MINNEAPOLIS, March 22, 2016 (GLOBE NEWSWIRE) -- Skyline Medical Inc. (NASDAQ:SKLN) (“Skyline” or the “Company”) secured the extensive sales and marketing capabilities of an independent distributor to support sales of Skyline’s FDA approved STREAMWAY System for automated, direct-to-drain medical waste disposal to medical centers in the southeastern U.S.
For more than 30 years, the independent distributor has been supplying surgical equipment and supplies to hospitals and medical centers. With a team of approximately 40 sales representatives, it is one of the largest distributors of medical equipment in the southeast. It is a key distributor for leading medical device and OEM manufacturers and has a track record of selling cutting edge medical technologies.
“We believe our ability to expand sales and increase the market penetration for the STREAMWAY System is purely based on getting the solution into the hands of our target customers, as it has proven to practically sell itself in customer trials,” said Josh Kornberg, CEO of Skyline Medical. “Our in-house sales force is already making excellent progress generating demand for the STREAMWAY System across multiple states in the mid-west. We are now working to form partnerships with independent distributors in new territories to aggressively expand our sales reach while maintaining control over costs.”
“Our latest partner has decades of experience distributing innovative, best-in-class medical technology to hospitals in the southeast United States on behalf of major surgical equipment manufacturers. As a result, its experienced team of approximately 40 sales reps has excellent relationships in the field which can be leveraged to get the STREAMWAY System ‘in the door’ at many surgical centers. We are excited by this development and look forward to additional distribution agreements, as well as the expansion of our in-house sales force as we move toward building a nationwide sales force,” concluded Mr. Kornberg.
The STREAMWAY System can be installed in any facility, eliminating costly medical waste disposal and all of the direct and indirect handling risks. As a result, the facility and its employees will not need to purchase, dispose of or handle surgical fluid canisters. The fully automated STREAMWAY System improves efficiency in the operating room and procedure room, leading to faster turnover times, a more productive staff and ultimately greater profitability.
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 Safety 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 Statement
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, current negative operating cash flows and a significant balance of debts, liabilities and cash obligations that are either considered past due or that will become due in calendar 2016; the terms of any further financing, which may be highly dilutive and may include onerous terms; the features of the Company’s Series A Warrants that include a cashless exercise feature that has the potential to be highly dilutive, and the existence of which may depress the price of our common stock regardless of the Company’s business performance; unexpected costs and operating deficits, and lower than expected sales and revenues; uncertain willingness and ability of customers to adopt new technologies and other factors that may affect further market acceptance, if our product is not accepted by our potential customers, it is unlikely that we will ever become profitable, 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.
Contact: Skyline Investor Relations Contacts: Garth Russell KCSA Strategic Communications 212-896-1250 firstname.lastname@example.org
Source:Skyline Medical Inc.