Medisys' Futura Plans Include Entry Into Growing U.S. Safety Needle Market
This article was originally published in The Gray Sheet
Executive Summary
Medisys plc's acquisition of the Futura safety syringe from Adventec would provide the firm with a means to tap into the growing demand in the U.S. for sharps with protective features designed to reduce accidental needlesticks among health care workers.
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Medisys PLC
Ipswich, U.K. maker of safety syringes raises approximately $69.9 mil. through placement of 37.6 mil. New Ordinary Shares at about $1.86 per share (based on current exchange rates). A portion of the proceeds from the offering will be used to gear up manufacturing efforts for the Futura safety syringe, for which a 510(k) is pending at FDA (1"The Gray Sheet" July 12, 1999, p. 6). The funds also will be used to develop and acquire additional safety products to complement the Futura line, and to "establish a U.S. sales and marketing infrastructure" for next generation blood glucose monitoring systems slated to debut later this year. Nomura International was underwriter for the offering, and the shares trade on the Alternative Investment Market
Medisys PLC
Ipswich, U.K. maker of safety syringes raises approximately $69.9 mil. through placement of 37.6 mil. New Ordinary Shares at about $1.86 per share (based on current exchange rates). A portion of the proceeds from the offering will be used to gear up manufacturing efforts for the Futura safety syringe, for which a 510(k) is pending at FDA (1"The Gray Sheet" July 12, 1999, p. 6). The funds also will be used to develop and acquire additional safety products to complement the Futura line, and to "establish a U.S. sales and marketing infrastructure" for next generation blood glucose monitoring systems slated to debut later this year. Nomura International was underwriter for the offering, and the shares trade on the Alternative Investment Market
Federal Safe Needle Bill Mandates Use Of Sharps With Protective Features
Legislation introduced in the House May 20 by Reps. Pete Stark (D-Calif.) and Marge Roukema (R-N.J.) would amend the Occupational Safety and Health Administration's bloodborne pathogen standard to require that employers use needleless systems and sharps with engineered safety features to reduce the risk of accidental needlesticks among health care workers.