Skyline Medical Projects 100 STREAMWAY System Sales in the U.S. in 2018
January 31 2018 - 8:30AM
Skyline Medical Inc. (NASDAQ:SKLN) (“Skyline” or the
“Company”), is pleased to announce that it currently projects sales
of approximately 100 STREAMWAY Systems in 2018. This projection is
based on ongoing negotiations with U.S.-based hospital chains and
medical clinics, as well as recent sales patterns. Sales
projections for 2018 are based on a combination of both projected
sales to its existing customer base as well as sales to new
clients.
These 2018 sales projections, which do not include potential
sales in Europe and Asia Pacific, if realized would represent a 10x
increase over the Company’s 2017 sales figures. In late 2017, the
Company ramped up its U.S. sales and marketing campaign for the
STREAMWAY system which resulted in a meaningful increase in
domestic sales in the fourth quarter of 2017 and early 2018.
“Over the past several months, we have increased our sales
efforts significantly, which has opened doors to new customers as
well as strengthened our relationships with existing customers,”
commented Dr. Carl Schwartz, Chief Executive Officer of Skyline
Medical. “Our customer base includes several large hospital systems
that have utilized the STREAMWAY System in their ‘Centers of
Excellence’ and are using it as a model for medical waste
management best practices. These customers have stated their
intention to expand usage of the STREAMWAY throughout their
hospital networks, across a wide range of different procedure
rooms, providing us with a clear opportunity to generate
significant sales growth from our existing client base.
Furthermore, we are also encouraged by the new customer activity we
have seen so far in 2018 and project this momentum to continue
throughout the year as we progress with negotiations and grow our
sales pipeline.”
The Company has also made initial investments in its
international sales and marketing strategy by signing independent
distribution agreements in Australia, Canada and Switzerland,
opening a European Headquarters in Brussels, Belgium and by
appointing a new Vice President of International Sales.
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.
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.
In the fourth quarter of 2017, Skyline Medical announced its
intention to enter the precision medicine space through a strategic
partnership with and investment in Helomics Corporation. As of
February 1, 2018, the Company’s corporate name will be changed to
Precision Therapeutics.
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 the proposed joint ventures, including the need to
negotiate the definitive agreements for the joint ventures;
possible failure to realize anticipated benefits of the joint
ventures; and costs of providing funding to the joint ventures.
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; sales cycles that can
be longer than expected, resulting in delays in projected sales or
failure to make such sales; 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 and with
any strategic or joint venture 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 MedicalCarl Schwartz, Chief Executive
Officer(651) 389-4800cschwartz@skylinemedical.com
Investors KCSA Strategic CommunicationsElizabeth Barker (212)
896-1203 ebarker@kcsa.com
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