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Echo Therapeutics (OTCBB: ECTE) $1.70. Today announced that Patrick T. Mooney, M.D., Chairman and Chief Executive Officer, will present at the OneMedPlace Finance Forum 2010 at 11.45 a.m. (PT) on Wednesday, January 13, 2010 at The Sir Francis Drake Hotel in San Francisco, CA.
"Building on the significant positive momentum of 2009, we believe that we have set the stage for an exciting and productive 2010, as we enter the year with most of the initial product development work behind us and two significant strategic partnerships in place," commented Patrick T. Mooney, M.D., Chairman and Chief Executive Officer of Echo Therapeutics. "We are now focused on completing milestone events, including key clinical trials, which will enable us to begin generating revenue. We anticipate near-term revenue for Echo from the royalties on Prelude disposables and lidocaine sales by Ferndale Pharma Group in the topical anesthetic market in the US and UK during 2010. Additionally, we are positioned to be 'first-to-market' with tCGM in the hospital critical care market and we estimate that the hospital market opportunity for continuous glucose monitoring is greater than $1 billion. Finally, we plan to develop our Symphony system for use in the consumer market, providing additional upside potential and partnership possibilities in this more than $10 billion market opportunity. We are excited to share our vision and discuss our future opportunities with investors at this conference."
What They Do: Echo Therapeutics is focused on medical devices and specialty pharmaceuticals. Echo is developing the Symphony tCGM System as a non-invasive, wireless, transdermal continuous glucose monitoring system for patients with diabetes and for use in hospital critical care units. Echo is also developing its needle-free Prelude SkinPrep System for transdermal drug delivery of a wide range of novel topical reformulations of widely-used, FDA-approved products.
MedLink (OTCBB: MLKNA) $0.69. Announced yesterday afternoon that the MedLink EHR has been "qualified" by the Centers for Medicare and Medicaid Services (CMS) for eligible providers to submit quality data to CMS for 2010 PQRI reporting. MedLink went through a thorough vetting process during 2009 with CMS to demonstrate MedLink TotalOffice EHR's capability to provide the required PQRI data elements for 10 PQRI and electronic prescribing measures.
Ray Vuono, President of MedLink, stated, "Quality Reporting is one of the keys for providers to access the more than $30 billion of Healthcare IT subsidies provided by the HITECH Act, of which eligible providers can receive between $48,000 and $65,000 if they use a certified EHR system in a meaningful way. With the total overall cost of ownership of the MedLink TotalOffice EHR at significantly below these amounts, providers can retain the difference between what they receive and what they actually spend, presenting MedLink users with an immediate triple digit ROI from Quality Reporting alone in addition to the many other benefits of adopting EHR technology. This announcement further solidifies MedLink's guarantee; that MedLink will comply with 'meaningful use' to ensure its physicians will qualify for the wealth of incentives available."
MedLink was only 1 of 5 vendors to qualify for the 2010 and Electronic Prescribing Incentive Programs. CMS announced on their website that "CMS is pleased to announce the EHR vendors and their programs (including specific version or release) that have been 'qualified' to submit quality data to CMS by eligible professionals for 2010 PQRI reporting... Each of these EHR vendors has gone through a thorough vetting process for the product and version listed including checking their capability to provide the required PQRI data elements for 10 PQRI measures."
What They Do: MedLink is a healthcare IT company that provides the medical community with products and services designed to help create, manage, and share medical information.
Flexpoint Sensor Systems (OTCBB: FLXY) $0.30. Today announced that they are working with a major airline manufacturer in the development of a “poppet valve” to be utilized in the hydraulic systems of aircraft. The valve will utilize the Bend Sensor in its design. The company is also working with the manufacturer of aircraft flight simulators on the incorporation of a Bend Sensor as a Passenger Presence Detection device in simulators used for pilot training.
Poppet valves are of very robust and resilient construction for use in directional control valves. They are usually very tolerant of typical contaminants (rust, scale, etc). This type of valve construction is typically characterized as being a high flow, fast acting design. The bend sensor is ideally suited for this type of application because of its ability to handle exposure to a wide variety of liquids and harsh environments. The single layer construction, overall durability, and its chemical resistant properties make the Bend Sensor a good solution for this type of application.
What They Do: Flexpoint Sensor Systems focuses on designing, engineering, and manufacturing sensor technology and equipment using its Bend Sensor technology.
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