News Column

VeriTeQ Receives Order for More Than 10,000 Q Inside Safety Technology Microtransponders

June 9, 2014

VeriTeQ and its breast implant customer, Establishment Labs, are seeing broad adoption across Europe following recalls of other breast implants

DELRAY BEACH, Fla.--(BUSINESS WIRE)-- VeriTeQ Corporation (“VeriTeQ”) (OTC Markets: VTEQ), a provider of implantable medical device identification and radiation dose measurement technologies, announced today that it received an order for 10,200 Q Inside Safety Technology™ radio frequency identification microtransponders from breast implant customer Establishment Labs, S.A. (“EL”). EL will use Q Inside Safety Technology microtransponders for the continued commercialization of its Motiva Implant Matrix® breast implants throughout Europe.

EL’s Motiva Implant Matrix® breast implant product line with VeriTeQ’s Q Inside Safety Technology enables a patient’s breast implant to be identified externally in a physician’s office. VeriTeQ’s FDA cleared Q Inside Safety Technology acts as an electronic serial number in breast implants and other implantable and reusable medical devices to provide manufacturers, physicians and patients access to a secure online database to retrieve implant-specific data such as serial number, manufacturer name, date of manufacture, lot number, volume, size, and other data from the medical device manufacturer.

Scott R. Silverman, Chairman and CEO of VeriTeQ, stated, “It has only been a few months since the initial launch of EL’s Motiva Implant Matrix® breast implants with our Q Inside Safety Technology in Europe, and we are receiving positive feedback from both physicians and patients alike. We are very pleased that EL has placed an order for additional microtransponders, which, we believe signals their faith in the continued adoption of our companies’ technologies.”

About VeriTeQ

VeriTeQ develops innovative, proprietary RFID technologies for implantable medical device identification, and dosimeter technologies for use in radiation therapy treatment. VeriTeQ offers the world's first FDA cleared RFID microchip technology that can be used to identify implantable medical devices, in vivo, on demand, at the point of care. VeriTeQ's dosimeters provide patient safety mechanisms while measuring and recording the dose of radiation delivered to a patient in real time. For more information on VeriTeQ, please visit www.veriteqcorp.com.

About EL

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 (www.motivaimplants.com) and body shaping implants. Utilizing only the highest quality of medical grade silicones, the CE-marked Motiva Implant Matrix® line is rigorously scrutinized by professional Quality Engineers throughout the entire manufacturing process. All its products are produced in full compliance with ISO and EU requirements, and are certified under the Medical Device Directive 93/42/EEC. For more information on EL, please visit www.establishmentlabs.com.

Statements in this press release about our future expectations, including, without limitation, the likelihood that EL will use Q Inside Safety Technology microtransponders for the continued commercialization of its Motiva Implant Matrix® breast implants throughout Europe; the likelihood that EL’s order for additional microtransponders signals their faith in the continued adoption of our companies’ technologies constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. These risks and uncertainties include, without limitation, VeriTeQ’s ability to raise capital, as well as other risks. Additional information about these and other factors may be described in VeriTeQ’s Form 10-K, filed on April 15, 2014, and Forms 10-Q, filed on August 9, 2013 and November 14, 2013, and future filings with the Securities and Exchange Commission The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.




VeriTeQ

Allison Tomek, 561-846-7003

atomek@veriteqcorp.com

or

RedChip Companies

Brendan Hopkins, 1-800-RED-CHIP (733-2447) Ext 134

Brendan@redchip.com

Source: VeriTeQ Corporation


For more stories covering the world of technology, please see HispanicBusiness' Tech Channel



Source: Business Wire


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters