UAT Group Inc, Buys 10% Stake in Bacter Scientific, Inc.
Tampa, Florida--(Newsfile Corp. - March 19, 2021) - Umbra Applied Technologies Group, Inc (OTC Pink: UATG) announced today that it has purchased 10% of the Austin, Texas based medical company Bacter Scientfic, Inc.
Bacter Scientiﬁc is a medical device manufacturer specializing in the development of products that detect and prevent infection in clinical, commercial, industrial and residential environments. The rising number of incidences of healthcare-acquired infections (HAIs) following hospital admittance or receipt of treatment in other healthcare settings has seen demand for infection-related treatments increase. In U.S. hospitals alone, the Centers for Disease Control (CDC) estimates that Healthcare-associated infections (HAIs) account for an estimated 1.7 million infections and 100,000 associated deaths each year. With the current CDC guidelines for prevention of HAIs, hospital acquired infections account for more than $30 billion in excess healthcare costs each year. The cost of these infections is estimated between $8,000 and $15,000 per patient. Valued in excess of $30 billion annually, the market has grown from a 2011 ﬁgure of $19 billion, at a CAGR of 9.5 percent.
Bacter Scientific has projected its first-year revenues in excess of $100M with a three-year evaluation in excess of $500M. UAT Group will deliver the $5M purchase price amortized over the next 24 months. The new addition to the public holding company is expected to assist UAT Group subsidiaries, UAT and The Dreaming Company, in supporting research and development currently underway in both companies.
The use of exploratory surgery and interventional procedures is also on the rise, increasing potential opportunities for infection. Furthermore, clinicians are noting rising resistance to antibiotics used to treat infections, compounding demand for effective and safe HAI treatments and technologies. In an attempt to combat the HAI epidemic, the CDC has implemented a multi-phase National Action Plan that is intended to span more than 10 years and involves dozens of agencies. The plan is primarily educational based with an emphasis on data collection. The Bacter Scientific line of products are intended to support the CDC effort and are focused on the three most problematic areas: Catheter-associated Urinary Tract Infections (CAUTI), Ventilator-associated Pneumonia (VAP) and Central Line-associated Bloodstream Infection (CLABSI).
Chief Executive Officer, Alex Umbra, commented, "As many know, we have a longstanding relationship with the team over at Bacter and it seemed only natural to have them join the Umbra family via a more definitive and long-term relationship. Their ability to deliver such advanced technology that fits in the palm of your hand within a compressed time period is impressive to say the very least. When I was approached to join the V-Tech project, I instantly understood the significance of bringing this product to market and did not hesitate to assist in any way that I could."
Bacter Scientific provides effective and innovative solutions that support clinicians with early detection and prevention technology. Bacter Scientiﬁc has an ever-growing portfolio of innovative products with investment into research and development yielding an extensive Intellectual Property portfolio. Their products include:
- Intelli-Gaurd Wound Dressing - A complete line of wound dressing that incorporates our proprietary Infection Indicator Technology.
- P-tech Catheter Coupler - A disposable, single use inline urine ﬂow infection monitor.
- BacterMate for Liquids - Is a hand-held device for instantly checking for the presence of bacteria in water and other non-electrolytic ﬂuids.
- BacterMate for Foods & Surfaces - Is a single use, handheld device for instantly checking for the presence of bacteria in foods and hard surfaces.
- V-Tech - Hand-held, battery powered medical device that can be operated by clinical and non-clinical persons to test subject saliva for respiratory welling viruses such as COVID-19, MERS, TB, Zika Virus, Influenza variants, Human Metapneumovirus and many others.
- Hygienics Keyboards - Elegantly designed, solid surface computer keyboard solutions for clinical settings.
- Hygienics Compact Keyboards - Elegantly designed, solid surface computer keyboard solutions for clinical settings.
Mr. Umbra further commented, "This is important technology that is not only timely but desperately needed during today's health crisis. I am humbled to be part of something that can help so many. It is my belief that this technology will help to save lives around the world, not just pertaining to COVID-19 but the many airborne virus' that claim millions of lives each year."
The V-Tech technology is ready for commercial production and introduction into the market, with advances in second generation models currently under development. The next generation V-Tech will feature a slimmer design and is targeted to reduce the current units testing time from 9 minutes to an estimated 3.5 minutes. The unit is currently preparing to begin clinical trials beginning next week and expects to have expedited FDA approval upon completion of in field testing via an Emergency Use Authorization (EUA). The company has submitted and continues to submit U.S. and International Patent protections for 42 Intellectual Property claims related to the V-tech device.
The CEO of the Bacter Scientific product line stated, "I have known Alex for more than a decade and working with him and the rest of his team at UAT has always proven to deliver results in innovation. UAT is like a second home and they have been integral in much of the progress we have made across many products. I look forward to our continued relationship."
For more information about Bacter Scientific go here: bacterscientific.com.
About Umbra Applied Technologies Group, Inc.
The firm is located in Tampa Florida and focuses on advanced technologies across many disciplines. UAT Group is a holding company with interests in both public and private companies during the early stages of development as well as growth stages of companies with a synergistic business model to UAT Group subsidiaries.
For more information visit www.uatgroup.com.
Investor and Media Contact: UAT Group at: firstname.lastname@example.org.
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This news release may include "forward-looking statements" including forecasts, estimates, expectations, and objectives for future operations including but not limited to its ability to conclude a business combination with a third party, sale of assets, return of capital or initial public offering and a secondary listing on the OTC as a result of aforementioned and its ability to fund the exploration of its assets through the raising of equity or debt capital or through funding by a joint venture partner that are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of Umbra Applied Technologies Group including but not limited to capital markets and securities risks and continued development success on technology. There can be and are no actual or implied guarantees that any of the above activities will be completed or completed on terms acceptable to the Company and its shareholders or approved by any regulatory authority having jurisdiction. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Umbra Applied Technologies Group does not assume the obligation to update any forward-looking statement, except as required by applicable law.
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