Friday, Cardinal Health Inc. (CAH) and Patient Safety Technologies said they have entered into a five-year exclusive distribution agreement to co-market the SurgiCount Safety-Sponge System, which helps prevent retention of sponges and towels unintentionally left in patients during surgical procedures.
The companies said that the new agreement builds upon a relationship that began in 2006 when Cardinal Health became the exclusive distribution partner for the SurgiCount Safety-Sponge System, a complete and comprehensive sponge counting and documentation system designed to dramatically increase the accuracy of sponge counts performed in hospitals. Cardinal Health will continue to package SurgiCount's lap sponges, gauze sponges and operating room towels in its market-leading Presource kits and trays.
In addition, Cardinal Health has issued a $10 million purchase order for SurgiCount products, calling for deliveries over the next 12-month period. As part of the purchase order, Patient Safety Technologies has issued Cardinal Health warrants to purchase 1,250,000 shares of Patient Safety Technologies common stock (PSTX) at $2 per share and 625,000 shares of its common stock at $4 per share.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.