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MINNEAPOLIS, Oct. 02, 2019 (GLOBE NEWSWIRE) -- Predictive Oncology Inc. (NASDAQ: POAI), today announced that its Skyline Medical division, producer of the FDA-approved and CE-marked STREAMWAY® System for automated, direct-to-drain medical fluid disposal, has completed the sale of ten systems to the foremost teaching and research hospital in upstate New York. According to U.S. News and World Report, the 800+ bed hospital has among the best clinical programs in the country. The sale surpasses the company’s largest single hospital sale to date and is expected to generate 6000 procedures annually.
Skyline Medical’s patented, FDA-approved STREAMWAY System is the first truly continuous, direct-to-drain fluid disposal system designed specifically for medical applications such as radiology, endoscopy, surgery, urology, and cystoscopy procedures. The system has revolutionized the way healthcare facilities handle potentially infectious waste by connecting directly to facilities’ plumbing systems in order to automate the collection, measurement, and disposal of waste fluids. This minimizes human intervention, creating a safer system with improved compliancy with Occupational Safety and Health Administration (OSHA) and other regulatory agency safety guidelines (http://nnw.fm/oaC78).
Additionally, by eliminating plastic waste in the form of canisters and evacuated bottles, the STREAMWAY System reduces overhead costs and minimizes environmental impact, eliminating the approximately 50 million potentially disease-infected canisters that wind up in landfills each year in the United States (http://nnw.fm/oQQ8d).
About Predictive Oncology Inc.
Predictive Oncology Inc. (NASDAQ: POAI) operates in two business areas: first, applying artificial intelligence to personalized medicine and drug discovery to provide personalized medicine solutions for patients and clinicians as well as clients in the pharmaceutical, diagnostic, and biotech industries, and second, production of the FDA-approved STREAMWAY® System for automated, direct-to-drain medical fluid disposal.
Certain of the matters discussed in the press release 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 (i) risks related to the recent merger with Helomics, including the fact that the combined company will not be able to continue operating without additional financing; possible failure to realize anticipated benefits of the merger; costs associated with the merger may be higher than expected; the merger may result in disruption of the Company’s and Helomics’ existing businesses, distraction of management and diversion of resources; and the market price of the Company’s common stock may decline as a result of the merger; (ii) 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; and (iii) other risks and uncertainties relating to the Company that 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; Predictive Oncology’s ability to implement its long range business plan for various applications of its technology; Predictive Oncology’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 Predictive Oncology’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 SEC, 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 Predictive Oncology’s financial position. See Predictive Oncology’s most recent Annual Report on Form 10-K, and subsequent reports and other filings at www.sec.gov.
Bob Myers, Predictive Oncology Inc.
Source: Predictive Oncology Inc.