Medifirst Solutions Inc (OTCMKTS:MFST) reported that its has submitted 510(k) for the approval of U.S. FDA. The company is seeking the FDA approval for product line of mobile, affordable hand-held Laser devices. These products can be used by numerous medical and healthcare professionals to assist patients with certain cosmetic skin problems such as muscle spasm, inflammation and muscle and joint pain.
The expert comments
Bruce J. Schoengood, the President of Medifirst, said that they are excited to have filed the application after several months of working closely with FDA Consulting Group to end and fine-tune the submission and presentation. The management considers laser devices to be revolutionary products that can change the landscape of the medical industry. Schoengood further said that they are excited to advance into the next phase of business plan to launch national marketing and sales campaign upon U.S. FDA approval. As of now, Medifirst is designing sales and marketing campaign for internal sales and commercialization.
The highlights
As recently reported, Medifirst Solutions Inc (OTCMKTS:MFST) has a subsidiary firm titled Medical Lasers Manufacturer, Inc. The Laser segment and associated products including therapy plans will be carried out of this subsidiary firm. Led by the increasing demand for minimally invasive pain and skin treatments, the international market for therapeutic and medical lasers has been projected to grow to $4 billion in 2015.
The subsidiary
Medical Lasers Manufacturer will be responsible for producing premium diode-pumped lasers. They are working with expert group of engineers with extensive experience in field of laser research and manufacturing. The team has been designing customized laser products to meet the needs of different universities and labs. Medifirst subsidiary intends to design new laser products to fulfill the global medical needs including innovative applications.
In last trading session, the stock price of Medifirst declined 40% to close the trading session at $0.0117. The decline came at a share volume of 7.046 million compared to monthly average share volume of 103,598.
