Skyline Medical Announces Two New Trials of the STREAMWAY(R) System
MINNEAPOLIS, MN -- (Marketwired) -- 06/18/14 --
Skyline Medical Inc. (OTCQB: SKLN) today announced that two new trials of the STREAMWAY Fluid Waste Management System are underway in North Carolina and California. Brier Creek Ambulatory Surgery Center, affiliated with the Duke Health Care System, and located in Raleigh, North Carolina, is in the process of validating the STREAMWAY Fluid Management System for endoscopic procedures. Additionally, Beverly Hospital, affiliated with the Adventist Health System, and located in Montebello, California, is conducting a trial in
its radiology department.
"We are finding that the higher rates of minimally invasive endoscopic procedures, driven by an aging population, are leading medical facilities to explore ways to reduce healthcare costs and maximize the value of endoscopy departments," said Josh Kornberg, CEO. "We are pleased that Brier Creek Ambulatory Surgery Center has chosen to trial the latest model of the STREAMWAY System, which features state-of-the-art technology designed to dispose of surgical fluid waste safely, without exposing medical professionals to infectious waste."
Kornberg continued, "The STREAMWAY System is also a great option for Radiology departments, which typically use glass evacuation bottles and plastic canisters for fluid collection and disposal. These types of procedures use a very high number of canisters for just one procedure, which is very inefficient. The STREAMWAY System requires less time and expense than these traditional fluid disposal methods and we are delighted that this trial will enable the staff at Beverly Hospital to experience firsthand the benefits of using the STREAMWAY System."
"Radiology and endoscopy departments are two of our key target markets and we continue to remain focused on growing our profile in these areas throughout 2014," Kornberg concluded.
These new trials are in addition to the previously disclosed 55 STREAMWAY units already scheduled for sale or trial in the first part of 2014.
About Skyline Medical Inc. Skyline Medical Inc. produces a fully automated, patented, FDA-cleared, waste fluid disposal system that virtually eliminates staff exposure to blood, irrigation fluid and other potentially infectious fluids found in the healthcare environment. Antiquated manual fluid handling methods -- which require hand carrying and emptying filled-fluid canisters -- present an exposure risk and potential liability. Skyline Medical's STREAMWAY System fully automates the collection, measurement and disposal of waste fluids and is designed to: 1) reduce overhead costs to hospitals and surgical centers, 2) improve compliance with Occupational State and Health Association (OSHA) and other regulatory agency safety guidelines, 3) improve efficiency in the operating room,
and radiology and endoscopy departments -- leading to greater profitability, and 4) provide greater environmental stewardship by helping to eliminate the approximately 50 million potentially disease-infected canisters that go into landfills annually in the United States. For additional information, please visit: www.skylinemedical.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, inability to raise sufficient additional capital to operate our business; approximately $2.7 million in debts, liabilities and cash obligations that become due over the next twelve months; 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; 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, and subsequent reports and other filings at www.sec.gov.
Skyline Investor Relations Contacts: Phil Carlson / Elizabeth Barker KCSA Strategic Communications
212-896-1233 / 212-896-1203 skyline@kcsa.com
