We are a developer, manufacturer and marketer of proprietary disposable medical devices for clinician and patient safety. Our innovative safety devices are designed to maximize the efficiency and quality of healthcare, while minimizing the risk of accidental needlesticks, which are a leading occupational cause of the spread of blood-borne diseases such as human immunodeficiency virus and autoimmunodeficiency syndrome ("HIV/AIDS"), hepatitis B virus ("HBV") and hepatitis C virus ("HCV"). We have developed multiple safety needle products based upon a broad intellectual property portfolio that applies to most medical needles used today. We are a market leader in safety Huber needles (safety infusion sets), with four complementary product offerings. We have licensed or supply several other products to leading companies in the global disposable medical products industry.
In June 2006, we merged with The Med-Design Corporation ("Med-Design"), a NASDAQ-listed company principally engaged in the design and development of safety medical needle products and technologies. Following the merger, Med-Design became a wholly owned subsidiary of ours. Med-Design stockholders received 21,525,788 shares of our common stock in exchange for their shares of Med-Design common stock. Upon completion of this exchange, the former Med-Design stockholders owned approximately 32.48% of our outstanding shares.
In June 2006, we merged with The Med-Design Corporation ("Med-Design"), a NASDAQ-listed company principally engaged in the design and development of safety medical needle products and technologies. Following the merger, Med-Design became a wholly owned subsidiary of ours. Med-Design stockholders received 21,525,788 shares of our common stock in exchange for their shares of Med-Design common stock. Upon completion of this exchange, the former Med-Design stockholders owned approximately 32.48% of our outstanding shares.
