At the annual stock holders meeting on April 30th 2009, TSO3′s CEO broke some good news. The company intends to add an extra processing option to their STERIZONE ® 125L product. This new TSO3 ozone sterilization cycle (currently under development) will allow hospitals to use the system with an expanded range of sensitive medical devices. The goal is to reduce healthcare sterilization costs and expand into additional markets.
This ozone based sterilization system is a viable and eco-friendly alternative to ethylene oxide based units. There are a number of hazards associated with EtO. It can be a nasty environmental pollutant and strict controls are necessary when using it. In contrast, using low temperatures without any toxic agent residue is a major advantage for TSO3 equipment.
Ethylene oxide sterilization can take as long as 18 hours because of the toxicity of the agent used. In contrast, the average cycle time for the 125L model using self-generated ozone is only about 4.5 hours. The company intends to reduce this cycle time even further to meet customer needs. Their aim is to obtain FDA approval for use of this sterilizing equipment to disinfect a wider array of medical devices.
This will give customers even more reason to purchase their sterilizers from TSO3. The hope is that more revenue will eventually be generated because of this new research and development. Many instruments have already been listed as approved to be sterilized with this particular ozone process. Health Canada recently approved STERIZONE ® to be used with multi-channel flexible endoscopes in March of this year.
TSO3 First Quarter Financial Results
TSO3 announced on May 15th 2009 that their first quarter of 2009 revenue increased substantially year over year from the same period in 2008. The total operating loss was reduced from 5 cents per share to only 4 cents per share. They posted revenues of $533,488 this period as opposed to only $91,147 the same time a year ago. The new trend is encouraging and indicates more acceptance of this innovative technology in the market place.
This is all good news for shareholders. It shows that the company is focused in its attempts to eliminate the company’s current operating loss. This could be just the latest in a series of changes that have recently resulted in improved financial numbers for the corporation. It follows a major restructuring of the company over the past year. That transition included massive one time nonrecurring and extraordinary expenses that will not be carried forward.
TSO3 was founded in Québec City in 1998. Since then, they have constantly done research and development to find a high performance alternative to EtO for sterilizing delicate and complex medical instruments. The 125L STERIZONE® was their first product to make it to market that accomplishes this goal. It uses only oxygen, water, and electricity to perform and does not release harmful chemicals into the environment.
If you are looking for a ‘green’ solution for your sterilization needs, make sure you have the data necessary to make an informed decision. Click on this report to get valuable guidance free of charge.
