MINNEAPOLIS, Aug. 9, 2013 /PRNewswire/ -- Skyline Medical, Inc. (OTCQB: SKLN) (the "Company"), formerly BioDrain Medical, producer of the FDA-approved STREAMWAY® System for automated, direct-to-drain surgical fluid disposal, today announced that one of the largest networks of ambulatory surgical centers (ASCs) in the United States has doubled its initial order with the Company. This second order comes just a few months after the first order, a testament to the safety, efficacy, and cost-efficient technology of the STREAMWAY System.
This national organization that will be continuing to install the Company's technology creates physician-owned and operated ASCs in partnership with local surgeons and currently has more than 150 centers throughout the U.S.
"We are closing out Q2 and heading into Q3 at a clip. The STREAMWAY System technology received rave reviews from the ASCs that the devices were installed in, prompting this national network to double their order in mere months," said Josh Kornberg, Chief Executive Officer at Skyline Medical. "This organization has more than 150 centers around the U.S., which highlights the huge potential to install more STREAMWAY Systems."
Kornberg continued, "The orders from this organization to install a total of almost four dozen STREAMWAY System units are in line with the rapid growth we've been experiencing, and expect to continue, in the ambulatory surgery network and beyond. Our partner organization's decision to expand use of the STREAMWAY System confirms that there is a real need for this technology in hospitals and surgical centers, and our system is not only proven to work but is scalable."
Skyline Medical received the order for the first set of STREAMWAY systems in ASCs this Spring. The partner organization plans to open about two dozen new centers during the next 18 to 24 months and expects rapid growth to follow soon after. The new contract indicates that the STREAMWAY System is the partner organization's preferred fluid management system for their new centers.
Cost Shield Associates, a company that specializes in supply chain management and a partner of the purchasing organization, recommended the purchase and installation of the STREAMWAY System throughout the national network. The STREAMWAY System was selected over competitors such as the traditional canister methods of fluid waste disposal and closed cart systems.
"We made the recommendation that this national group implement the STREAMWAY System because, after analyzing several options on the market, it was apparent that this System met all requirements to function safely and ultimately save the organization a great deal of money," said Kevin King, the Chief Executive Officer of Cost Shield. "The STREAMWAY System is a quality device and we are confident that the 42 plus machines in almost two dozen centers will be highly satisfactory to staff and administrators, as well as lead to future installations throughout the network."
The new contracts will be executed throughout the United States including installations in Texas, Florida and Arizona, among several other states.
For more information about the STREAMWAY System, visit: www.skylinemedical.com.
About Skyline Medical Inc.
Skyline Medical Inc. produces a fully automated, patented, FDA cleared, surgical fluid disposal system that virtually eliminates operating room workers' exposure to blood, irrigation fluid and other potentially infectious fluids 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 is not an optimal approach to the handling of surgical fluid waste. Skyline Medical's STREAMWAY System fully automates the collection, measurement and disposal of surgical fluids and is designed to result in: 1) reducing overhead costs to hospitals and surgical centers, 2) improving Occupational State and Health Association (OSHA) and other regulatory compliance agencies' safety concerns, and 3) streamlining the efficiency of the operating room (and thereby making surgeries more profitable).
Skyline Medical'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 Skyline Medical's STREAMWAY System, the number of canisters can be significantly reduced. Skyline Medical Inc.'s STREAMWAY System is designed to make the operating room and our environment safer, cleaner, and better. Skyline Medical products are currently being represented by independent professional sales representatives that cater to the needs of hospitals and ambulatory surgical centers across the country. For additional information, please visit: www.skylinemedical.com.
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, inability to raise sufficient additional capital to operate our business; unexpected costs and operating deficits, and lower than expected sales and revenues, if any; adverse economic conditions; adverse results of any legal proceedings; the volatility of our operating results and financial condition; inability to attract or retain qualified senior management personnel, including sales and marketing personnel; 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, which are available for review at www.sec.gov. 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 Annual Report on Form 10-K, as amended, and subsequent 8-K and other filings at www.sec.gov.
Public Relations Contact:
KCSA Strategic Communications
Investor Relations Contacts:
Phil Carlson / Josh Dver
KCSA Strategic Communications
212-896-1233 / 212-896-1239
|SOURCE Skyline Medical Inc.|
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