Patient Safety Technologies Inc. (OTC: PSTX.OB) announced that Covenant Health, a West Texas Hospital in the St. Joseph Network, signed a three year contract to use SurgiCount Medical’s computer assisted counting system throughout two facilities. Surgicount is a subsidiary of Patient Safety and is based in Temecula.
SurgiCount’s Safety-Sponge System is being evaluated by approximately 10 medical institutions, according to the company. The potential impact to the company’s annual gross revenues from sales of the Safety-Sponge to these medical institutions, ranges from approximately $100,000 to $750,000 for each institution, the company said.
We anticipate that Covenant’s decision to fully implement the Safety-Sponge System in all 23 operating rooms at its main facility, as well as the 7 operating rooms at Covenant Medical Center-Lakeside, will generate approximately $250,000 in recurring annual revenues.
“Covenant’s decision to implement the Safety-Sponge System speaks volumes as to the readiness of the market for our computer assisted counting technology. We are thrilled to have Covenant as a customer and look forward to eventually working with the entire St. Joseph Network,” said Rick Bertran, President of SurgiCount Medical.