Life Care Medical Devices Ltd Announces CE Mark And Planned Commercialization For Laparoscopic Surgery Access Device

Keyhole Cup is the first medical device specifically designed for laparoscopic surgery access

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Apr 24, 2013, 04:28 ET

NEW YORK, April 24, 2013 /PRNewswire/ -- Life Care Medical Devices Ltd (OTCBB: LCMD) today announced the issuance in August 2012 of CE mark for its Keyhole Cup Laparoscopic Access Device. Keyhole Cup addresses a critical need in the laparoscopic surgery market (one of the largest medical procedure markets) and was developed to advance the standard of care for laparoscopic access.

The initial surgical access to the abdominal region of the body has been, to date, a fully manual procedure involving either a veress needle or a cut down procedure known as the Hassan technique. These techniques, while effective, are labor and time intensive and contain an element of risk in that the instruments used in these are introduced into the abdominal cavity without an element of visualization. This lack of visualization carries with it inherent risk of injury to organs lying beneath the abdominal wall such as the intestines. Through the application of negative pressure to the dome shaped Keyhole Cup device, the abdominal wall is separated from the underlying organs allowing for a safe and rapid entry of a veress needle for the introduction of inert gas and resulting insufflation of the abdomen followed by surgical intervention.

"While surgical equipment advances and technique improvement have been an integral part of the development of the laparoscopic surgery market, the initial first step of access to the abdominal cavity has remained static," said Glenn Foley, Chief Executive Officer of Life Care Medical Devices Ltd. "Our Keyhole Cup Laparoscopic Surgery Access Device gives the surgeon a method for rapid, consistent, and safe access to the abdominal region."

"With our recent capital raise," continued Mr. Foley, "LCMD is currently in the process of distribution partner selection and plans initial commercialization in Q3 2013."

Life Care Medical Devices Ltd is an ISO 13485 certified manufacturer of medical devices. LCMD's focus is on underserved aspects of large medical sub segments such as laparoscopic surgery and pain management. LCMD 's portfolio of proprietary and patent in process devices address clinical needs in these markets through innovative product design, development, and delivery to the medical market.

Safe Harbor  This release may contain certain forward-looking statements regarding our prospective performance and strategies 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. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of said safe harbor provisions.

Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations of our company, are generally identified by use of words "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "seek," "strive," "try," or future or conditional verbs such as "could," "may," "should," "will," "would," or similar expressions. Our ability to predict results or the actual effects of our plans or strategies is inherently uncertain. Accordingly, actual results may differ materially from anticipated results. Some of the factors that could cause our actual results to differ from our expectations or beliefs include, without limitation: the unpredictability of the size of the markets for, and market acceptance of, any of our products, including the Keyhole Cup Laparoscopic Access Device; our ability to produce and sell any approved products and the price we are able realize for those products; ourability to enter into and maintain collaborations with third parties for the development and commercialization of our products, includingthe Keyhole Cup Laparoscopic Access Device;; our need to obtain additional funding and our ability to obtain future funding on acceptable terms; our ability to retain and hire necessary employees and to staff our operations appropriately; our dependence on the success of the Keyhole Cup Laparoscopic Access Device; and the risks discussed from time to time in our filings with the Securities and Exchange Commission.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Except as required by applicable law or regulation, we undertake no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.

www.lifecmed.com

SOURCE Life Care Medical Devices Ltd