SOURCE: BioDrain Medical Inc.

BioDrain Medical Inc.

August 08, 2011 08:00 ET

BioDrain Medical Continues Sales and Marketing Expansion

Converts an Early Surgery Center Beta Site of Its Streamway® System to Purchase Order; Appoints Former Abbott Laboratories Sales Executive as New England Area Sales Consultant

MINNEAPOLIS, MN--(Marketwire - Aug 8, 2011) - BioDrain Medical, Inc. (OTCBB: BIOR) (OTCQB: BIOR), producer of the FDA cleared Streamway® System for automated surgical fluid disposal, today announced that as part of its overall plan to cover the entire country with experienced independent sales representatives, it has appointed Philip Posa, a former Abbott Laboratories sales executive, as its New England Area Sales Consultant.

Kevin Davidson, CEO of BioDrain Medical, Inc., stated, "We are intent on creating an infrastructure that will both facilitate and support the rapid sale and placement of our Streamway® System in operating rooms across the country. As part of that effort, we are pleased to announce the appointment of Philip Posa as our New England Area Sales Consultant."

Mr. Davidson declared, "Phil brings to us over 29 years of direct sales and sales management experience with Abbott Laboratories. He will be covering the New England area as well as assisting with our independent sales organizations, bringing to 12 the number of states we cover with independent sales rep organizations. These rep groups bring with them extensive existing hospital and hospital buying organizations as clients. We are confident that the rapid growth in our sales' representation structure will therefore be followed by a commensurate booking of purchase orders of the Streamway System."

Davidson continued, "Our rapid growth into commercialization is also exemplified by our most recent purchase order from a Twin Cities based surgery center. Well over a year ago, we performed several surgeries while beta testing our device at the surgery center. Recently, we revisited the hospital with our commercialized Streamway® System for live surgery evaluation and we were issued a purchase order shortly thereafter. With the assistance of our newly expanded sales rep force we are exponentially increasing our ability to demonstrate our now commercialized unit. We therefore expect that as hospitals and surgical centers discover the safety and efficiency of the Streamway® System's continuous, automated and cost effective process, a corresponding conversion of these demonstrations into purchase orders will take place."

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 related 8-K filings.

Contact Information

  • Investor Relations Contact:
    Stanley Wunderlich
    Consulting for Strategic Growth 1 Ltd.
    Tel: 800-625-2236 ext. 7770
    Email: Email Contact