BioDrain Expands Presence in Northeast, Installs STREAMWAY® System at Ambulatory Surgery Center in New Jersey Company Sees Significant Increase in Interest due to Successful Trials
MINNEAPOLIS, April 25, 2013 /PRNewswire/ -- BioDrain Medical, Inc. (OTCQB: BIOR) (the "Company"), producer of the FDA approved STREAMWAY® System for automated, direct-to-drain surgical fluid disposal that reduces the risk of exposure to hazardous waste, announced today that after a successful trial, the Company has installed its STREAMWAY® System at the North Jersey Center for Surgery. In addition to this installation, BioDrain has obtained introductions to The New Jersey Association of Ambulatory Surgery Centers as well as several local hospitals, effectively expanding awareness of the Company's STREAMWAY® System in the Northeast.
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.
This sale to the North Jersey Center for Surgery was a result of a successful trial. Currently, there are several additional trials running in hospitals throughout the United States. The Company anticipates seeking international expansion later this year.
"We are experiencing a rapid uptick in awareness and demand for our flagship technology, the STREAMWAY® System, and the North Jersey Center for Surgery installation is one of several we expect to successfully install in the coming months," said Josh Kornberg, Chief Executive Officer at BioDrain Medical. "Currently, there is a gap in the market due to a recall of our competitor's product, and as such, hospitals and healthcare groups are proactively looking for a reliable and cost-effective solution for their fluid management requirements."
Kornberg continued, "The STREAMWAY® System addresses a number of important healthcare issues: it reduces overhead costs to hospitals and surgical centers, streamlines the efficiency of the operating room making surgeries more profitable and saves healthcare personnel time, energy and the fear of contracting an infectious disease from the far less sterile and more difficult to use fluid disposal canisters. This product meets a very real need in the market today and we look forward to expanding into more hospitals and surgical centers throughout 2013."
About BioDrain Medical
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 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).
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.'s STREAMWAY® System is designed to make 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, 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 BioDrain Medical, Inc.