Skyline Medical (NASDAQ: SKLN) shares are up 43% after the company announced it has received an Innovative Technology contract from Vizient, Inc. for its FDA-approved STREAMWAY® System for automated, direct-to-drain medical fluid disposal. Vizient is the largest, member-driven health care performance improvement company in the country with an annual purchasing volume of almost $100 billion. Hospital experts with expertise in this category who serve on one of Vizient’s member-led councils recommended STREAMWAY, which resulted in the contract. Innovative Technology contracts are reserved for technologies that demonstrate an ability to enhance clinical care or patient safety while improving an organization’s care delivery and business model. “We are delighted that STREAMWAY has been awarded the Innovative Technology contract, which will provide new avenues to reach member organizations as potential customers for STREAMWAY,” Skyline Medical CEO Dr. Carl Schwartz stated in the news release.
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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.
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