|[January 29, 2013]
Fortitude Group Inc. Announces the Acquisition of Legacy Life Science (L2S)
ERIE, Pa. --(Business Wire)--
Fortitude Group Inc., (Symbol FRTD) CEO Thomas Parilla today introduces
its first acquisition to its medical division, Legacy Life Science (L2S).
The L2S premium product portfolio contains the Comprehensive Airway
Management System consisting of five, patented FDA approved products
ready for worldwide distribution and sales. The Comprehensive Airway
Management System is engineered to significantly reduce and prevent
respiratory distress in the perioperative procedural sedation
environment (anesthesia). A common scenario in peri-operative procedural
sedation involves degradation of patient airway monitoring and
management; and therefore, constitutes the designation as a Hospital
Acquired Condition or (HAC) for respiratory related distress. Current
standard of care is insufficient, the result:
· 1M annual pulmonary complications after surgical procedures in
· 350,000 respiratory arrests annually from complications and
over 46,200 deaths
· 3M (News - Alert) added patient days, resulting in 2M added ICU days
and over $12 billion
Eighty percent of complications during anesthesia are due to arway
mishaps and respiratory distress (i.e., obstruction and/or
closure). A recent market designation of capnography as a "standard of
care" by the American Society of Anesthesiologists (ASA) and other
professional organizations clearly recognize the growing importance to
protect patients from respiratory events leading to death, these
respiratory events are categorized as HAC(s). The L2S Comprehensive
Airway Management System meets the new ASA Standards.
The total annual US market includes the hospital inpatient $1.05 billion
dollars and hospital outpatient $855 million dollars. Due to the
clinical application of the new American Society of Anesthesiologists
(ASA) guidelines, business analysts predict the market will double by
2017 and exceed $4 billion dollars.
Fortitude Group Inc., President Christopher J. Cuzzola commented, "Dr.
Colantonio and I are very familiar with this product line. We understand
the important role the Comprehensive Airway Management System plays in
saving patient lives and improving clinical outcomes while meeting the
new ASA Guidelines. "We're very excited about the growth prospects
within our Life Science Division, and shareholders can expect additional
updates to follow in the very near future"
Fortitude Group Inc. develops practical solutions for healthcare with
direct holdings, subsidiaries and or joint ventures. The Company's
service-product portfolio includes premium FDA approved medical devices
and advanced technologies engineered to prevent the risk associated
healthcare acquired conditions and improve clinical outcomes.
This press release contains forward-looking statements. Such
forward-looking statements are subject to a number of risks, assumptions
and uncertainties that could cause the Company's actual results to
differ materially from those projected in such statements.
Forward-looking statements speak only as of the date made and are not
guarantees of future performance. We undertake no obligation to publicly
revise any forward-looking statements.\
Sterling Capitol Investor Relations
Phone (News - Alert)
- (631) 824-7661
Email - IR-FRTD@sterlingcapitol.net
[ Back To Technology News's Homepage ]