Submitted by: Univec, Inc.
Posted: Mar 10, 2002 – 11:00 PM EST
Farmingdale-based Univec, Inc. (OTCBB: UNVC - news) a leading supplier of patented auto-disable and safety syringes and drug sampling programs for pharmaceutical companies, today announced the acquisition of Thermal Waste Technologies, Inc. (TWT) of Danbury, CT.
TWT's founder, Jon Bricken, has assumed the position of Vice President of Univec, and will be responsible for sales of the Demolizer in U.S. and foreign markets.
The Demolizer, about the size of a small microwave oven, automatically converts red bag and sharps waste inside a sealed container into sterilized waste that can be discarded as ordinary solid waste. All waste is placed in a disposable one-gallon container that sits inside the unit, which contains the sterilizer and the anti-viral, anti-bacterial and ant-odor filtration system.
The unit meets OSHA regulations and has passed efficacy testing performed by Stanford University, Leberco Testing Inc., and Valley Medical Laboratories under a protocol approved by the New York State Department of Health. The unit has also passed the "Microbial Survivability Test for Medical Waste Incinerator Emissions." The Demolizer is approved by state boards of health and departments of environment in 43 states, and is pending approval in two states.
TWT has developed and obtained regulatory approvals for the Demolizer during the past several years while establishing an outsourced manufacturing capability that ensures production volume on any scale. Currently the company has placed approximately 100 units in clinics and physicians' offices. Experience indicates the Demolizer achieves a six-month ROI when compared to the cost of carting red bad and sharps waste off premises. In addition, by rendering medical waste that can be discarded as ordinary solid waste, the Demolizer reduces liability exposure and potentially the insurance premiums of medical offices.
Founded in 1992, Univec is considered one of the leading innovators in the design and production of safe medical products. The Company has production facilities in Portugal, South Korea, China, India, Belgium and the U.S., and has licensed its syringe technology to Terumo Europe N.V., a wholly owned subsidiary of Terumo Japan, the leading producer of syringes outside the U.S. Univec distributes its products in 80 countries.
Univec will distribute the Demolizer through relationships with strategic partners, Pharmacy Services, Inc., and Health Resources, Inc., as well as other healthcare product distributors and purchasing groups.
According to Dr. David L. Dalton, President and CEO, Univec plans to complete other acquisitions as part of its growth strategy.
Forward Looking Statements
This document may contain forward-looking statements based on current expectations that could be affected by the risks and uncertainties involved in Univec's business, which include, but are not limited to the risks described from time to time in Univec's reports to the Securities and Exchange Commission. Subsequent written or oral statements attributable to Univec or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements in this document and those in Univec's reports filed with the Securities and Exchange Commission.
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