MINNEAPOLIS, June 10, 2016 (GLOBE NEWSWIRE) -- Skyline Medical Inc. (NASDAQ:SKLN) (“Skyline” or “the Company”), producer of the FDA-approved STREAMWAY® System for automated, direct-to-drain medical fluid disposal, announces the signing of a reseller agreement granting MUNRO Enterprises LLC certain exclusive rights to market and distribute the STREAMWAY® System to the U.S. federal government including U.S. Department of Veterans Affairs, U.S. Department of Defense and U.S. Health and Human Services facilities, among others. MUNRO Enterprises is an Economically-Disadvantaged, Woman-Owned Small Business (EDWOSB).
“This new partnership allows us to leverage MUNRO’s special consideration to accelerate sales of the STREAMWAY System to the federal government,” said Dave Johnson, chief operating officer of Skyline Medical. “The leadership of MUNRO Enterprises has more than 20 years of experience helping companies to navigate the myriad of regulations associated with government purchasing offices across the country and in U.S. territories. In addition, the introduction of STREAMWAY Systems into facilities such as VA Hospitals offers healthcare practitioners a safer method for disposing of waste fluids collected from medical procedures. We look forward to working closely with MUNRO Enterprises and spreading awareness of our state-of-the-art method for medical fluid disposal to an important new customer.”
“The STREAMWAY System offers compelling benefits to healthcare professionals, patients and facilities alike, and we are delighted to be engaged to help Skyline Medical access the federal market,” said Julia Munro, president and chief executive officer of MUNRO Enterprises. “The FDA-approved STREAMWAY System improves patient and staff safety, lowers total costs, reduces medical waste and supports compliance with Veterans Health Administration Directives for medical waste management. STREAMWAY can help hospitals minimize waste handling and save money, two areas that are receiving so much scrutiny by the federal government. We expect that this will be a very successful collaboration, and we applaud Skyline for its progressive and proactive approach in providing us with this opportunity,” Ms. Munro added.
About MUNRO Enterprises
MUNRO Enterprises was formed through the 2015 merger of BTT Global Services and AM Munro & Associates. It is an Economically-Disadvantaged, Woman-Owned Small Business (EDWOSB) focused on serving agencies, companies and institutions in the Federal marketplace.
About the STREAMWAY System
Skyline Medical'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, and minimizes human intervention for better safety while improving compliance with Occupational Safety and Health Association (OSHA) and other regulatory agency safety guidelines. It also provides unlimited capacity for increased efficiency in the operating room, which leads to greater profitability. The STREAMWAY eliminates canisters to reduce overhead costs and provides greater environmental stewardship by helping to eliminate the approximately 50 million potentially disease-infected canisters that go into landfills annually in the U.S.
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 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; 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: Investors LHA Kim Sutton Golodetz (212) 838-3777 firstname.lastname@example.org
Source:Skyline Medical Inc.