9/27/2004 - Measurement Specialties (AMEX: MSS) is pleased to announce that the Food and Drug Administration (FDA) has granted Elekon Industries, a division of MSS, pre-market clearance to start marketing and selling FlexistatTM technology-based multi-platform pulse oximetry sensors in the United States.
These products are disposable blood oxygen sensors used for non-invasive patient monitoring. The market for pulse oximetry sensors – used in applications such as anesthesia, recovery, intensive care and patient transport – is growing as these sensors reduce risks associated with more invasive techniques. The FDA-cleared products are based on Elekon's patent-pending FlexistatTM technology, which greatly enhances durability and accuracy while reducing manufacturing costs.
Elekon’s customers for these products are large, multinational OEMs in the medical device industry. To date, Elekon has received initial commitments totaling more than $2 million for FlexistatTM products from launch customers. Elekon will start shipping product immediately, enabling their OEM customers to start end-user deliveries as early as next month.
"Obtaining FDA approval for our new line of OEM sensors is a significant milestone for Elekon," noted Thomas Dietiker, product line manager of optical products for the Elekon division. "Our position as market leader and innovator in medical sensing will be further solidified with these products.”
Elekon Industries, acquired by MSS in June of this year, provides custom and standard optoelectronic sensing solutions for customers in the medical electronics, computer peripherals and industrial sectors worldwide.
“We are very excited about the quick approval of this new product line and the new market opportunities for these sensors in the patient monitoring field,” stated Frank Guidone, CEO of MSS. “These patent-pending products are a key element of the growth strategy for our Elekon division and have received extremely favorable responses from key customers.”
Measurement Specialties, Inc. designs and manufactures sensors and sensor-based consumer products. The Sensor division, also known as MSI Sensors, produces a wide variety of sensors and transducers to measure precise ranges of physical characteristics such as pressure, motion, force, displacement, tilt, flow and distance. MSI Sensors uses multiple advanced technologies – including piezoresistive, electro-optic, electro-magnetic, capacitive, application specific integrated circuits (ASICs), micro-electromechanical systems (MEMS), piezoelectric polymers and strain gauges – to engineer sensors that operate precisely and cost effectively. The Consumer division produces OEM bathroom scales, Accutire® brand tire pressure gauges and other products.
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