MISSISSAUGA, Ontario--(BUSINESS WIRE)--
Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV; OTCQX: CVALF), an advanced medical technologies company, announced today its MediClear™ PreOp has received Frost & Sullivan’s 2018 North American Surgical Site Infection Prevention New Product Innovation Award. MediClear PreOp is the market’s only antimicrobial self-adherent silicone film drape for pre-operative skin that provides continuous antimicrobial activity to reduce the risk of bacterial contamination of a patient’s skin prior to surgery.
Surgical site infection (“SSI”) is one of the most common post-operative complications and the most frequently reported healthcare-associated infection. SSI occurs in 3 to 5% of the estimated 234.2 million annual surgical procedures worldwide and is fatal in about 3% of these cases.1 The product’s polyurethane barrier film acts as a protective barrier to isolate a procedural site from external contamination. Its silicone adhesive provides a rapid bactericidal and fungicidal effect against a broad spectrum of microorganisms, averaging a 99.9% reduction in microorganisms after 10 minutes and a 99.99% reduction after 30 minutes, and preventing their regrowth for up to seven days during wear. MediClear PreOp is breathable and transparent, and is available in three sizes to protect skin for common procedures, including cardio-thoracic, orthopedic, and plastic surgeries.
According to Frost & Sullivan, “MediClear PreOp offers great potential to control a facility’s SSI rates, which would translate into significant cost savings both for the facility and the broader healthcare system in terms of reduced readmissions, shorter hospital stays, and fewer Medicare penalties.”
"The recognition by Frost & Sullivan of MediClear PreOp’s potential as a new innovation to help in the fight against surgical site infections validates the market need for a product like MediClear PreOp," said Brian Pedlar, Covalon's Chief Executive Officer. "We are confident that patients, clinicians, and healthcare systems alike can benefit by adopting MediClear PreOp into their pre-operative protocols."
“Frost & Sullivan believes that the product’s capability to maintain antimicrobial activity equal to or better than current best practices, in addition to the benefits of ease of use and a reduced clinical workload, will result in further savings in terms of improved clinician efficiency, higher staff satisfaction, and improved patient outcomes,” said Anuj Agarwal, Senior Research Analyst, Frost & Sullivan.
For the New Product Innovation Award, Frost & Sullivan analysts follow a ten-step process to research, identify, and recognize best practices. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
About Covalon
Covalon Technologies Ltd. researches, develops
and commercializes new healthcare technologies that help save lives
around the world. Covalon's patented technologies, products and services
address the advanced healthcare needs of medical device companies,
healthcare providers and individual consumers. Covalon's technologies
are used to prevent, detect and manage medical conditions in specialty
areas such as wound care, tissue repair, infection control, disease
management, medical device coatings and biocompatibility. To learn more
about Covalon, visit www.covalon.com.
About Frost & Sullivan
Frost & Sullivan, the Growth
Partnership Company, enables clients to accelerate growth and achieve
best-in-class positions in growth, innovation, and leadership. The
company’s Growth Partnership Service provides the CEO and the CEO’s
Growth Team with disciplined research and best practice models to drive
the generation, evaluation, and implementation of powerful growth
strategies. Frost & Sullivan leverages almost 50 years of experience in
partnering with Global 1000 companies, emerging businesses, and the
investment community from 31 offices on six continents. To join Frost &
Sullivan’s Growth Partnership, please visit https://www.frost.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting product approvals, acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, the regulatory environment, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the Company. Investors should consult the Company's ongoing quarterly filings for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.
1 Frost & Sullivan Report – 2018 North American Surgical Site Infection Prevention New Product Innovation Award.
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