MINNEAPOLIS, June 13, 2012 /PRNewswire/ -- BioDrain
Medical, Inc. (OTCBB: BIOR, OTCQB: BIOR), producer of the
FDA-cleared automated surgical fluid disposal device, the
STREAMWAY® System, announced today that under new management it has
implemented several initiatives to better position the Company for
future growth.
"We are continuing to build an infrastructure that we believe
will facilitate and support the rapid sale of STREAMWAY Systems to
operating rooms across the U.S.," said Joshua Kornberg, President and Chief Executive
Officer of BioDrain. "In particular, we recently enhanced the
present design of the STREAMWAY System to increase suction capacity
as well as improve overall efficiency. We also established several
new relationships with cost-effective manufacturers and
distributors to help improve our margins. Moreover, our team is
diligently working to create unique marketing programs with
additional sales teams and independent contract sales forces
throughout the nation."
Helping head BioDrain's sales initiatives is Philip Posa, who was appointed as the Company's
Vice President of Sales and Marketing in April 2012, and has over 28 years of experience
in the pharmaceutical and diagnostic industry with Abbott
Laboratories. BioDrain believes that Mr. Posa's expertise in
negotiating contracts with independent sales representative groups
and distributors will be invaluable in establishing STREAMWAY
Systems in additional hospitals and surgery centers.
"Our goal is to build a best in class national sales force
through established independent sales rep groups, several of which
we have already started training," said Mr. Posa. "We are also
making a concerted effort to gain access to a significant number of
hospitals and surgical centers through one or more Group Purchasing
Organizations. In providing unlimited surgical fluid disposal
capacity, STREAMWAY reduces overhead costs to hospitals and
surgical centers, increases compliance rates with the Occupational
State and Health Association and other regulatory agencies, and
improves efficiency in the operating room. We are confident that we
have a superior technology that provides a substantial benefit to
our customers."
Further supplementing BioDrain's management team is David Johnson and Bob
Myers, whom were recently named the Company's Acting Chief
Operating Officer and Chief Financial Officer, respectively. Mr.
Johnson has over 35 years of experience in executive, operations
and management training positions in rapid growth medical device
organizations, directing growth domestically and internationally
with products ranging from consumer based disposable commodity
items to class III implantable devices. Mr. Myers, formerly a
public accountant with the international firm Laventhol &
Horwath, has over 30 years of experience in multiple industries
focusing on medical device, service and manufacturing.
"As CEO, and a stockholder of BioDrain, I am very mindful of
enhancing long-term shareholder value, and I believe that we now
have the right people and strategies in place to drive our
recurring revenue model and in effect, better reward BioDrain whom
stay the course," added Mr. Kornberg. "By restructuring our
operations, we are now prepared to support and execute the
sales effort of STREAMWAY Systems on a larger scale. This is a very
unique, innovative, patented technology that is easy to install and
use, and provides hospitals with substantial safety, efficiency and
environmental benefits that we believe will have a significant
impact in the industry."
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.
Forward-looking Statements:
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.
Investor Contact:
Mr. Kevin Fickle, President
NUWA Group LLC
Tel:
+1-925-330-8315
Email: kevin@nuwagroup.com
SOURCE BioDrain Medical, Inc.