WESTON, Fla., March 17 American Scientific Resources, Inc. (the "Company") (Pink Sheets: ASFX), confirms today that it has received formal confirmation and payment advice for the additional purchase of its Disintegrator Needle Destruction Device from Bayer-Schering Pharmaceuticals.
The order requires the production and delivery of additional units following the successful fulfillment and deployment of this shipment purchased by Bayer Healthcare. American Scientific has already begun manufacture of these and additional units to satisfy follow-up orders.
Bayer Healthcare is one of the worlds leading pharmaceutical companies and utilizes the Disintegrator by providing it to patients who administer by injection its Betaferon medication.
Disintegrator units are manufactured with Bayer Healthcare specific colors and logos, and are currently in daily use in France.
Jason Roth, the Company's Senior Vice President, commented, "We are pleased that we are continuing with the Bayer Healthcare contract and look forward to the additional stages of the contract. Bayer Healthcare represents a world class partner for American Scientific and we look forward to our continued relationship with them and with other customers and users worldwide."
Dr. Chris Tirotta, CEO of American Scientific, commented, "Again we have achieved another significant milestone in our business plan - a business plan that we continue to implement. We look forward to not only follow on commitments from this contract but also fulfilling the other opportunities we have out there."
In addition to the Bayer Healthcare Disintegrator and the Disintegrator Plus, the Company is in late stage development of a Non Government Organization (NGO) version designed to be taken up globally by aid providers operating in areas where injections and immunizations are key in the fight against disease. The Disintegrator NGO provides foundations and aid organizations a cost effective way of destroying harmful needles at the point of use in developing countries worldwide. The Company is working on this project with its partners in manufacturing and front line aid providers.
According to the World Health Organization (WHO), it is estimated that globally 16 Billion injections are administered annually in developing and transitional countries alone. They also indicate that each year unsafe injections cause an estimated 1.3 million early deaths, a loss of 26 million years of life, and an annual burden of USD535 million in direct medical costs.
About American Scientific Resources, Inc.
American Scientific Resources, Inc. is both an operating company and the holding company for wholly owned subsidiary, Kidz-Med. The Company sources and designs innovative health and safety products, develops intellectual property and distributes through established relationships and channels both in-house and through its ever growing network of proven global healthcare distributors.
For more information, visit the corporate web site at www.americansci.com and the Company's subsidiary Kidz-Med at www.kidzmed.com.
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.
Contact American Scientific Resources Investor Relations E-mail IR@americansci.com Or call 561-948-4863
SOURCE American Scientific Resources, Inc.