MINNEAPOLIS, July 20, 2012 /PRNewswire/ -- BioDrain Medical
Inc. (OTCBB: BIOR, OTCQB: BIOR) ("BioDrain"), producer of the
FDA-cleared automated surgical fluid disposal device, the
STREAMWAY® System, announced today that it has signed several new
agreements with independent distributors and is in discussions
regarding potential contracts with other independent
distributors.
The addition of these recently signed agreements with
independent distribution partners is intended to broaden BioDrain's
geographical distribution coverage from a few states to
approximately 50% of the U.S., according to Joshua Kornberg, President and CEO of BioDrain.
He noted that while BioDrain continues to work towards signing
agreements with other independent distributor groups, potential
national sales partners have expressed strong interest in
BioDrain's STREAMWAY System as well.
"Several potential national sales partners, each with between
1000-2000 sales representatives, have expressed strong interest in
our product and we are pleased that that our negotiations with
these potential sales partners are underway," said Mr. Kornberg.
"The representatives of the distributor groups with which we have
signed agreements have met BioDrain's criteria for distribution
partnership, including a history of successfully selling multiple
product lines in either Orthopedics or Surgery, a satisfactory
representative-to-customer ratio, and, we believe, a readiness to
successfully launch the STREAMWAY System as BioDrain's
partners."
Mr. Kornberg continued, "While we strive to establish
partnerships with national sales forces and more independent
distributors, our in-house sales department continues to uncover
leads and seeks to drive sales independently of our distributor
covered states, and we are also dedicating additional resources
towards national sales conventions and journal advertising. We
believe we have a superior technology compared to leading
canister-based competitors, and with increases in our resourcing
capabilities and our sales representation, we believe that we will
be in a much better position to capture a sizeable share of the
market in the near future."
About BioDrain Medical, Inc.
BioDrain Medical, Inc. has a fully automated, patented,
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. Today's 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 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 is eco-friendly as it contributes to
cleaning up the environment. Currently, approximately 50 million
bloody, potentially disease infected canisters go to landfills
annually in the United States.
These tainted canisters can remain in landfills for years to come.
With the installation of BioDrain's STREAMWAY System, the number of
canisters can be significantly reduced. BioDrain Medical Inc. makes
the operating room and our environment safer, cleaner, and better.
BioDrain products are currently being represented by independent
professional sales representatives that cater to the needs of
hospitals and ambulatory surgical centers across the country. 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 8-K filings since then.
Investor Contact:
Mr. Kevin Fickle,
President
NUWA Group LLC
Tel:
+1-925-330-8315
Email: kevin@nuwagroup.com
SOURCE BioDrain Medical Inc.