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 the U.S.
· 350,000 respiratory arrests annually from complications and over 46,200 deaths
· 3M added patient days, resulting in 2M added ICU days and over $12 billion
Eighty percent of complications during anesthesia are due to airway 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 - (631) 824-7661
Email - IR-FRTD@sterlingcapitol.net
Sterling Capitol Investor Relations
Kent Thomas, 631-824-7661
KEYWORDS: United States North America Pennsylvania
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