for commercialization in the United States in December 2014.
More information about the STERIZONE® VP4 Sterilizer is available through TSO3's website, under the Products section: http://www.tso3.com/en/products/sterizone-vp4/
Founded in 1998, TSO3's activities encompass the sale, production, maintenance, research, development and licensing of sterilization processes, related consumable supplies and accessories for heat-sensitive medical devices. The Company designs products for sterile processing areas in the hospital environment that offer an advantageous replacement solution to other low temperature sterilization processes currently used in hospitals. It also offers services related to the maintenance of sterilization equipment and compatibility testing of medical devices with such processes.
For more information about TSO3, visit the Company's Web site at www.tso3.com.
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.
SOURCE TSO3 Inc.