Skyline Medical (Formerly Known as BioDrain Medical, Inc.)'s STREAMWAY® System Selected as Top Contender in LifeScience Alley's New Technology Showcase
Published: Sep 30, 2013
MINNEAPOLIS, Sept. 27, 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, has been selected as one of only 10 companies in the running for the opportunity to showcase its product to the 2013 LifeScience Alley Conference on November 20, 2013 in Minneapolis, Minn. The opportunity for Skyline Medical to prominently exhibit its flagship technology will help generate additional awareness among the life science and healthcare companies in attendance.
LifeScience Ally's annual conference recognizes that life science industries are working to adapt to and survive the national and global healthcare transformation. The conference gathers life science leaders from more than 450 companies, 24 states and 10 countries to hear industry thought leaders discuss the far-reaching impacts of the healthcare transformation and emerging new business models.
"The STREAMWAY System is the ideal solution for fluid waste management, and 2013 has been an incredibly successful year for us. Not only have we penned multiple installation deals across the United States, we are now established as the go-to solution in the industry and are taking a significant amount of market share from a major competitor," said Josh Kornberg, CEO of Skyline Medical.
Kornberg continued, "It's an honor to be considered one of the top new technologies at this year's LifeScience Alley conference. We hope to make it into the top three, so we can present the STREAMWAY System to all of the conference attendees and generate even more awareness about the benefits of our solution from its environmental advantages and ease of use to how much safer it will keep hospital and surgical center personnel."
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 hospital's existing drain and vacuum system.
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
SOURCE Skyline Medical Inc.
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