MINNEAPOLIS, March 14, 2012 /PRNewswire/ -- BioDrain
Medical, Inc. (OTCBB: BIOR, OTCQB: BIOR), producer of the FDA
cleared STREAMWAY System for automated surgical fluid disposal,
announced today that it has appointed Joshua Kornberg to the Company's Board of
Directors.
Kevin Davidson, Chief Executive
Officer of BioDrain, commented, "We are thrilled to bring Josh
onboard. As cofounder of Atlantic Partners Alliance, a healthcare
and biotechnology fund dedicated to bridge financing of companies
in search of short-term capital, Josh brings to our Board an
excellent understanding of how to help an early stage company
progress. We are confident that his consulting expertise in regards
to sales, marketing, and strategic development, as well as in
technical strategies such as regulatory adherence, clinical staging
and product evaluation, will be extremely valuable in building out
our operations and increasing awareness in the medical device
community of the benefits of our unique STREAMWAY System."
Mr. Kornberg is also President and founding partner of GPF, a
private equity fund based in New
York. Prior to founding GPF, Mr. Kornberg served as Chief
Investment Officer of The Lightstone Group, a national private
equity firm, and Director of the Lightstone Value Plus REIT, a
public company focused on commercial real estate. Additionally,
Mr. Kornberg served as Director of Acquisitions and
Development at ARK Realty Investors, a real estate investment and
development firm. He also worked in the capital markets group at
Morgan Stanley and served as Vice President at The RREEF Funds, a
leading global pension fund advisor.
About BioDrain Medical, Inc.
BioDrain Medical, Inc. has a fully automated, patented and 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. Current 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
however 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 presents a sustainable solution to
fluid disposal in operating rooms. Presently, around 50 million
bloody, potentially disease infected canisters go to landfills in
the United States annually.
Moreover, these tainted canisters can remain in landfills for
years. With the installation of BioDrain's STREAMWAY System, the
number of these canisters can be significantly reduced, making both
the operating room and our environment safer and cleaner.
Independent professional sales representatives that cater to the
needs of hospitals and ambulatory surgical centers across the
country are currently representing BioDrain products. 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 Relations Contact:
Mr. Kevin Fickle, President
NUWA Group LLC
Tel: +1-925-330-8315
Email: kevin@nuwagroup.com
Or
Stanley Wunderlich
Consulting for Strategic Growth 1 Ltd.
Tel: 800-625-2236 ext. 7770
Email: info@cfsg1.com
SOURCE BioDrain Medical, Inc.