SOURCE: Southwestern Medical Solutions, Inc.

August 01, 2006 16:00 ET

Southwestern Medical Retains the Services of New World Regulatory Solutions for CLIA / FDA Approvals

TAMPA, FL -- (MARKET WIRE) -- August 1, 2006 -- Southwestern Medical Solutions, Inc. (PINKSHEETS: SWNM) is pleased to announce that it has recently retained the professional services of New World Regulatory Solutions to handle functions of the CLIA waiver and related issues concerning the Labguard™ Systems and related products with the FDA.

New World Regulatory Solutions is an international organization that specializes in obtaining FDA clearances for both domestic and global concerns in the in vitro diagnostic industry, according to Richard Powell, Southwestern Medical Solutions VP - New Product Development. "We feel at this juncture it's to our strategic advantage to have a company like New World Regulatory Solutions on board for a number of reasons. Foremost, they will be able to intercede and expedite the Labguard™ Systems CLIA waiver on our behalf, thereby allowing management to focus upon the completion of comprehensive evaluations of recently proposed projects such as the Medical Software Inventory Management Control System and other medical devices currently under review. We are encouraged by New World Regulatory Solutions' international expertise, as we have been in preliminary discussions with a China-based medical device firm seeking a bilateral distribution agreement for both of our Company's products. New World Regulatory Solutions' decades of combined industry experience will avail SWNM of a depth of expertise and guidance on new and exciting products as they are developed and brought to the marketplace."

O-T-C Status to Broaden Market Potential

FDA O-T-C status, when granted, will allow SWNM to promote these products directly to end users, in addition to the contracts currently being developed with both national and global medical device suppliers/distributors, thus significantly broadening market penetration. By working closely with governmental agencies, SWNM has been granted the inclusion of these additional products in the study. Inclusion of these products in the Company's O-T-C status will broaden the Company's product lineup to the largest available in the diagnostic testing arena.

Southwestern Medical Solutions Has the Answer

The complete line of testing modalities will enable Southwestern Medical to further enhance its market share. SWNM's systems will offer the most complete lineup of diagnostic testing available. Continuing talks with two of the largest U.S. medical device distribution companies reveals that inclusion of additional testing modalities in O-T-C status for an enhanced product launch is viewed as an asset to the prospective sales efforts of both companies. New Product Development V.P. Mr. Richard Powell commented, "Our diligence aimed at bringing all of these diagnostic resources into the O-T-C study has been a key factor toward achieving the goal of becoming the leader in the diagnostic community." The Company's proprietary Labguard™ on-site collection & diagnostic testing technology represents a revolutionary approach that ensures greater safety and convenience for diagnostic testing administrators at an attractive, market-competitive price.

The statements made in this press release, which are not historical facts, contain forward-looking statements concerning potential developments affecting the business, prospects, financial conditions and other aspects of the Company to which this release pertains. The actual results of the specific items described in the release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the Company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The Company disclaims any obligation to update information contained in any forward-looking statement.

Contact Information

  • For Further Information:
    Investor Relations Department
    Phone: 1-866-369-9476
    Corporate Phone: 1-877-576-0936
    Southwestern Medical Solutions, Inc.