MINNEAPOLIS, April 12, 2016 (GLOBE NEWSWIRE) -- Skyline Medical Inc. (NASDAQ:SKLN) has received overwhelmingly positive real-world cost savings and safety feedback for its flagship product, the STREAMWAY System®, from Tucson Medical Center’s (“TMC”) Radiology department, which was included in a case study issued earlier this month.
According to TMC, the STREAMWAY System allows their radiology department to lower waste fluid disposal costs per procedure by 77.6% to $24.00, an impressive decrease from the $107.10 TMC was spending on each procedure using evacuated bottles. As a result, TMC was able to report an ROI in the first nine months of utilizing the STREAMWAY System since being installed in 2015, and anticipates a cost savings for the 1 system currently installed of $22,140 annually.
Furthermore, aside from being extremely costly and detrimental to the environment, using disposable evacuated bottles exposes nurses and other staff to potentially infectious waste. By implementing the STREAMWAY System, TMC created both a safer and more efficient work environment.
Dan Felix, TMC Imaging Services Director, commented, “We chose the STREAMWAY System because it’s self-contained, extremely easy to use and, for us, had a return on investment of approximately nine months, with ongoing annual savings of $22,140 a year. That made it one of the easiest purchase requests I’ve ever had to make.”
Mr. Felix continued, “TMC uses the STREAMWAY System for roughly 80 percent of its paracentesis and thoracentesis procedures. The other 20 percent are either portables, where we have to do the procedure in the patient’s room because they can’t be moved, or for patients we see on a regular basis who have low volume and only require one bottle. Our break-even point is two bottles.”
Josh Kornberg, CEO of Skyline Medical, commented, “The real-world market data supplied to us through Tucson Medical Center for this case study will be an extremely valuable tool for our sales and marketing team. These results are in line with our expectations for a facility the size of TMC and we hope to build on this success in a broader way across more of their operations.”
“Our customers have installed 94 of our fluid management systems in 50 facilities across 19 states in a range of different surgical rooms where safety simply can’t be compromised – such as radiology, endoscopy and urology suites. We are delighted to see these medical centers like TMC experience the STREAMWAY’s full range of safety, cost and efficiency benefits,” concluded Mr. Kornberg.
Skyline’s revolutionary, FDA-cleared STREAMWAY system is the first true direct-to-drain fluid disposal system designed specifically for medical applications, such as radiology, endoscopy, urology and cystoscopy procedures. It connects directly to a facility’s plumbing system to automate the collection, measurement and disposal of waste fluids.
The STREAMWAY minimizes human intervention for improved safety and improved compliance with the Occupational Safety and Health Association (OSHA) and other regulatory agency safety guidelines. It also provides unlimited capacity for increased efficiency in the operating room — leading to greater profitability. Furthermore, the STREAMWAY eliminates canisters to reduce overhead costs. It also provides greater environmental stewardship by helping to eliminate the approximately 50 million potentially disease-infected canisters that go into landfills annually in the United States.
To request a demo please visit skylinemedical.com or call 855.785.8855.
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.
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 need for additional funding to finance our operating plan; 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. See the Company's most recent Annual Report on Form 10-K, and subsequent reports and other filings at www.sec.gov.
Investor and Media Contact: Garth Russell KCSA Strategic Communications P: 212-896-1250 email@example.com
Source:Skyline Medical Inc.