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VeriTeQ Rolls Out Q Inside Safety Technology in EU and UK

February 15, 2014

VeriTeQ Corp., a provider of implantable medical device identification and radiation dose measurement technologies, announced the launch of its Q Inside Safety Technology in the European Union and United Kingdom, where women have already received breast implants from VeriTeQ's partner, Establishment Labs, S.A. ("EL"), which offers its Motiva Implant Matrix Ergonomix with VeriTeQ's Q Inside Safety Technology.

In a release, the Company noted:

VeriTeQ'sFDA cleared Q Inside Safety Technology acts as an electronic serial number in breast implants and other implantable and reusable medical devices that may give physicians and patients access to secure online databases to retrieve device-specific data such as serial number, manufacturer name, date of manufacture, lot number, volume, size, and other data from the medical device manufacturer. Q Inside Safety Technology also provides an extra level of protection to the patient in the event of a recall or other safety event.

EL's Motiva Implant Matrix Ergonomix with VeriTeQ's Q Inside Safety Technology has received CE Mark approval, which enables EL to market its Motiva breast implants to patients in 28 countries in the European Union and fast track regulatory approvals in many countries in South America, Middle East and Asia. EL is planning a broad commercial launch of its Motiva breast implants in the EU and UK in early 2014.

In the wake of the Poly Implant Prothese ("PIP") scare in the EU, in which tens of thousands of women received defective breast implants, manufacturers and the healthcare community are focused on providing traceability of medical devices. EL's Motiva Implant Matrix Ergonomix with Q Inside Safety Technology enables healthcare providers to accurately and quickly identify breast implants, in vivo, thereby helping to ensure the health, safety and wellness of patients.

"We are very pleased with the early acceptance of Motiva Implant Matrix's breast implants with Q Inside Safety Technology in the EU and UK," said Scott R. Silverman, Chairman and CEO of VeriTeQ. "We believe as EL expands its commercial launch, awareness of our technology will increase, and EL and VeriTeQ will gain market share. The PIP scandal dealt a large blow to the breast augmentation industry overseas, and we are working diligently to ensure something like this never happens again."

According to Millennium Research Group, a provider of medical technology market intelligence, the United States and European markets for breast implant devices will reach a total value of $1.1 billion by 2016.

Establishment Labs is a privately held, global breast, body and facial aesthetic company with offices in Florida, Costa Rica and Belgium, that designs, develops, manufactures and markets an innovative product portfolio consisting of advanced silicone-filled breast (motivaimplants.com) and body shaping implants.

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