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SOURCE Skyline Medical Inc.
Advanced Orthopaedics Installs Multiple STREAMWAY System Units
MINNEAPOLIS, Sept. 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 Advanced Orthopaedics, a privately held orthopedic practice based in Richmond, Va., has purchased three STREAMWAY System units to be installed in multiple surgical suits. These new installations will replace the recalled surgical waste disposal technology that had been used previously.
Advanced Orthopaedics is a full-service orthopaedic practice that features physicians who focus on the treatment of specific areas of the body. Specialties include hand, wrist and elbow surgery, foot and ankle, joint replacement, sports medicine, spine and occupational orthopaedic surgery, physiatry and electrodiagnostic medicine, pain management, shoulder, cartilage restoration, physical therapy and hand therapy. Doctors at Advanced Orthopaedics perform more than 2,500 procedures in their surgical suite each year, of which more than half are arthroscopic, producing a great deal of fluid that requires disposal.
Advanced Orthopaedics, known as leaders in their field for bringing cutting edge technology and advances in medicine to their patients, are the first group in Virginia to install the STREAMWAY System.
The FDA-approved STREAMWAY System is designed to improve safety and efficiency in the operating room by safely and seamlessly managing surgical fluid waste disposal with its direct-to-drain technology. The STREAMWAY System virtually eliminates certain operating room workers' exposure to blood, irrigation fluid and other potentially infectious fluids found in the surgical environment while dramatically decreasing costs to dispose of surgical waste. The STREAMWAY System is a stationary system designed to be installed into each surgical room that is hooked into a facility's existing drain and vacuum system.
"There is a very real need in the market for a better fluid waste management system, particularly after a major recall of one of our competitor's products," said Josh Kornberg, Chief Executive Officer at Skyline Medical. "Skyline Medical has hit the ground running in 2013 and momentum continues to build – we currently have trials and purchase orders made throughout the U.S. and new orders are coming in on a weekly basis. We are poised to take additional market share, and this most recent sale is further proof that hospitals and surgical centers realize that they need a better fluid waste management solution."
Kornberg continued, "Our STREAMWAY System meets this need and we are confident that it will exceed expectations, as it is more efficient, safer for personnel to use and more environmentally friendly than any other option on the market. Not only will the installation of these units help Advanced Orthopaedics be more efficient during its procedures, it will keep its almost 250 employees from being exposed to potentially hazardous materials."
Currently, there are trial installations of the STREAMWAY System running in hospitals and ambulatory surgical centers throughout the United States. The Company also anticipates seeking international expansion later this year.
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; approximately $3.4 million in debts, liabilities and cash obligations that become due over the next twelve months, including notes to major shareholders that are currently due October 31, 2013 and are secured by the Company's patents and other assets; potential claims for past violations of shareholders' preemptive rights, the amount of which claims is impossible to estimate, as discussed in the Company's Form 10-Q for the quarter ended June 30, 2013; 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; and 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 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
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