0001144204-13-045382.txt : 20130814 0001144204-13-045382.hdr.sgml : 20130814 20130814070024 ACCESSION NUMBER: 0001144204-13-045382 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20130814 ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130814 DATE AS OF CHANGE: 20130814 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENCISION INC CENTRAL INDEX KEY: 0000930775 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 841162056 STATE OF INCORPORATION: CO FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11789 FILM NUMBER: 131034911 BUSINESS ADDRESS: STREET 1: 4828 STERLING DR CITY: BOULDER STATE: CO ZIP: 80302 BUSINESS PHONE: 3034442600 MAIL ADDRESS: STREET 1: 4828 STERLING DR CITY: BOULDER STATE: CO ZIP: 80301 FORMER COMPANY: FORMER CONFORMED NAME: ELECTROSCOPE INC DATE OF NAME CHANGE: 19960502 8-K 1 v352887_8k.htm CURRENT REPORT

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

 

 

Date of Report (Date of earliest event reported) August 14, 2013

 

ENCISION, INC.

(Exact name of registrant as specified in its charter)
 
Colorado 0-28604 84-1162056
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
     
6797 Winchester Circle, Boulder, Colorado 80301
(Address of principal executive offices) (Zip Code)
   
Registrant’s telephone number, including area code (303) 444-2600

 

 

(Former name or former address, if changed since last report.)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
         

 

 
 

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

 

 

99.1       Press Release issued by ENCISION, INC., August 14, 2013.

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

  

 

  ENCISION, INC.
  (Registrant)
   
   
Date August 14, 2013  
  /s/ Mala M Ray
  Mala M Ray
  Controller
  Principal Accounting Officer

 

 

EX-99.1 2 v352887_ex99-1.htm PRESS RELEASE

From Encision Inc.: New Medicare Penalties to Include Laparoscopic Complications

BOULDER, Colo., Aug. 14, 2013 /PRNewswire/ -- Encision Inc. (ECIA:PK). According to the Centers for Medicare and Medicaid Services ("CMS"), hospitals must now focus on reducing laparoscopic surgical complications, including lacerations and accidental punctures, or face penalties. Half of all unintended punctures and lacerations during laparoscopic monopolar surgery are caused by stray electrosurgical energy and half are caused by mechanical perforation. Stray energy burns alone have accounted for more than 16,500 preventable patient complications and 4,000 preventable patient deaths over a ten year period in the U.S. alone.[1]

CMS issued its final ruling on August 2, 2013. The ruling is aimed at reducing selected complications that are high cost, high frequency and preventable. The program referred to as the Hospital-Acquired Condition ("HAC") Reduction Program, identifies occurrences of complications at hospitals and forms the basis for comparing complication rates. Under the new rule, CMS will penalize 1% of all Medicare Inpatient Prospective Payment System revenue for hospitals performing in the worst-performing quartile for these new HAC quality measures, beginning October 1, 2014.

As additional evidence that laparoscopic complications are facing more scrutiny, the National Quality Forum ("NQF") has recently highlighted errant electrosurgical energy in its definition of accidental lacerations and punctures as it relates to the new Medicare HAC reduction program.

"We applaud both CMS' and NQF's efforts to recognize laparoscopic complications as a major issue," said Fred Perner, Encision's President and CEO. "Consistent with the goal to reduce preventable laparoscopic complications, Encision's AEM® technology eliminates one of the significant contributors to complications, stray monopolar energy. We are proud to contribute to the collective objective of enhancing patient safety by improving the quality and safety of laparoscopic surgery."

About Encision

Encision Inc. designs, develops, manufactures and markets innovative surgical devices that allow surgeons to optimize technique and patient safety during a broad range of laparoscopic surgical procedures. Based in Boulder, Colorado, the Company pioneered the development of patented AEM® Technology, the only commercially available products that eliminate stray energy burns to patients during laparoscopic monopolar surgery. For more information, visit our website at www.encision.com

[1] References available upon request.

In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company notes that statements in this press release and elsewhere that look forward in time, which include everything other than historical information, involve risks and uncertainties that may cause actual results to differ materially from those indicated by the forward-looking statements. Factors that could cause the Company's actual results to differ materially include, among others, its ability to increase net sales through the Company's distribution channels, its ability to compete successfully against other manufacturers of surgical instruments, insufficient quantity of new account conversions, insufficient cash to fund operations, delay in developing new products and receiving FDA approval for such new products and other factors discussed in the Company's filings with the Securities and Exchange Commission. Readers are encouraged to review the risk factors and other disclosures appearing in the Company's Annual Report on Form 10-K for the year ended March 31, 2013 and subsequent filings with the Securities and Exchange Commission. We do not undertake any obligation to update publicly any forward-looking statements, whether as a result of the receipt of new information, future events, or otherwise.

CONTACT: Mala Ray, Encision Inc., 303-444-2600, mray@encision.com