Distribution Agreements Signed For Major Markets

NMT Group PLC (“NMT”) announces that it has now signed distribution agreements in the US, UK, Germany and France for its lead product, the 3ml retractable safety syringe.

In the US, NMT’s subsidiary, New Medical Technology, Inc., has signed a distribution agreement with Physician Sales and Service, Inc., the largest distributor of medical supplies, equipment and pharmaceuticals to office-based physicians and healthcare providers in the US.

Douglas J. Harper, senior vice president of Physician Sales and Service, Inc. said:  “We are very pleased to have been appointed as NMT’s main distributor to physicians’ offices in the US.  We believe that NMT’s retractable safety syringe is particularly significant for the US market, given the recent legislation passed in California which requires the use of safety devices to protect healthcare workers from needlestick injuries.”

NMT has also signed an agreement with Security Personal Care, Inc. to distribute the 3ml safety syringe to prisons throughout the US.

In addition, NMT has signed distribution agreements with Owen Mumford Ltd, a leading UK medical devices supplier, German-based Medicalis Medizintechnologie GmbH, and ASEPT IN MED s.d. in France.

Dr. John Campbell, Chief Executive Officer of NMT, said:

“These distribution agreements have been signed with leading medical suppliers in each of these major markets and thus provide us an excellent infrastructure for the sale of NMT’s first product.  The fact that we have been able to agree terms with such leading companies underlines the increasing awareness of needlestick injury and the need for healthcare workers to use safe products.”
Corporate Update

Financial Review

NMT reports that its preliminary unaudited accounts for 1998 indicate that, although turnover was relatively small, the Group’s loss before tax was considerably lower than expected.  In addition, the Group’s cash reserve of £3.4 million at the period end was higher than anticipated.

Subsequently, NMT has entered into a lease arrangement with Royscot Spa Leasing Ltd, a subsidiary of the Royal Bank of Scotland, in respect of its first fully automated assembly machine, providing further finance of £900,000.

Patent Infringement

On January 14, 1999, New Medical Technology, Inc. filed its answer and counterclaim in the patent infringement suit brought by Syringe Development Partners LLC and MedSafe Technologies LLC, asking the Court to declare that New Medical Technology’s product does not infringe Syringe Development Partners’ patent and that Syringe Development Partners’ patent is invalid.

Dr. John Campbell, stated:

“It continues to be our strong belief that New Medical Technology has not infringed the patent in question and we will defend vigorously our intellectual property position.  We hope to bring a speedy end to this lawsuit.”

New Appointment

NMT also announces that Lynda Arnold has joined New Medical Technology, Inc. to assist the development of the Group in the North East region of the US and to broaden awareness of NMT’s retractable safety syringe.  Ms Arnold, a former nurse who became HIV positive from a needlestick injury in 1992, is widely known in US medical circles for her tireless campaigning to improve safety for healthcare workers.

Commenting on her appointment, Lynda Arnold said:

“I am determined to see greater protection from needlestick injury for healthcare workers in the US.  After a thorough evaluation of devices produced by other manufacturers, I am convinced that the NMT safety syringe is in a class of safety and quality substantially above competitive products.  I am therefore delighted to take the opportunity to be involved with NMT and to ensure that the broadest possible audience is aware of its product.”

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