MINNEAPOLIS, MN--(Marketwire - October 25, 2011) -
BioDrain Medical, Inc. (OTCBB: BIOR
) (OTCQB: BIOR
), producer of the FDA-cleared STREAMWAY System for automated surgical fluid disposal, announced today that it has completed the installation of its patented STREAMWAY System at a prestigious surgery center located in Southern Florida. In addition, BioDrain has further strengthened its intellectual property portfolio with a Notice of Allowance for the Company's Divisional Patent Application as notified by the United States Patent Trademark Office (USPTO). The Divisional Patent is expected to issue in the coming quarter.
Kevin Davidson, Chief Executive Officer of BioDrain, commented on the recent accomplishments, stating, "Our latest installation is yet another significant step for BioDrain Medical as it opens the door to a number of opportunities within Florida and other markets. This surgery center is part of a much larger group of surgery centers that have demonstrated a shared commitment to promoting safety and efficiency in the surgical environment. We believe once this surgical group recognizes how effectively our system meets their needs while reducing operational costs, we will access further opportunities to install systems throughout their additional surgery centers."
Davidson continued, "While we remain committed to demonstrating the value of our automated surgical fluid disposal system to surgical centers across the country and increasing our sales, we continuously work to enhance our products and the technologies making the STREAMWAY system unique within our market space. To this end, we are pleased to receive another Notice of Allowance from the USPTO for a Divisional Patent which further strengthens our intellectual property portfolio. Our patented technologies will lead to new opportunities for growth in the future."
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 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 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. 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.