United Health Products reached a $400M market valuation on speculative hopes related to its HemoStyp surgical gauze.
UEEC’s only product, HemoStyp, is a 17-year-old, cheap commodity gauze made in China with no published data or clinicians supporting it.
UEEC’s website discloses claims of pharmaceutical activity of its HemoStyp, which can compromise FDA 510K submission approval.
The company has been operating from a PO Box with no staff and no R&D investment for many years.
The company suggests a story of a product ready for FDA approval and a big money acquisition, with no factual support.
See the full report on Seeking Alpha here.