iTech Medical Announces European Expansion Plans
HUNTINGTON BEACH, Calif., Oct 02, 2009 (BUSINESS WIRE) --
Company: Impact Medical Solutions Inc (IMSU)
iTech Medical, Inc. (OTCBB: IMSU, FWB: 0IM), an information technology company, announced today plans to expand its clinical and commercial programs for Muscle Pattern Recognition (MPR) into the European Union (EU). The Company has signed a Letter of Intent with Sportplein Eindhoven, a Dutch healthcare practice specializing in back pain, physical therapy and sports injuries, to participate in the Company's clinical and commercial programs relating to the introduction of the MPR technology in the EU. MPR is a patented clinical tool that analyzes patterns of muscle recruitment. MPR provides detailed physiological information on muscle function that can assist in the diagnosis and treatment of back and neck injuries and illness.
"I was first introduced to the MPR System several years ago, when iTech Medical was presenting the technology to a group of Dutch businessmen interested in the commercial rights to the product for Europe," said Jeroen van Duursen, DO, PT, co-owner of Sportplein Eindhoven. "I looked at the technology very closely and was eventually trained on the system. In my opinion, MPR will solve the problem of not having objective information on patients that suffer from non-specific back pain. I am looking forward to being involved in introducing MPR in Europe. I expect that MPR will change the field of diagnosing back function because it is the first tool for the medical world that gives objective diagnostic information based on valid scientific information."
It had been previously reported that expansion into Europe with MPR has been a cornerstone of the business plan for iTech Medical. The Company today reported that while it continues with its North American clinical program, it will initiate a parallel study with Sportplein to simultaneously test patients in the Netherlands for inclusion in its EU regulatory filings.
"The agreement to begin MPR testing in the Netherlands is the logical first step for iTech Medical as we prepare for the clinical and commercial launch of the technology in Europe," said Wayne D. Cockburn, President and CEO of iTech Medical. "The economic cost of back pain to society in the Netherlands is estimated to be over EUR10 billion each year, making Holland an ideal country in which to begin. We also believe Sportplein is an excellent partner for us because of Mr. van Duursen's experience in treating patients with back and neck pain and his previous work with the MPR System."
A new EU-wide study by The Work Foundation (September 2009) found that musculoskeletal disorders (MSDs) such as back and neck pain and repetitive strain injury (RSI)-type conditions, account for nearly half (49%) of all absences from work and 60% of permanent work incapacity in the EU. According to the study, the estimated cost to society in Europe is up to EUR240 billion every year, with 100 million European citizens suffering from serious MSDs. It was reported that half of the European population will suffer back pain at some time in their lives and in excess of a third of the European workforce suffers from low back pain. The study also reported that some 80 per cent of health care costs are generated by the 10 per cent of those with chronic back pain and disability.
About Sportplein
Sportplein Eindhoven is a large multidisciplinary physical therapy and sports medicine practice with four clinics in the Eindhoven region in the Netherlands. In addition to treating elite athletes from sports ranging from swimming to the Pentathlon, Sportplein has signed contracts with two large rehabilitation hospitals in the Netherlands to work together to treat patients with back pain and sports related injuries. Sportplein has also been contracted by a large Dutch organization to treat back pain and sports related injuries for their 10,000 member organization. Mr. van Duursen has been a practicing Osteopath and Physical Therapist for over 15 years, a board member at Eindhoven Athletics (PSV athletics), and recently a board member of the Dutch Osteopathic Association.
About iTech Medical
iTech Medical, Inc. (OTCBB: IMSU, FWB: 0IM) is engaged in the research and commercial development of healthcare information systems and technologies. To date, the Company has focused on developing a proprietary platform called Muscle Pattern Recognition (MPR), a unique clinical tool for the analysis of muscle function. MPR is a patented clinical tool that analyzes patterns of muscle recruitment. It provides detailed physiological information on muscle function that can assist in the diagnosis and treatment of back and neck injuries and illness.
A video on MPR can be seen at http://www.itechmedical.com/Videos/itechtvAG.html.
For the latest information on iTech Medical, please visit our website at www.iTechMedical.com.
Forward-Looking and Cautionary Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that reflect management's current views and estimates regarding future market conditions, company performance and financial results, business prospects, new strategies, the competitive environment and other events. You can identify these statements by the fact that they use words such as "anticipate," "believe," "estimate," "expect," "intend," "project," "plan," "outlook," and other words and terms of similar meaning.
These statements involve a number of risks and uncertainties that could cause actual results to materially differ from the potential results discussed in the forward-looking statements. Among the factors that could cause actual results and outcomes to differ materially from those contained in such forward-looking statements are the following: general economic conditions, acquisitions and development of new businesses, divestitures, product availability, sales volumes, pricing actions and promotional activities of our competitors, profit margins, weather, changes in law or regulations, foreign currency fluctuation, availability of suitable real estate locations, our ability to react to a disaster recovery situation, and the impact of labor markets and new product introductions on our overall profitability.
A further list and description of these risks, uncertainties and other matters can be found in the company's annual report and other reports filed from time to time with the Securities and Exchange Commission, including, but not limited to, iTech Medical's Annual Report on Form 10-K filed with the SEC on April 15, 2009. iTech Medical cautions that the foregoing list of important factors is not complete and assumes no obligation to update any forward-looking statements that it may make.
Keywords: healthcare, biomedical, wellness, back pain, neck pain, neurology, medical device, clinical studies, European Union, Sportplein Eindhoven.
SOURCE: iTech Medical
DM Productions LLC Dianemarie Collins, 775-825-1727 Publicist dm@dmproductionsllc.com or iTech Medical, Inc. Wayne Cockburn, CEO Huntington Beach, CA Office: 714-841-2670 Montreal Office: 905-505-0770 Wayne.Cockburn@iTechMedical.com
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Company: Impact Medical Solutions Inc (IMSU)
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