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SOURCE TriStar Wellness Solutions, Inc.
Implementation of a strategic plan to create a prominent medical device technology company
WESTPORT, Conn., Sept. 3, 2014 /PRNewswire/ -- HemCon Medical Technologies, Inc. ("HemCon"), a wholly owned subsidiary of TriStar Wellness Solutions(R), Inc. (OTCQB: TWSI) and a leading developer and marketer of advanced medical products, announced today that they will be exclusively focusing company resources on marketing and sales, new product development and technological innovations, best of class regulatory and quality systems and upgrading all internal information systems immediately.
HemCon will be moving from its manufacturing and office headquarters where it has operated since 2003. The company is relocating to a human centered work environment designed to foster greater connectivity between all employees, customers and stakeholders. The new facility, located in downtown Portland, Oregon, will be fully equipped with an innovation center laboratory and will provide increased customer integration into new product development. The company has arranged for all manufacturing to be outsourced to certified leading medical contractors in the United States, and HemCon will remain the specification developer for its life-saving hemostatic products. HemCon will maintain its existing distribution network and will continue servicing customers worldwide. The medical products made by HemCon will continue to comply with all regulatory and quality standards for both international and domestic markets.
HemCon offers a comprehensive line of hemostatic products with a proven track record that quickly control all levels of bleeding. HemCon's proprietary technologies provide cost-effective hemostatic solutions to treat low to heavy arterial bleeding, while also providing antibacterial properties. HemCon's ability to stop bleeding at all levels of the continuum of care allows hospitals to add efficiencies to their normal practices as well as greatly reducing everyday expenses, while improving patient outcomes.
"This significant operational transformation and realignment of our strategic priorities support our defined mission to build a leading global wound care company that leverages our rich history, while allowing us to expand beyond our current products and markets." said HemCon President and CEO, Michael Wax, "We are moving ahead towards establishing a more efficient organization capable of driving customer focused innovation."
About HemCon Medical Technologies
HemCon Medical Technologies Inc., founded in 2001, develops, manufactures, and markets innovative technologies for hemostatic devices for the control of bleeding resulting from trauma or surgery. HemCon products are designed for use by medical professionals in hospital and clinical settings, military and civilian first responders, as well as where control of bleeding are of critical importance. New product development is directed at novel wound care treatment solutions as well as enhancing hemostasis. HemCon is headquartered in Portland, Ore. For more information, please visit www.hemcon.com.
About TriStar Wellness Solutions
TriStar Wellness Solutions®, Inc. (TWSI) is a health and wellness company that targets under-met consumer opportunities in the OTC and professional marketplace. Its core strategy plans to meet the growing demand for personalized, care solutions by leveraging proprietary innovation and healthcare technology with the rapid transformation of the healthcare marketplace to create innovative, science based solutions and brands. TriStar recently acquired HemCon Medical Technologies Inc., a developer, manufacturer, and marketer of innovative technologies for hemostatic devices for the control of bleeding resulting from trauma or surgery. It also owns the Beauté de MamanTM brand of women's health products. Additional information is available at www.tstarwellness.com.
This press release for TriStar Wellness Solutions®, Inc. contains forward-looking statements. Generally, you can identify these statements because they use words like "anticipates," "believes," "expects," "future," "intends," "plans," and similar terms. These statements reflect only our current expectations. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy and actual results may differ materially from those we anticipated due to a number of uncertainties, many of which are unforeseen, including, among others, the risks we face as described our filings with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements which apply only as of the date of this press release. To the extent that such statements are not recitations of historical fact, such statements constitute forward-looking statements that, by definition, involve risks and uncertainties. In any forward-looking statement where we express an expectation or belief as to future results or events, such expectation or belief is expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the statement of expectation of belief will be accomplished.
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