SOURCE: Micro Imaging Technology, Inc.

March 10, 2008 08:00 ET

MIT Makes the Finals for Adaptive Business Leader's 2008 Innovations in Healthcare Awards Event

SAN CLEMENTE, CA--(Marketwire - March 10, 2008) - Micro Imaging Technology, Inc. (OTCBB: MMTC) announces that its product, the MIT 1000 Rapid Microbial Identification System, has made the Finals for Adaptive Business Leader's (ABL) 2008 Annual Innovations in Healthcare Awards. MIT reported in January that it reached the semi-finals. The winner will be chosen at ABL's annual conference in April 2008 where the Company will exhibit the MIT 1000 and discuss the System's capabilities and value to society to ABL's selection committee and other competing companies. The MIT 1000's ability to identify a variety of bacterial species in minutes after culturing, for a test cost of less than 10 cents, has been the key to MIT's success in this competition.

For the past nine years, ABL has reviewed new product innovations from several hundred companies and recognizes those innovative providers and producers of medical devices that offer society the greatest value by decreasing healthcare-related costs and increasing quality.

"We are pleased to have reached the Finals for this prestigious award and to have the opportunity to present and discuss the value of the MIT 1000 System at the upcoming ABL annual conference," stated Michael Brennan, MIT's Chairman.

About Adaptive Business Leaders Organization

Celebrating its 25th anniversary year, ABL's Organization's mission is to help health and technology leaders grow great companies. ABL does this through its eight monthly, industry-specific Round Tables held throughout California, and frequent Conferences, Workshops and Events. In their confidential Round Tables, ABL Members -- who are CEOs, Presidents, COOs and Division General Managers of Health and Technology companies -- openly seek from and share with each other candid advice, best practices and innovative approaches for capitalizing on market trends and opportunities to assure they are well positioned for business and personal success.

About Micro Imaging Technology

The Company has developed and patented a technology for rapid microbe detection and identification. This System measures scattered light intensity as individual microbes pass through a laser beam. The intensity pattern of the scattered light is a direct consequence of the size, shape and external and internal optical characteristics of the microbe. The MIT System is non-biological and does not rely on biological agents, conventional chemical processing, fluorescent tags, gas chromatography or DNA analysis.

MIT has demonstrated the ability to detect and identify, within several minutes, the microbes Escherichia coli, Listeria, Salmonella, Staphylococcus aureus, Shigella and other pathogenic bacteria. The identification process has been verified by North American Science Associates, Inc. (NAMSA), an independent, internationally recognized biological testing laboratory. The NAMSA Test Report, in the Company's opinion, demonstrated the accuracy, speed and efficiency of the MIT System over conventional processes and is available from the Company. The MIT 1000 System was recently featured in a Rapid Microbiology international newsletter and can be viewed at http://www.rapidmicrobiology.com/news/1231h0.php?s=MIT.

This release contains statements that are forward-looking in nature. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions are forward-looking statements. These statements are made based upon information available to the Company as of the date of this release, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include, but are not limited to dependence on suppliers; short product life cycles and reductions in unit selling prices; delays in development or shipment of new products; lack of market acceptance of our new products or services; inability to continue to develop competitive new products and services on a timely basis; introduction of new products or services by major competitors; our ability to attract and retain qualified employees; inability to expand our operations to support increased growth; and declining economic conditions, including a recession. These and other factors and risks associated with our business are discussed from time to time within our filings with the Securities and Exchange Commission.

Contact Information

  • CONTACT:
    Michael Brennan
    Chairman
    Email: Email Contact
    Telephone: (805) 557-0614