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CODONICS Receives 2013 NorTech Innovation Award for improving the safety and accuracy of medication management

NorTech Innovation Award

CLEVELAND, OHIO – March 15, 2013 – CODONICS INC. has been recognized as a recipient of the 2013 NorTech Innovation Awards. It received the honor yesterday during the annual awards ceremony at Embassy Suites in Independence, Ohio.

Codonics was recognized for its Safe Label System (SLS). SLS is an award-winning, FDA-approved medical system that improves the safety and accuracy of medication management, integrating worldwide recognized best practices and international standards. SLS addresses the three most common medication errors made during the selection, preparation and administration of injectable and intravenous medications, helping to prevent vial and ampoule swaps, mislabeling, and syringe swaps. The system utilizes barcode technology to read information from a drug container and electronically verify it against the pharmacy’s hospital-approved drug database. When a drug is scanned on SLS, the clinician is immediately presented with audible and visual confirmation of the drug name and concentration, providing an electronic double check to ensure that the medication selected is correct. SLS brings pharmacy best practices and clinician expertise together to provide safe, compliant labeling at the fingertips of anyone preparing medications.

"We are truly honored and humbled for this prestigious recognition and awareness for improved patient safety technology," said Peter Botten, President and CEO, Codonics. "Despite a world of best practices, national and international standards and caring, and competent medical professionals, medication errors continue to occur. Codonics is committed to ending medication labeling errors forever, and we are proud to be working with renowned medical centers, organizations and governmental agencies worldwide to advance best practice standards for medication safety."

Sponsored by NorTech and Crain's Cleveland Business, the NorTech Innovation Awards honor the region's most innovative organizations that have either demonstrated dramatic impact in a specific industry or market sector or have the clear potential to do so in the near future.

The awards cover six distinct industries: advanced energy; advanced materials; biosciences; flexible electronics; instrumentation, controls and electronics; and water technologies. This year, seven companies were recognized:

  • Akron Surface Technologies, Inc.
  • Cleveland HeartLab
  • CardioInsight / Nottingham Spirk
  • Codonics, Inc.
  • NASA Glenn Research Center
  • quasar energy group
  • SNS Nano Fiber Technology, LLC

For detailed descriptions and short videos of all seven honorees and their breakthrough technologies visit www.nortech.org/regional-impact/success-stories/2013-innovation-awards.

"Our honorees are developing and commercializing exciting innovations that are helping to revitalize Northeast Ohio's economy," NorTech President and CEO Rebecca O. Bagley said. "These inspiring technologies are all vastly unique. What they have in common is the potential to transform our region by creating jobs, attracting capital and generating long-term, positive economic impact. NorTech congratulates Codonics for receiving this prestigious award."

The NorTech Innovation Awards ceremony highlighted Northeast Ohio as a place of groundbreaking innovation that produces world-class technology every year. It featured a keynote address by Vitamix President and CEO Jodi Berg, who gave an inspirational talk on how to think outside the box, leverage creative strategies and be ready to compete.

The evening kicked off with a panel discussion with leaders from Avery Dennison, Eaton Corp. and Rockwell Automation addressing the role innovation has played in their companies' growth strategies. Panelists were Andrew J. Poslinski, technical director of the Films Center for Excellence at Avery Dennison; Daryll Fogal, senior vice president of technology for the electrical sector at Eaton Corporation; and Kenwood H. Hall, vice president, architecture and systems, advanced technology, and distinguished engineering fellow at Rockwell Automation. The panel was moderated by Ms. Bagley.

A panel of distinguished judges, representing academia, venture capital, private industry and economic development, selected this year's NorTech Innovation Awards winners from a number of high-quality nominations from entrepreneurs, companies, research institutions and universities.

Judges included Shauna Brummet, Ph.D., President & CEO, BioHio Research Park; Peter Buca, Vice President of Technology & Innovation, Parker Hannifin Corporation; Dennis Cocco, Co-Director, GLIDE; Andy Conti, Director of External Innovation, Avery Dennison; Ajay Mahajan, Ph.D., Associate Dean for Research & Professor of Mechanical Engineering, The University of Akron; Grant McGimpsey, Ph.D., Vice President for Research and Sponsored Programs, Kent State University; Jay Schabel, CEO, RES Polyflow.

NorTech has presented the Innovation Awards since 2000. The 2013 NorTech Innovation Awards were presented by NorTech, Crain's Cleveland Business and Kent State University, and sponsored by Cleveland Public Power, Keystone Compliance and Fay Sharpe LLP.

About Codonics Inc.

Codonics is a global business and provides the medical industry with some of the most advanced medical imaging and patient safety products in the world from our headquarters in Cleveland, Ohio. Since 1982, Codonics has experienced exciting growth and award-winning achievements. Today, we are represented in 110 countries with more than 30,000 product installations in renowned, cutting-edge medical facilities throughout the world. To learn more about Codonics, please visit www.codonics.com.

About NorTech:

NorTech, a technology-based economic development organization, is working to revitalize Northeast Ohio's economy by accelerating the growth of regional innovation clusters in the advanced energy, flexible electronics and water technologies industries. NorTech engages small, large and midsize companies and universities for business, funding and research opportunities that create jobs, attract capital, and have a long-term, positive economic impact for the region.

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