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DRAPER, Utah, May 07, 2019 (GLOBE NEWSWIRE) -- Flexpoint Sensor Systems, Inc. (FLXT) recently announced their collaboration on a new medication management system with Counted, LLC. Counted’s Smart Blister Pack featuring the Flexpoint Bend Sensor® is built to monitor and track patients’ use of pharmaceuticals, and in particular, opioids, by medical professionals, insurance providers and authorities in real-time.
The Flexpoint Bend Sensor® technology has been integrated into a Utah-based health tech company’s blister pack system that will track and report data in real time, decreasing the opportunities for theft, prescription fraud and other abuses as identified in The Opioid Crisis Response Act of 2018, passed by the Senate late last year. As per the terms of the five-year agreement between Flexpoint and Utah-based Counted®, Flexpoint will deliver theBend Sensor®which, when combined with Counted’s Smart Blister Pack, will supply medical providers real time data and provide them with the insight to better regulate the length, quantity, and dosage of opioid prescriptions and other medications, while reducing medication errors and the introduction of counterfeit pharmaceuticals.
Counted’s technology, in conjunction with the Bend Sensor(R), enables a cloud system to collect the date, time, location, and temperature of the use of each single pill, while simultaneously sharing this data with appropriate health personnel. This system allows for timely and accurate communication between health care providers and patients, insuring patients in medical need are taking their drugs as prescribed. It can also be tailored to send notifications ranging from misuse, tampering, diversion, or reminders, thus making it easier to monitor the administration of powerful drugs as well as highlighting any patterns of abuse.
“The Flexpoint Bend Sensor is a very robust and easy to integrate sensing technology. The Bend Sensor will fit many applications. We are excited that the sensor’s use has helped Counted® realize their vision for this revolutionary life saving product,” stated Dave Beck, Director of Engineering for Flexpoint. “We believe sensor production will increase month over month and potentially ramp up to exceed millions of sensors per year,” added Clark Mower, CEO Flexpoint Sensor Systems, Inc.
In January of 2018, former FDA Commissioner, Dr. Scott Gottlieb stated, “The issue of opioid misuse and abuse remains one of my highest priorities and we believe it’s going to take carefully sustained and coordinated action by everyone involved to reduce the tide of opioid addiction and death afflicting our communities, while maintaining appropriate prescribing for patients in medical need. We recognize both the urgency and complexity of this crisis and are taking several steps toward these goals.”
The United States FDA has stated one of their key roles in addressing the opioid epidemic is through reduction of new addiction and influence on prescribing medical professionals through Risk Evaluation and Mitigation Strategy (REMS) authorities.
The economic burden of prescription opioid misuse in the United States alone is 78.5 billion dollars a year, and roughly 21 to 29 percent of patients prescribed opioids for chronic pain misuse them. Between 8 and 10 percent of users will develop an opioid use disorder. The goal of the Counted® blister pack featuring Flexpoint Bend Sensor® technology is not only to aid in the justice systems prescription drug monitoring programs, but to advise, guide, and tailor prescription medications for patients in medical need, while helping to eradicate the deadly epidemic of prescription pain killer abuse and its effects on the communities of our country.
Counted’s Smart Blister Pack is designed for any type of medication delivery or dispensory monitoring, and can be applied to any system where seamless security and or medical adherence and data reporting is paramount.
About Flexpoint Sensor Systems, Inc.
Flexpoint Sensor Systems, Inc. (FLXT) is an innovative technology firm specializing in developing products that feature the Company's patented Bend Sensor® and related technology. The Bend Sensor® is a groundbreaking sensing solution that is revolutionizing applications in the automotive, safety, medical and industrial industries. The Bend Sensor® single-layer, thin film construction cuts costs and mechanical bulk while introducing a range of functions and stylistic design possibilities that have never before been available in sensing technology. Flexpoint's technology and expertise have been recognized by the world's elite business and academic innovators for over 17 years. The company is setting a new standard for sensing solutions in the "smart" age of technology.
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.
Flexpoint Sensor Systems
Clark Mower, President
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