Patient Safety Technologies has closed $6 million in private placement financing, and accepted the resignations of the CEO and several board members.

The Newtown, Pa.-based company is the parent of SurgiCount Medical Inc., which sells the bar code-enabled Safety-Sponge System to track the use and retrieval of sponges and towels during surgery.

In connection with the financing, certain stockholders who had called for a special meeting to request the removal of several board members withdrew the request. That's because Steven Kane resigned his positions of board member, president and CEO of Patient Safety Technologies, as did four other board members.

Brian Stewart, co-founder of SurgiCount, has been appointed president, CEO and board member. The other board members who resigned have at this time not been replaced. More information is available at

--Joseph Goedert


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