Precision Therapeutics Announces Record STREAMWAY® System Sales in the First Three Months of 2018
This ramp in sales is due to the Company’s refocused sales and marketing campaign, which included the hiring of key sales personnel, increased participation at major industry conferences and an awareness campaign related to its disposable products. The Company continues to project a total of 100 STREAMWAY System sales in 2018, as announced in its press release dated
Dr. Schwartz continued, “We are encouraged by this sales momentum and expect it to build throughout the remainder of 2018. The majority of our sales have been in interventional radiology, where the STREAMWAY System is revolutionizing paracentesis and thoracentesis procedures by eliminating the need for evacuated bottles and canisters. We are in advanced discussions with potential customers and believe there is significant room for us to grow our market reach in endoscopy, urology and cystoscopy rooms.”
The Company has also made initial investments in its international sales and marketing strategy by signing independent distribution agreements in
Dr. Schwartz concluded, “Building out our sales infrastructure in key international markets expands our potential customer base significantly. We believe our solution is well-suited to the European market, where the importance of the proper management of infectious health-care waste in order to minimize risks to the environment and healthcare staff is well-recognized. We are working hard to establish our presence in this market, and in
The STREAMWAY System has been approved to be marketed in
About the STREAMWAY System
Produced by Skyline Medical, a division of
The STREAMWAY minimizes human intervention for better safety and improves compliance with
About Precision Therapeutics Inc.
Sold through the Skyline Medical business of Precision Therapeutics, The STREAMWAY System 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.
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 partnerships with other companies, including the need to negotiate the definitive agreements; possible failure to realize anticipated benefits of these partnerships; and costs of providing funding to our partner companies, which may never be repaid or provide anticipated returns. 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.
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Source: Precision Therapeutics Inc.