SOURCE: Medovex Corporation

December 08, 2015 09:45 ET

Medovex Corporation Completes Multi-Unit Streamline IV Suspension System (ISS) Sale to Major Regional Hospital

ATLANTA, GA--(Marketwired - Dec 8, 2015) - Medovex Corp. (NASDAQ: MDVX), a developer of medical technology products, today announced that the Company has successfully completed a multi-unit sale of its Streamline® IV Suspension System (ISS) to a major regional hospital with approximately 1000 staffed beds.

The units are being sold in conjunction with the hospital's purchase of new Hill-Rom® Progressa® beds and will be used in the Cardiovascular Critical Care Units as well as their Cardiovascular Operating Rooms. The purchase followed the hospital seeing the ISS demonstrated at the Hill-Rom Customer Experience Center where they identified it as their new solution to address intra-hospital transportation safety.

Patrick Kullmann, Medovex President and COO stated, "According to Critical Care Medicine, there are roughly 100,000 critical care beds in US hospitals. Streamline's ISS technology serves a growing need for safety and efficiency for both patients and caregivers in the hospital setting. The product provides caregivers with a more efficient means of handling the growing amount of patient equipment that remains with patients as they move about a hospital. Transport is even more of a burden in these larger facilities from a logistic and frequency standpoint."

Kullmann went on to say, "We are pleased to announce today's first multi-unit ISS sale to a major regional hospital in the large Northeastern corridor of the U.S. market. This account is a significant flagship medical center facility, recognized both regionally and nationally. We believe the Streamline ISS market opportunity is highly scalable where it has the potential of becoming a de facto standard in the hospital bed market. Together with Hill-Rom, we look forward to continuing to work in concert to provide other major hospitals with an efficient and cost effective intra-hospital transportation solution."

Jarrett S. Gorlin, Medovex CEO concluded, "Importantly for Medovex, this sale with more anticipated to follow, marks the Company's progression towards its goal of generating sustainable revenue and cash flows. We believe it represents a pivot point for the adoption of the Streamline IV Suspension System."

The ISS is a unique and effective solution available for managing cumbersome IV poles with mounted IV infusion pumps or other equipment at the bedside and during intra-hospital patient transports. The Streamline ISS provides an easy-to-use technology platform that mounts the ISS to beds or stretchers in the hospital or other care facility.

New efficiencies benefit patients by reducing the risk and associated costs of workplace injuries and the time for transporting patients and equipment. In seconds, the ISS can go from an infusion stand to a suspended, securely locked part of beds or stretchers.

About Medovex

Medovex was formed to acquire and develop a diversified portfolio of potentially ground breaking medical technology products. Criteria for selection include those products with potential for significant improvement in the quality of patient care combined with cost effectiveness. The Company's first pipeline product, the DenerveX device, is intended to provide long lasting relief from pain associated with facet joint syndrome at significantly less cost than currently available options. To learn more about Medovex Corp., visit www.medovex.com

Safe Harbor Statement

Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward- looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

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    Jason Assad
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