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Terms of the Distribution Agreement provide for SHP to manufacture and Alliance to market and sell the new SHP lancet on a national basis. This Distribution Agreement provides for significant minimums during the initial three years of the Agreement.
Alliance will market and sell the SHP lancet into the hospital market as well as the alternate site markets, which include home healthcare, same day surgery facilities, physician offices, plasma collection facilities, blood banks and independent laboratories.
Alliance Medical is the only national organization that outsources sales, support, service and education for leading-edge manufacturers with innovative, cost-containing technologies. Alliance offers twelve regional warehouses and centralized order processing to national healthcare providers while maintaining a local distributor identity.
In addition, Alliance creates access for new technology manufacturers to a local sales and in-service support team of over 100 Field Specialists. These Specialists provide the key marketing components of any new product concept introduction: local product education, service and in-service training by professional sales representatives.
David A. Robinson, president and CEO of SHPI said, "This Distribution Agreement will allow us to grow our lancet sales as our automation line begins operation this month. We believe our patent protected lancet technology is revolutionary in terms of design, safety and manufacturing cost advantages.
"We also believe we have selected the right marketing partner to sell this safety product, as end-users want a personalized, service oriented approach from a distributor."
Gene K. Meyer, president of Alliance Medical added, "We are very excited about Specialized Health Products' selection of our national organization as their distribution partner to launch their new ExtreSafe(R) lancet product throughout the United States. We believe this lancet technology has revolutionized the lancet as a product. The SHP lancet is exceptionally safe, patient friendly and cost-effective. We believe that end-users, from clinicians to patients, will embrace this new technology as a quantum leap forward in safety convenience and design."
The ExtreSafe(R) technology is applicable to a variety of safety products, including lancets, phlebotomy devices, catheters, syringes and butterflies. Additional safety products will augment the SHP product line in the future.
SHP now owns six Safety Cradle(R) sharps container related patents, two patents associated with its ExtreSafe(R) Lancets and seven patents which protect its ExtreSafe(R) needle withdrawal technology. SHP has additional patents pending.
About Specialized Health Products
A wholly-owned subsidiary of SHPI, Specialized Health Products is a designer and developer of cost-effective, innovative safety healthcare products that minimize the risk of accidental needlesticks that are a leading cause of the spread of blood-borne diseases such as HIV/AIDS and hepatitis B.
Forward looking statements in this release involve a number of risks and uncertainties including, but not limited to, product demand, market acceptance, changing economic conditions, risks in product and technology development, the effect of the company's accounting policies and other risk factors detailed in the company's SEC filings.
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CONTACT: Specialized Health Products International Inc. Bradley C. Robinson, 801/298-3360 or Lippert/Heilshorn & Associates Lillian Armstrong/Adam Aron, 415/433-3777
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