Skyline Medical Enters Innovative Technology Partnership with Intalere for STREAMWAY® System
September 05 2017 - 5:00PM
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 that the Company
has entered into an innovative technology partnership with Intalere
for the STREAMWAY System. Intalere is a professional supply chain
company offering a comprehensive suite of services to empower
healthcare providers to better manage their entire spend and
ultimately deliver superior care.
This contract includes STREAMWAY in Intalere’s
Innovation and New Technology category, indicating STREAMWAY
demonstrates unique capabilities compared to existing products on
contract or available in the market. Preferred pricing for more
than 90,000 Intalere members extends to 3,733 acute care hospitals,
3,715 ambulatory surgery centers and 175 hospital-based
physicians.
“This partnership with Intalere is very exciting
and is further validation of the STREAMWAY technology,” said Dr.
Carl Schwartz, chief executive officer of Skyline Medical.
“Intalere is an organization that is committed to discovering
appropriate innovative and new technology companies that are
interested in partnering with healthcare group purchasing
organizations to remain competitive in delivering optimal cost,
quality and clinical outcomes for its members. STREAMWAY continues
to be recognized for its unique advantages over other products in
the market, now for the benefit of Intalere members. As we work
towards expanding our presence and increasing sales around the
country, this partnership will continue to introduce new avenues to
reach member organizations as potential customers for
STREAMWAY.”
About Intalere
Intalere’s mission focuses on improving the
operational health of America’s healthcare providers by designing
tailored, smart solutions that deliver optimal cost, quality and
clinical outcomes. We strive to be the essential partner for
operational excellence in healthcare through customized solutions
that address customers’ individual needs. We assist our customers
in managing their entire spend, providing innovative technologies,
products and services, and leveraging the best practices of a
provider-led model. As Intalere draws on the power of our owner
Intermountain Healthcare’s nationally-recognized supply chain
expertise and leadership in technology, process improvement and
evidence-based clinical and business best practices, we are
uniquely positioned to be the innovation leader in the healthcare
industry. Visit www.intalere.com to learn more.
About the STREAMWAY System
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. As of June 30,
2017, Skyline Medical customers have installed 101 STREAMWAY
Systems in 52 facilities across 20 states, and in Canada.
The STREAMWAY minimizes human intervention for
better safety and improves compliance with Occupational Safety and
Health Administration (OSHA) and other regulatory agency safety
guidelines. It also provides unlimited capacity for increased
efficiency in the operating room, which leads to greater
profitability. Furthermore, 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. For a demonstration please visit
www.skylinemedical.com or call 855-785-8855.
About Skyline Medical
Skyline Medical 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 that 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, thereby
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 each year in the U.S. For additional information,
please visit www.skylinemedical.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 risks related to our proposed merger with
CytoBioscience, Inc., including the fact that we may not complete
the merger; we do not have complete information about
CytoBioscience, including audited financial statements; the
combined company will not be able to continue operating without
additional financing; possible failure to realize anticipated
benefits of the merger; costs associated with the merger may be
higher than expected; the merger may result in disruption of the
Company’s and CytoBioscience’s existing businesses, distraction of
management and diversion of resources; delay in completion of the
merger may significantly reduce the expected benefits; and the
market price of the Company’s common stock may decline as a result
of the merger. Other risks and uncertainties relating to the
Company 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.
Contacts:
Skyline Medical
Carl Schwartz, Chief Executive Officer
(651) 389-4800
cschwartz@skylinemedical.com
Investors
LHA Investor Relations
Kim Sutton Golodetz
(212) 838-3777
kgolodetz@lhai.com
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