Navigation Links
BioDrain Medical, Inc. Reports Results of Annual Meeting
Date:6/20/2011

MINNEAPOLIS, June 20, 2011 /PRNewswire/ -- BioDrain Medical, Inc. (OTC Bulletin Board: BIOR), producer of the FDA cleared Streamway® System for automated surgical fluid disposal, today announced the results of the Company's Annual Shareholder Meeting, held on June 14, 2011.

Shareholders approved an amendment to the Company's 2008 Equity Incentive Plan to increase the number of authorized shares of common stock from three million (3,000,000) shares to seven million (7,000,000) shares.

In addition, the six members of the Company's Board of Directors were elected to hold office for another year. They include Lawrence W. Gadbaw, Chairman; Kevin R. Davidson, CEO and CFO; Chad A. Ruwe, COO; and Peter L. Morawetz, Thomas J. McGoldrick, and Andrew P. Redding.

The appointment of Olsen Thielen & Co. Ltd. as the independent registered public accounting firm for the Company was ratified for the fiscal year ending December 31, 2011.

Kevin Davidson, CEO of BioDrain, declared, "This has been a very successful year for BioDrain, and we are pleased to be moving ahead with the same strong leadership team. I am especially excited to announce that the Streamway® system has now been utilized in over 300 medical/surgical procedures in multiple facilities – an increase from about 100 procedures approximately one year ago. Although this number of procedures does not yet signal true market acceptance of the Streamway system, it does provide a significant amount of data for the Company to evaluate what will be necessary to achieve market acceptance over time."

All of the above results of the Annual Meeting are documented in a Form 8-K, filed with the SEC on June 15, 2011.

About BioDrain Medical, Inc.

BioDrain Medical, Inc. has a fully automated, patented, FDA cleared, surgical fluid disposal system that virtually eliminates operating room workers' exposure to blood, irrigation fluid and the related germs, viruses and diseases that are potentially found in the surgical environment. Today's manual surgical fluid handling methods of hand-carrying filled surgical fluid canisters and emptying these canisters is an exposure risk and an antiquated approach to the handling of surgical fluid waste. BioDrain's Streamway system fully automates the collection, measurement and disposal of surgical fluids resulting in: 1) reducing overhead costs to hospitals and surgical centers, 2) improving the Occupational State and Health Association (OSHA) and other regulatory compliance, and 3) improving the efficiency of the operating room (and thereby making surgeries more profitable).

BioDrain's Streamway System is eco-friendly as it contributes to cleaning up the environment. Currently, approximately 50 million bloody, potentially disease infected, canisters go to landfills annually in the United States. These tainted canisters can remain in landfills for years to come. With the installation of BioDrain's Streamway system, the number of canisters can be significantly reduced. BioDrain Medical, Inc. makes the operating room and our environment safer, cleaner, and better. BioDrain products are currently being represented by independent professional sales representatives that cater to the needs of hospitals and ambulatory surgical centers across the country.

Forward-looking Statements:

Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks to and uncertainties in the company's business that may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the company's ability to implement its long range business plan for various applications of its technology; the company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the company's reports filed with the Securities and Exchange Commission. This is not a solicitation to buy or sell securities and does not purport to be an analysis of the Company's financial position. See the Company's most recent Quarterly Report on Form 10-Q and related 8-K filings.

Investor Relations Contact:
Stanley Wunderlich
Consulting for Strategic Growth 1 Ltd.
Tel: 800-625-2236 ext. 7770
Email: info@cfsg1.com


'/>"/>
SOURCE BioDrain Medical, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. BioDrain Medical, Inc. Retains EKN Financial Services as Its Exclusive Financial Advisor and Placement Agent
2. BioDrain Medical, Inc. Completes Installation of Its Streamway™ Automated Surgical Fluid Disposal System in Minnesota Hospital
3. BioDrain Medical, Inc. Retains CFSG1 as Its U.S. Investor Relations Firm
4. BioDrain Medical, Inc. Is Eligible for Trading on the OTCBB, Notice of Allowance on Canadian Patent Application
5. Vycor Medical, Inc. Completes Equity Capital Raise
6. NMT Medical, Inc. to Sell BioTREK Technology Platform at Its Sealed Bid Sale on Friday, June 10, 2011 at Twelve OClock Noon
7. NMT Medical, Inc. Adds Intellectual Property to Its Sealed Bid Sale of Friday, June 10, 2011 at Twelve OClock Noon
8. NMT Medical, Inc. Sealed Bid Sale of its Intellectual Property to Take Place Friday, June 10, 2011 at Twelve OClock Noon
9. Saladax Biomedical, Inc. Announces Pacific Rim Commercialization Team in Australia and China
10. NMT Medical, Inc. Assigned All Its Assets to Joseph F. Finn, Jr., C.P.A. of the Firm Finn, Warnke & Gayton, LLP on April 20, 2011
11. City Medical, PC Adds Digital X-ray Machine
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... -- Research and Markets has announced the addition ... - Forecast to 2022" report to their offering. ... to date financial data derived from varied research sources to ... potential impact on the market during the next five years, ... of sub markets, regional and country level analysis. The report ...
(Date:6/23/2016)... MOUNTAIN VIEW, Calif. , June 23, 2016 ... 9:00 a.m. CST on Thursday, July 7, 2016 , , ... kayla.belcher@frost.com ) , , , , EXPERT PANELISTS:  ... Sciences, Nitin Naik; Senior Industry Analyst, Christi Bird; Senior Industry Analyst, ... The global pharmaceutical industry is witnessing ...
(Date:6/23/2016)... 2016  Guerbet announced today that it has been ... Award . One of 12 suppliers to ... its support of Premier members through exceptional local customer ... commitment to lower costs. ... our outstanding customer service from Premier," says Massimo ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... ... First Choice Emergency Room , the largest network of independent freestanding ... of its new Mesquite-Samuell Farm facility. , “We are pleased to announce Dr. ... James M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. , Dr. ...
(Date:6/25/2016)... ... ... On Friday, June 10, Van Mitchell, Secretary of the Maryland Department of Health ... of their exemplary accomplishments in worksite health promotion. , The Wellness at Work Awards ... at the BWI Marriott in Linthicum Heights. iHire was one of 42 businesses to ...
(Date:6/24/2016)... ... June 24, 2016 , ... Those who have experienced traumatic events ... turn to unhealthy avenues, such as drug or alcohol abuse, as a coping mechanism. ... tools for healthy coping following a traumatic event. , Trauma sufferers tend to feel ...
(Date:6/24/2016)... ... June 24, 2016 , ... The Pulmonary Hypertension Association (PHA) ... will receive two significant new grants to support its work to advance research ... anniversary by recognizing patients, medical professionals and scientists for their work in fighting ...
(Date:6/24/2016)... San Diego, CA (PRWEB) , ... June 24, 2016 , ... ... up with the American Cancer Society and the Road To Recovery® program to drive ... care to seniors and other adults to ensure the highest quality of life and ...
Breaking Medicine News(10 mins):