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Measurement Specialties Announces FDA Approval of Flexistat(TM)
Oximetry Sensors
FAIRFIELD, N.J., Sept. 22 /PRNewswire-FirstCall/ -- Measurement Specialties
(AMEX:MSS) is pleased to announce that the Food and Drug Administration (FDA)
has granted Elekon Industries, a division of MSS, pre-market clearance to start
marketing and selling Flexistat(TM) technology-based multi-platform pulse
oximetry sensors in the United States.
These products are disposable blood oxygen sensors used for non-invasive
patient monitoring. The market for pulse oximetry sensors -- used in
applications such as anesthesia, recovery, intensive care and patient transport
-- is growing as these sensors reduce risks associated with more invasive
techniques. The FDA-cleared products are based on Elekon's patent-pending
Flexistat(TM) technology, which greatly enhances durability and accuracy while
reducing manufacturing costs.
Elekon's customers for these products are large, multinational OEMs in the
medical device industry. To date, Elekon has received initial commitments
totaling more than $2 million for Flexistat(TM) products from launch customers.
Elekon will start shipping product immediately, enabling their OEM customers
to start end-user deliveries as early as next month.
"Obtaining FDA approval for our new line of OEM sensors is a significant
milestone for Elekon," noted Thomas Dietiker, product line manager of optical
products for the Elekon division. "Our position as market leader and innovator
in medical sensing will be further solidified with these products."
Elekon Industries, acquired by MSS in June of this year, provides custom and
standard optoelectronic sensing solutions for customers in the medical
electronics, computer peripherals and industrial sectors worldwide.
"We are very excited about the quick approval of this new product line and the
new market opportunities for these sensors in the patient monitoring field,"
stated Frank Guidone, CEO of MSS. "These patent-pending products are a key
element of the growth strategy for our Elekon division and have received
extremely favorable responses from key customers."
Measurement Specialties, Inc. designs and manufactures sensors and sensor-based
consumer products. The Sensor division, also known as MSI Sensors, produces a
wide variety of sensors and transducers to measure precise ranges of physical
characteristics such as pressure, motion, force, displacement, tilt, flow and
distance. MSI Sensors uses multiple advanced technologies -- including
piezoresistive, electro-optic, electro-magnetic, capacitive, application
specific integrated circuits (ASICs), micro-electromechanical systems (MEMS),
piezoelectric polymers and strain gauges -- to engineer sensors that operate
precisely and cost effectively. The Consumer division produces OEM bathroom
scales, Accutire(R) brand tire pressure gauges and other products.
This release includes forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities and Exchange Act of 1934, as amended, including but not limited to,
statements regarding non-recurring expenses, and resolution of pending
litigation. Forward looking statements may be identified by such words or
phases "should", "intends", "expects", "will", "continue", "anticipate",
"estimated", "projected", "may", "we believe", "future prospects", or similar
expressions. The forward-looking statements above involve a number of risks
and uncertainties. Factors that might cause actual results to differ include,
but are not limited to, success of any reorganization; ability to raise
additional funds; conditions in the general economy and in the markets served
by the Company; competitive factors, such as price pressures and the potential
emergence of rival technologies; interruptions of suppliers' operations
affecting availability of component materials at reasonable prices; timely
development and market acceptance, and warranty performance of new products;
success in integrating acquired businesses; changes in product mix, costs and
yields, fluctuations in foreign currency exchange rates; uncertainties related
to doing business in Hong Kong and China; and the risk factors listed from time
to time in the Company's SEC reports. The Company from time-to-time considers
acquiring or disposing of business or product lines. Forward-looking statements
do not include the impact of acquisitions or dispositions of assets, which
could affect results in the near term. Actual results may differ materially.
The Company assumes no obligation to update the information in this issue.
Company Contact: Frank Guidone, CEO, 973 808-3020
Investor Contact: Aimee Boutcher or Daniel Boutcher, 972 239-2878
DATASOURCE: Measurement Specialties, Inc.
CONTACT: Company: Frank Guidone, CEO of Measurement Specialties,
+1-973-808-3020, or Investor: Aimee Boutcher, or Daniel Boutcher, both for
Measurement Specialties, +1-972-239-2878
Web site: http://www.msiusa.com/