DRAPER, UT--(Marketwired - May 2, 2013) - Flexpoint Sensor Systems, Inc. (
The universal settlement reached last week gives the company new revenue streams involving products related to pediatric and adult mattresses, athletic products, and medical and commercial beds. The first sales will likely come from the pediatric and adult mattresses, followed by the athletic shoe. The medical and commercial beds will be launched in early 2014 as the company needs to fully develop the marketing alliances.
"With the legal issues resolved, Flexpoint will aggressively move forward to launching these products. We expect to begin sales of the pediatric and adult mattress during Q3 or Q4 of 2013. The application of the Bend Sensor® in a mattress cover allows parents to monitor the position and movement of an infant and will facilitate the triggering of an alarm system if no movement is detected for a predetermined interval, or if the infant has significantly changed position. This seems to be an ideal fit since the Bend Sensor® operation requires movement to monitor and register change," said Flexpoint President Clark Mower.
Mower continued, "Flexpoint is working toward the launch of an athletic shoe incorporating the sensor technology. The sports shoes will measure distribution of weight, and weight transfer during the monitored event and will give real time information about the movement of the person, weight transfer and timing. This can be used in training and may also be used to help people who have little or no feeling in their feet with walking since it can be configured to give some other sensory feedback when the foot hits the ground. With millions of potential customers and the feedback we are already receiving from the marketplace, this product could easily achieve millions of dollars in annual sales."
"Lastly and probably most importantly, the company will launch its medical bed technologies. The patented medical bed is designed to alleviate bedsores or pressure sores, an injury to the skin and underlying tissue caused by unrelieved, sustained pressure. Persistent pressure on the skin cuts off circulation and eventually causes cell death, breakdown of the skin, and an open sore. The sores are very common and if they become infected are potentially fatal. Our comprehensive solution will ultimately consist of multiple air chambers each fully integrated with Bend Sensors®. The sensors monitor areas of greatest load and constantly communicate with the integrated computer to inflate or deflate the chambers thus minimizing and relocating the pressure to other areas. Each bed integrates approximately 30 sensors in the air chambers and has the ability to monitor, move, and adjust the patient in the bed.
As previously announced, Flexpoint has entered into a marketing agreement with Bend Tech, LLC, to market these products. Anthony "Tony" DeGreef, Managing Member of Bend Tech, stated, "The medical bed market represents a $2 billion annual market. On the beds and the other products we should be able to quickly rekindle some of the previously established relationships. Combined, these products should initially contribute approximately $3-4 million in annual revenues. They should be generating $10-$12 million in annual revenues by late 2015."
Flexpoint Sensor Systems (
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.