Revolutions Medical Corp. (RMCP.OB) Recaps 2009, Predicts 2010
Revolutions Medical Corp., makers of the RevVac safety syringe, RevDisplay and Rev3D MRI Technology, yesterday offered a summary of milestones achieved in 2009, together with a look at what to expect in 2010.
In spite of the weak overall economy, Revolutions Medical was successful in raising capital and meeting all of its short term operational goals, beginning a transition from a product development company to a manufacturing and distribution company of important medical devices. Below is a summary of key 2009 achievements.
• The company ascended to Over-the-Counter Bulletin Board status.
• They acquired 100% of Clear Image Acquisition Corporation, the developer of their advanced MRI software technology.
• They invested approximately $3 million toward RevColor and Rev 3D MRI product development, while investing another $3 million toward development of the RevVac Safety Syringe.
• They received FDA 510K clearance for the RevVac Safety Syringe.
• They launched the initial steps of the RevVac manufacturing process for the 3 ml safety syringe.
• They formed a distribution partnership with Libra International in South America, the first of many targeted worldwide syringe markets, and began cultivating relationships with over 50 distributors worldwide.
• They introduced the MRI suite of products at the Radiological Society of North America.
• They signed RevMed President Tom O’Brien to a 3-year employment agreement.
• They opened a new corporate office in Charleston, South Carolina.
In 2010, the company plans to continue signing up worldwide distributors and licensing additional syringe manufacturers. It expects to receive validation of MRI tools with major teaching hospitals and medical experts. It also expects to confirm additional MRI diagnostic applications, including Alzheimer’s, concussion, cardiac disease, and breast disease. Finally, it plans to continue to expand its family of safety syringes, blood drawing devices, and other products, while expanding its management team.