TSO3 Provides Operations Update
Recruiting, Supplier Relationships and Improved Process Flow All Contributing to Increased Production Rates and Shipments
Québec City, Québec – February 25, 2016 – TSO3 Inc. (TSX: TOS), an innovator in sterilization technology for medical devices in healthcare settings, reported an improved outlook for its production and operating capacity of STERIZONE® VP4 Sterilizers at its existing Québec, Canada facility.
As announced in December 2015, TSO3 set out to rapidly increase its ability to meet unprecedented demand for its STERIZONE® VP4 Sterilizer from its exclusive distribution partner, Getinge Infection Control AB, the world leader in infection control solutions. Since then, TSO3 has reviewed its recruiting, supplier relationships and process flows and confirms that the facility can support 200 units annually. The Company is further optimizing its process work flows and systems in the Québec facility, and expects to be able to produce one sterilizer per day by the third fiscal quarter of 2016.
TSO3’s production rates have increased significantly in each of the last three months to address demand, and the Company has already surpassed, to date, all previous production records in its history. The Company has hired and trained additional skilled assemblers and quality assurance personnel and is working with key suppliers to receive required components in the quantities and quality required, in a timely manner.
“The Quebec facility is in the second phase of ramping manufacturing capacity to 200 units annually by mid-March,” said TSO3 Chief Operating Officer Harold Tessman. “We have improved our operations team, including the recruitment of several managers and technical professionals with solid backgrounds in the medical device industry. Our Tier 1 suppliers have been identified and are producing, and the Company has initiated an accelerated lean transformation of assembly operations.”
R.M. (Ric) Rumble, TSO3’s president and CEO, commented: “The progress we have made in our assembly operations is on track with our plan and addresses a significant hurdle in our growth objectives. We look forward to providing further updates in the coming months on what is shaping up to be a record year.”
While TSO3 believes current capacity will satisfy its production needs for the 2016 fiscal year, the Company is actively exploring additional locations and/or means to produce at greater volumes in 2017 and beyond.
About the STERIZONE® VP4 low temperature sterilizer
The STERIZONE® VP4 Sterilizer developed by TSO3 is a dual sterilant, low temperature sterilization system that utilizes vaporized hydrogen peroxide (H2O2) and ozone. Its single cycle can sterilize a large number and wide range of compatible devices, thereby allowing for a cost effective and error-free sterilization process. TSO3’s unique Dynamic Sterilant Delivery SystemTM automatically adjusts the quantity of injected sterilant based on the load composition, weight and temperature. With its large 75 lb load capacity and a short cycle time, the STERIZONE® VP4 Sterilizer can enhance throughput and lower sterilization cost. The STERIZONE® VP4 Sterilizer was cleared for commercialization in the United States in December 2014.
More information about the STERIZONE® VP4 Sterilizer is available through TSO3’s website, under the Products section: https://www.tso3.com/en/products/sterizone-vp4/
Founded in 1998, TSO3’s activities encompass the sale, production, maintenance, research, development and licensing of sterilization processes, related consumable supplies and accessories for heat-sensitive medical devices. The Company designs products for sterile processing areas in the hospital environment that offer an advantageous replacement solution to other low temperature sterilization processes currently used in hospitals. It also offers services related to the maintenance of sterilization equipment and compatibility testing of medical devices with such processes.
For more information about TSO3, visit the Company’s web site at www.tso3.com or contact Liolios Group at 949 574-3860 or email TOS@liolios.com or Renmark Financial Communications at 416 644-2020 or 514 939-3989 or by email at email@example.com.
The statements in this release and oral statements made by representatives of TSO3 relating to matters that are not historical facts (including, without limitation, those regarding the timing or outcome of any financing undertaken by TSO3) are forward-looking statements that involve certain risks, uncertainties and hypotheses, including, but not limited to, general business and economic conditions, the condition of the financial markets, the ability of TSO3 to obtain financing on favourable terms and other risks and uncertainties.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The TSX has neither approved nor disapproved the information contained herein and accepts no responsibility for it.
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