September 20, 2014 4:43 AM ET

Healthcare Equipment and Supplies

Company Overview of Patient Safety Technologies, Inc.

Company Overview

Patient Safety Technologies, Inc., through its subsidiary, SurgiCount Medical, Inc., engages in the development, marketing, and sale of products; and the provision of services in the medical patient safety markets in the United States. The company offers Safety-Sponge System, an integrated counting and documentation system that prevents surgical sponges and towels from being unintentionally left in patients after surgical procedures by allowing for accounting of these individual items prior to the patient being closed. The SurgiCount Safety-Sponge System is a patented system of bar-coded surgical sponges, SurgiCounter scanners, and SurgiCount360 software applications. Patient Safety Technolo...

2 Venture Plaza

Suite 350

Irvine, CA 92618

United States

Founded in 1959

25 Employees





Key Executives for Patient Safety Technologies, Inc.

Age: 49
Vice President and Treasurer
Vice President and Secretary
Age: 54
Age: 83
Vice President of Product Management
Compensation as of Fiscal Year 2014.

Patient Safety Technologies, Inc. Key Developments

Patient Safety Technologies, Inc. Announces Management Changes

Pursuant to the agreement and Plan of Merger, dated as of December 31, 2013, by and among Stryker Corporation, PS Merger Sub Inc. and Patient Safety Technologies, Inc. on March 24, 2014, Merger Sub was merged with and into the company, with the company continuing as the surviving corporation and as a wholly owned subsidiary of Stryker. In connection with the Merger, both Brian E. Stewart and David C. Dreyer ceased to serve as officers of the company on March 24, 2014. Immediately following the Effective Time, the directors of the company appointed Timothy J. Scannell to serve as President, David G. Furgason to serve as Vice President, Jeanne M. Blondia to serve as Vice President and Treasurer and Dean H. Bergy to serve as Vice President and Secretary.

Patient Safety Technologies, Inc. Provides Earnings Guidance for the Fiscal Year Ended December 31, 2014, 2015 and 2016

Patient Safety Technologies, Inc. provided earnings guidance for the fiscal year ended December 31, 2014, 2015 and 2016. For the year 2014, the company expects revenue of USD 32.6 million, revenue growth rate of 47.0%, EBITDA of USD 4.6 million, and EBIT of USD 3.1 million. For the year 2015, the company expects revenue of USD 44.8 million, revenue growth rate of 37.4%, EBITDA of USD 11.3 million, and EBIT of USD 9.8 million. For the year 2016, the company expects revenue of USD 61.7 million, revenue growth rate of 37.8%, EBITDA of USD 19.5 million, and EBIT of USD 18.4 million.

Patient Safety Technologies, Inc., Special/Extraordinary Shareholders Meeting, Mar 21, 2014

Patient Safety Technologies, Inc., Special/Extraordinary Shareholders Meeting, Mar 21, 2014. Agenda: To consider and approve the adoption of the agreement and plan of merger.

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