DGAP-News: Competitive Technologies Announces New International Distributor

(firmenpresse) - Competitive Technologies, Inc.

13.04.2011 19:09
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FAIRFIELD, Conn., April 13, 2011 (GLOBE NEWSWIRE) -- Competitive Technologies,
Inc. (OTCQX:CTTC) announced today that it has recently signed a new
distribution agreement, including the sale of 52 Calmare(r) pain therapy medical
devices, with a wholly owned subsidiary of Hospital Consulting SpA, for Italy
and Malta. The subsidiary, Life Episteme Italia ('LEI'), was previously
partially (51%) owned by Life Episteme Group ('LEG') of Geneva.

In December 2010, CTTC cancelled its distribution agreement with LEG for all
countries and reclaimed into inventory Calmare(r) devices that had previously
been sold to LEG, but for which CTTC had not been paid. Effective March 31,
2011, CTTC and LEG officially concluded all prior agreements and LEG completed
its withdrawal from its ownership in LEI.

CTTC looks forward to a long and productive relationship with LEI. Both parties
expect to provide the Calmare(r) device to hospitals, physicians and medical
groups in Italy and Malta with the goal of providing ongoing relief to patients
suffering from chronic pain.

CTTC remains confident that it will be profitable in its first quarter ended
March 31, 2011, and throughout the fiscal year ending December 31, 2011. The
agreement with LEI is one of several agreements the Company is in the process
of negotiating in the U.S. and international locations, all of which are
intended to enable Prof. Giuseppe Marineo's 'Scrambler Therapy' to relieve
suffering from neuropathic pain. As sales of the Calmare(r) device expand, CTTC's
revenue and net profit are expected to grow.

About Life Episteme Italia

Life Episteme Italia is a medical device distributor that is now wholly owned
by Hospital Consulting, SpA of Italy. Hospital Consulting provides advisory,


management and organizational services to the healthcare and environment
sectors. With 30 years of experience, Hospital Consulting is an ideal partner
for clients looking for effective and competitive solutions to meet the growing
demands for complex and structured services needed to be a market leader in the
healthcare marketplace. LEI's President Marisa Giampaoli who is also the
Managing Director of Hospital Consulting is well respected at the highest
levels of the Italian public and private health sector for her reputation,
personal integrity and professional expertise.

About Competitive Technologies, Inc.

Competitive Technologies, established in 1968, provides distribution, patent
and technology transfer, sales and licensing services focused on the needs of
its customers and matching those requirements with commercially viable product
or technology solutions. CTTC is a global leader in identifying, developing and
commercializing innovative products and technologies. CTTC's principal
technology is the non-invasive Calmare(r) pain therapy medical device, which uses
the biophysical 'Scrambler Therapy' technology, and was developed in Italy by
CTTC's client, Professor Giuseppe Marineo. The Calmare(r) device is currently
being manufactured for sale by CTTC's partner, GEOMC Co., Ltd. of Seoul, Korea.
For more information on the device, visit www.calmarett.com. Visit CTTC's
website: www.competitivetech.net

Statements made about our future expectations are forward-looking statements
and subject to risks and uncertainties as described in our most recent Annual
Report on Form 10-K for the year ended July 31, 2010, filed with the SEC on
October 27, 2010, and other filings with the SEC, and are subject to change at
any time. Our actual results could differ materially from these forward-looking
statements. We undertake no obligation to update publicly any forward-looking
statement.

Direct inquiries to: Jean Wilczynski, IR Services, LLC
(860.434.2465/info@corpirservices.com)


CONTACT: IR Services, LLC
860.434.2465
info@corpirservices.com
News Source: NASDAQ OMX



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Language: English
Company: Competitive Technologies, Inc.


United States
Phone:
Fax:
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Internet:
ISIN: US2045121074
WKN:

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