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Former Stryker CEO Steve MacMillan on the new product Steriplex that helps reduce the risks that patients get infections while at the hospital.
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-- -- speaking of which on to a potentially huge innovation in health care.
And if you bought it for well you know my dad was a surgeon and he used to say if you wanna get really sick.
Go to a hospital what'd he mean by that while the US center for disease control and prevention says health care associated infections like.
Infections you get in the hospital when -- in their for something else.
Cause approximately 90000.
Deaths per year in costs of four and a half billion dollars in excess health care costs.
But my next guest says a provision in the affordable health care act is going to change that yes something good out of this thing.
And it's companies stands to benefit because it's a product that it makes deep McMillan is the former Strieker CEO -- currently.
-- -- -- -- Joining me now on -- Fox Business exclusive the numbers.
-- staggering I thought 90000 people die after they go in for one thing at a hospital and get some type of weird infections.
In the hospital.
Exactly -- -- -- look better with -- if MRSA staff all these things.
We're effectively having a plane crash every day in this country -- -- and and for all kinds of weird stuff all kinds of of various infections in people -- -- made it increasingly people are getting concerned about going in for surgery because.
Almost everybody knows a family member of friend.
Who's come out of the hospital and gotten sick afterward.
And are we -- have now stopped Davis has just waiting to set and he said Barton Biggs who was a famous market that it participant in New York here at -- think he got -- -- hospital infection and died and they're now preventable with -- with sterile -- we really think we've got the product that can help eliminate this the Huntsman cancer center.
I'll put it into their toughest unit they have -- that was -- that was your test vote hospital yes it was one of the test hospitals Utah in -- -- your face yes they put in their bone marrow transplant unit they decided let's put this in the harshest environment.
The real world environment they've completely eliminated their health care associated infections one and we now 100%.
For over six months now.
So we know what can be done and frankly it's just matter of having a better product that -- stuff to a level never seen before.
And frankly that the other party is it's less toxic and safer than anything on the market these products actually approved for food surfaces for children's toys.
Hi what's that you know you're not gonna give your recipe but is that is there this toxic that.
Now the special magic of this is it's actually less toxic it is basically activated silver everybody knows going back centuries.
That silver has been a very great antimicrobial -- naturally occurring antimicrobial.
And that's the active product formulated very differently from anything that's been on the market but that's probably the single biggest breakthrough.
Technology.
OK so folks you have to understand this stuff is a thousand times the power of Lysol it's been approved by the EPA but.
Here's where the affordable health care act comes in.
Hospitals are being told now that Medicare will no longer reimburse them for -- hospital infections meaning people.
So the incentive isn't out there for hospitals to clean up their act yes.
I mean please you know from the past I have not been the biggest fan of all of the health care provisions.
But like everything there's -- good with the bad one of the great provisions I think they did put in his health care bill and we are you know -- uniquely poised.
To capitalize on it is.
Hospitals will no longer be reimbursed and they will need to report on their health care associated infections so what this means is starting January 1.
All of the hospitals will look at these -- a cost center and it's getting the much greater scrutiny.
Which will be better for reducing costs and improving care so he -- the Huntsman center now you're an HCA hospitals yes words may see how why isn't everybody signing up with this problem of the product literally has just been getting cleared of just -- in California two weeks ago so we're right at that stage after eight long years of development.
Of just bringing it to market right now we just got into a big hospitals Europe big amulets system -- Your question doctors ties as in the ties they share as they bend over patient -- The twentieth patient of the day and that time has.
Some type of infection on -- in many cases isn't that.
-- root of the cause of -- -- -- actions ties hands huge thing but their hands bed rails you know by the way the safety of this -- -- So you just break -- on -- I've just created on a very nice time on -- -- -- Now and if you think about most of this is what the health care workers you think but that that the nurses have done a high change everything.
There are so used to dealing with leeches and other things that are very toxic.
This but it has no volatile organic compound -- Biomet has not publicly traded yet however you're going to allow private investors to buy shares how is that gonna work and when can they do that yes we actually have -- limited private placement memorandum going out over the next few weeks that for accredited investors.
Very limited fashion.
Will be taking this issue money but not kind of from the broad scale has spread -- all over Charlie Gasparino -- you Russia's its teeth in his office by the way if you wanted to.
How safe did what Jerry am I and I just lift that -- so this is part of the magic.
You know doesn't taste as good as your.
Standard five star restaurant going mouthwash and something else -- a touch of winter green insensitivity -- do it it's great to see at all.
Well thank you -- -- regular cabinet she knows from medical devices and and all of that world having been the former Strieker CEO is now with the -- bio med and the product is called stare -- tell your hospital.
Thousand times stronger than -- good luck to keep us posted thanks so much Liz thank you Dow Jones and.
