CHARLESTON, S.C., Sep 17, 2010– Revolutions Medical Corporation (“Revolutions Medical” or the “Company”) today announced that the Company has finalized a manufacturing agreement (the “Manufacturing Agreement”) with Medical Investment Group (“MIG”). Pursuant to the Manufacturing Agreement, MIG has guaranteed the production and delivery of a minimum of five million 3cc safety syringes per month for a period of five years.
“By securing this first manufacturing relationship and having the ability to produce and ship a minimum of five million safety syringes per month beginning in the first quarter of 2011, we now are in a position to sign initial distributors and begin to gauge preliminary sale volumes, says Ron Wheet, Chief Executive Officer of the Company. The facility has the ability to increase production up to 50 million 3cc syringes per month. When we initiate the manufacturing process on our 1cc, 5cc, and 10cc RevVac safety syringes, we will plan to produce those in South Carolina.”
MIG’s manufacturing facility is a 250,000 square foot factory located on 35 acres in Jiangsu, China. The factory is fully compliant with all FDA and CE/EC requirements and has extensive experience producing and shipping similar medical products for worldwide delivery. This factory has won numerous awards and with 20 sets of injection molding machines, and with several units of ethylene oxide sterilizer and testing equipment for optimal quality compliance, it is capable of handling Revolutions Medical’s needs today and tomorrow. In 2007, the factory implemented the ISO13485 standard and has passed each annual review since, in addition to passing a recent onsite FDA audit.
Tom O’Brien, President of the Company, also stated, “Initially we planned to begin manufacturing in Brazil and although we are moving forward with MIG, we still view Brazil as a great potential distribution opportunity and potential future manufacturing location. I have also had the opportunity to see other FDA approved medical products that MIG’s contracted facility has mass produced, and feel very comfortable we have selected a first class manufacturing facility that will guarantee the quality of our safety syringes, as well as providing us with the flexibility to rapidly expand production.”
Ron Wheet further stated, “Our September 2009 guidance for shipping syringes in the third quarter of this year was contingent on obtaining financing earlier in the 2010 fiscal year. Our recent access to capital and the manufacturing agreement with MIG will now allow Revolutions Medical to initiate these shipments during the first quarter of 2011. We will also further update our guidance to shareholders for future periods at such time.”
About Revolutions Medical Corporation
Revolutions Medical is a safety medical device and software application company. Its products include the RevVac safety syringe (FDA approved), safety blood drawing device and safety IV catheter. The Company also provides RevColor, RevDisplay and Rev3D — software solutions and proprietary tools that are compatible with standard MRIs and standard PACS. The software suite’s functionality includes sorting of images, color, 3D and automatic segmentation of images.
For additional information, please visit Revolutions Medical corporate website: http://www.revolutionsmedical.com
Investor Resource Center:
CEO Ron Wheet Audio Interview: http://ir.stockpr.com/revolutionsmedical/media-center/view/43/wallstreet-reporter-interview-with-ron-wheet-ceoRevVac_Safety_Syringe_Demonstration_Video:
RevVac Safety Syringe Demonstration Video: http://www.revolutionsmedical.com/videos/revac_directions_final.wmv
RevColor MRI Video: http://www.revolutionsmedical.com/RevMed-ColorMRI-Video.php
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The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.