SOURCE: BioDrain Medical, Inc.

BioDrain Medical, Inc.

July 11, 2011 06:00 ET

BioDrain Medical Receives Multi-Unit Purchase Order From East Coast Based Hospital

Significant Recurring Revenue Expected From Sale of Associated Disposables

MINNEAPOLIS, MN--(Marketwire - Jul 11, 2011) - BioDrain Medical, Inc. (OTCBB: BIOR) (OTCQB: BIOR), producer of the FDA cleared Streamway® System for automated surgical fluid disposal, today announced it has received a purchase order for multiple units of the Streamway System from an East Coast-based hospital.

The order, to be delivered within the next ten weeks, is a revenue-generating opportunity for both the near-term and longer-term, given the significant consumable revenues attributable to the purchase of each Streamway unit.

Kevin Davidson, CEO of BioDrain, stated, "We are very excited about this multi-unit purchase order that totals approximately $90,000. The fact that these units have been ordered demonstrates the strength of the early adoption trend for our product. Medical personnel are rapidly recognizing that the Streamway System meets an urgent need for safety and efficiency in surgical settings around the country. The ease with which healthcare personnel can be trained to use the System, the efficiency of the automated disposal of surgical fluids, and the greatly reduced risk of exposure to hazardous waste, make the purchase of the Streamway System an obvious choice. With well over 300 live operative procedures performed, and our sales pipeline continuing to build, we remain very optimistic about the growth potential for BioDrain Medical."

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 the related germs, viruses and diseases that are potentially 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 more 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