Los Angeles, CA, March 01, 2021 (News) — KRONOS ADVANCED TECHNOLOGIES, INC. (OTC MARKETS: KNOS) (“KNOS” or the “Company”), product development and production company that has significantly changed the way air is moved, filtered and sterilized announced today that it has signed a definitive agreement to acquire medical mask startup, Merit Mask, Inc.
Merit’s masks are designed to address many issues, like perfect fit, sealing, reusable, eco-friendly, as well as comfortable to be worn for long-hour hospital shifts.
This acquisition reinforces Kronos’ commitment to expanding its offering of Personal Protective Equipment (PPE) and the development of the most advanced PPE products through M&A (mergers and acquisitions) opportunities as well as through R&D with the goal of improving personal protection from infectious aerosols.
Under the agreement, Kronos acquired the controlling interest, including mask designs, and will obtain full rights to the future suite of innovative medical PPE to be developed by Merit Mask, Inc.
By acquiring Merit Mask, Inc., Kronos is assuming worldwide responsibility for design, manufacturing, distribution, and business strategy for the company’s product portfolio, immediately.
“It is a great pleasure to announce our pending acquisition of Merit Mask Inc,” said Michael Rubinov, President of KNOS. “This acquisition holds the potential to be a pivotal moment in our PPE products portfolio in addition to our patent-pending mask designed for the general public, and we are delighted to expand our product portfolio to include specialized masks for the medical community currently fighting COVID-19 on the frontlines.”
“As the CEO of Merit Mask, I am delighted to merge with Kronos Advanced Technologies. Merit Mask was born out of the necessity to fight Covid-19. This catastrophic pandemic has touched everyone including us, here at Merit Mask, when Covid robbed us of my best friend and colleague and one of the best medical providers that ever graced this earth. I know that under the leadership of Kronos, Merit Mask will achieve its singular mission and that is to be the single best Covid-19 fighting mask EVER produced. Stay tuned as greater things are about to happen,” stated Cornell Calinescu, MD, Merit Mask CEO.
This forthcoming flagship product is a specialty face mask designed and made from medical-grade silicone with a personal air purification device attached to the mask.
“We are excited about the acquisition of Merit Mask Inc as it expands our expertise in innovative personal protective equipment (PPE) technology, strengthens our leadership in air purification and sterilization, and reinforces our commitment to the purpose of making people’s lives healthier, the air we breathe safer and our doctors’ job safer,”- commented a Kronos management team member.
American College of Surgeons suggested last year that: An important point for surgeons is the use of PPEs in the operating room. Because there seems to be a variable understanding of the recommendations, we have provided some basic recommendations. The CDC has provided information and recommendations for PPE use for COVID-19 patients or persons under investigation (PUI).
Since ensuring a proper fit of the N95 mask is paramount, fit testing is necessary. The CDC also has delineated some key factors for using the N95 mask effectively, as well as checking for an appropriate mask “seal.”
While in the operating room (OR), N95 respirators are recommended, particularly when operating on confirmed or suspected COVID-19 patients; however, the American College of Surgeons recognizes that many health care facilities have limited access to N95s at this time. Recent recommendations have been developed by the ASA and others showing a projected shortage of N95 masks.
Recently published research by Grand View Research indicated that: The U.S. healthcare personal protective equipment market size was valued at USD 1.71 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 29.1% from 2020 to 2027. Advancements in medicine and technology, coupled with the widespread use of electronic health records, are expected to create more jobs for healthcare workers, resulting in creating opportunities for PPE manufacturers in the U.S. over the forecast period. Healthcare spending in the U.S. has been increasing considerably over the past few years. Demand for healthcare services and products has led to increased use of healthcare personal protective equipment, such as coveralls, gowns, lab coats and aprons, respirators, bouffant caps, shoe covers, masks, and gloves. In addition, the growing geriatric population in the U.S. is anticipated to boost healthcare spending over the forecast period. The U.S. population is expected to grow from 329 million in 2019 to approximately 359.4 million by 2030, according to the U.S. Bureau of Labour Statistics. In addition, over 20% of the U.S. population is expected to be over 65 years or older by 2030. The aging population is expected to augment the demand for healthcare services, which, in turn, is expected to boost the product demand over the coming years.
PPE is used by medical practitioners to protect their skin and mucous membranes of the mouth, nose, and eyes from exposure to contaminated blood or other potentially infectious bodily fluids/materials. An increasing number of hospital-induced infections, coupled with rising educational campaigns organized by the OSHA on occupational exposures, is expected to boost the product demand in the healthcare sector over the forecast period.
The COVID-19 pandemic outbreak has resulted in augmenting the demand for PPE, including gloves, coveralls, gowns, surgical masks, respirator masks, face shields, and goggles, in healthcare facilities. However, the limited supply of the aforementioned products has resulted in PPE shortages, thereby disrupting the supply chain. This, in turn, has resulted in creating opportunities for domestic companies to ramp up their manufacturing capacities.
In response to the COVID-19 pandemic, the PPE value chain includes relaxation of controls by government agencies to ensure uninterrupted supply, increasing production capacities, and controlling the export of PPE. Furthermore, the long-term impact of the pandemic involves strategic stockpiling of critical supplies, industrial PPE companies catering to the healthcare industry, significant growth in the manufacturing capacities of various players, and an increase in the number of mergers & acquisitions as well as new entrants.
The rapid spread of the COVID-19 in the U.S. has dramatically increased the demand for healthcare PPE, such as surgical masks, gloves, gowns, and goggles, which has further resulted in an insufficient supply of PPE. Moreover, increasing demand, coupled with panic buying, stockpiling, hoarding, and misuse of PPE, is anticipated to result in PPE shortages, thereby disrupting the supply chain.
About Merit Mask, Inc.
Merit Mask Inc is a medical PPE manufacturer based in Nevada. Necessity being the mother of invention, Merit Mask was founded in 2019 by emergency room physicians, nurses, and nurse practitioners alike who realized the overwhelming need to better protect healthcare workers on the frontlines following the death of one of their beloved colleges during the Covid-19 pandemic. After several designs and prototypes and after getting feedback from many doctors around the country, we have developed the ultimate mask for all healthcare providers. The mask is 100% reusable, re-sterilizable, re-cyclable; it is available for sale on https://www.Meritmask.com
Doctors need to wear complete protective equipment when large numbers of patients flood into the emergency rooms. The current coronavirus epidemic has increased the need for face masks and respirators that can be used without increasing the chances of contact transmission. As a result, we have developed an improved mask designed to reduce the chances of infection from direct contact by healthcare workers.
About Kronos Advanced Technologies, Inc.
The Company was initially founded in 2002 and funded by the U.S. military to develop electrostatic air movers. Eventually, the Company moved into the consumer air purification business. It began operations as a product development company that invented and significantly changed the way air is moved, filtered, and sterilized. Historically, Kronos has focused on developing, marketing, and selling the Company’s proprietary air movement and purification technology. Serving the Indoor Air Quality (IAQ) market, Kronos technology uses state-of-the-art high voltage patented processes without the use of traditional porous HEPA filters. Kronos-based products move air silently, filter, sterilize, and purify the air while dramatically reducing energy consumption to half of a 60-watt light bulb. Kronos devices can be variable in shape or size and, therefore, have the potential to be scaled-down for air purification in cars or scaled-up in size for industrial and hazardous gas destruction. The technology is currently being implemented in multiple standalone products for businesses, homes, and vehicles of all types -to move, sterilize and filter air, including removing allergens down to 14.6 nanometers, passing through our patented technology -replacing expensive outdated passive HEPA and other filtration type systems. There are broad ranges of additional markets for standalone and embedded Kronos CORE technology-based devices. Examples of immediately addressable markets include schools, universities, healthcare facilities, operating rooms, manufacturing clean rooms, and the cabins of automobiles and commercial aircraft.
Recently, the Company filed for a provisional patent involving an innovative protective face mask with antimicrobial and anti-cellphone radiation protection features. The Company is planning to file additional patents to improve its existing technology as well as enter into new market segments but will continue to market air purifiers and other consumer products. The Company is an exclusive distributor and licensee of the latest generation of air purifiers based on the Company’s CORE technologies. The Company markets its products as Airdog® and KRONOS® brands. All Kronos products come with Kronos Promise ™ -Your Satisfaction is Guaranteed!
Company offices are located in Los Angeles, California.
Shopping portal: https://www.1800safeair.com
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Social Media Disclaimer and Forward-Looking Statements.
Kronos Advanced Technologies investors and others should note that we announce material information to the public about the Company through various means, including our website (https://www.kronosati.co/investors), through press releases, OTCmarkets filings, public conference calls, via our corporate Social Media accounts, listed above. We encourage our investors and others to monitor and review the information we make public in these locations as such information could be deemed to be material information. Please note that this list may be updated from time to time.
Certain statements contained in this press release may constitute “forward-looking statements.” Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the OTC Markets at OTCMarkets.com. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company’s ability to raise capital on acceptable terms, if at all, the Company’s successful development of its products and the integration into its existing products and the commercial acceptance of the Company’s products.
The forward-looking statements included in this press release represent the Company’s views as of the date of this press release, and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so.
These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of the press release.
SOURCE: KRONOS ADVANCED TECHNOLOGIES, Inc
Phone inquiries: 1-800-SAFE-AIR (option #4)
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