MINNEAPOLIS, MN--(Marketwire - November 15, 2011) -
BioDrain Medical, Inc. (OTCBB: BIOR
) (OTCQB: BIOR
), producer of the FDA-cleared STREAMWAY System for automated surgical fluid disposal, announced today that the Company has shipped its patented STREAMWAY Systems to fulfill a recent multi-unit purchase order totaling approximately $90,000 from an East Coast-based hospital.
The sale of the majority of these STREAMWAY Systems will be recognized in BioDrain's fourth quarter revenues. Moreover, the order represents a one-time and long-term revenue potential, given the significant consumable sales attributable to the purchase of each STREAMWAY System.
Kevin Davidson, CEO of BioDrain Medical, commented, "We are very excited to announce the fulfillment of this order as it demonstrates BioDrain Medical's continued expansion into surgical centers and hospitals across the United States. More and more doctors as well as surgical personnel are becoming aware of and impressed by the ease of installation and use, and the important safety, efficiency and cost benefits of our STREAMWAY System. Surgical personnel are especially pleased with STREAMWAY's exceptional performance in difficult, high-fluid cases. With this latest shipment and our recent installations in South Florida and Minnesota, I am delighted to see that STREAMWAY is gaining traction in the market for surgical fluid disposal systems."
About BioDrain Medical, Inc.
BioDrain Medical, Inc. has a fully automated, patented and 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. Current 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, however, 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 presents a sustainable solution to fluid disposal in operating rooms. Presently, around 50 million bloody, potentially disease infected canisters go to landfills in the United States annually. Moreover, these tainted canisters can remain in landfills for years. With the installation of BioDrain's STREAMWAY System, the number of these canisters can be significantly reduced, making both the operating room and our environment safer and cleaner. Independent professional sales representatives that cater to the needs of hospitals and ambulatory surgical centers across the country are currently representing BioDrain products. For additional information, please visit: www.biodrainmedical.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, 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.