HENDERSON, NV -- (Marketwired) -- 12/11/14 -- United Health Products, Inc. (OTCQB: UEEC) today released a corporate summary pertaining to recent Company events.
- Distribution of the Company's Products
Last week United Health Products attended a series of corporate meetings with AMD-Ritmed and Medicom in Montreal, Canada. AMD-Ritmed and Medicom are the exclusive distributors of the HemoStyp® product line in the US and Canada. Scott Wolford, Vice President of AMD-Ritmed, was excited to announce the addition of sales and marketing resources to promote the HemoStyp® product lines.
Critical Health and its distribution partner in Australia, Western Surgical, announced that they have entered into a contract with a sub-distributor for dental and veterinary markets in Australia, New Zealand and Tasmania. The sub- distributor currently has access to over 15,000 dentists, of which 80% are in the private sector. The Company expects to receive initial stocking orders shortly.
Additionally, the Company is expanding its distribution into India and Mexico through exclusive agreements with distributors in these countries. Both agreements include yearly purchase requirements.
- New Product Line
The Company will introduce its HemoStrip adhesive bandage to the retail markets in the second quarter of 2015. HemoStrip, the ultimate bandage, contains the Company's proprietary HemoStyp® gauze on an adhesive strip, which has been designed to achieve rapid hemostasis in a cut or abrasion. Initial interest in HemoStrip has been positive during discussions with major retailers.
- Swine Test
Preliminary positive results from the swine testing performed at Spring Valley Laboratories, a GLP compliant CRO laboratory, have been received. The tests were performed on pigs where the femoral arteries were exposed. A 5 millimeter puncture wound was created under extreme pressure and preliminary results show complete hemostasis was achieved with the HemoStyp® gauze in substantially less time than competitive products. The final results will be published in the near future.
- Corporate News
On October 2nd, 2014, the Company received formal notice that the settlement of the civil case pending in the State of Nevada had been recorded. The settlement includes the retirement of debt in the form of notes in excess of $500,000 and the return of approximately 1,000,000 shares of the common stock of the Company.
About United Health Products Inc.
United Health Products Inc. (UEEC) develops, manufactures, and markets patented hemostatic gauze, for the healthcare and wound care sectors. The product, HemoStyp®, is derived from regenerated oxidized cellulose, which is all natural, and designed to absorb exudate/drainage from superficial wounds and helps control bleeding. UEEC is focused on identifying new markets and applications for its product as well as ramping up sales in its current markets. For more on United Health Products Inc. visit: www.unitedhealthproductsinc.com
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements.