MINNEAPOLIS, Nov. 22, 2016 (GLOBE NEWSWIRE) -- Skyline Medical Inc. (NASDAQ:SKLN) (“Skyline” or
“the Company”), producer of the FDA-approved STREAMWAY® System for automated, direct-to-drain medical fluid disposal, announces
that it has received a Medical Device Establishment License to sell the STREAMWAY System and related disposables in Canada.
A number of distributors have expressed interest in selling STREAMWAY into Canada’s healthcare system.
Skyline has now begun talks with several of them and expects within the next few weeks to come to terms with one or more
distributors, covering approximately 1,500 hospitals in all 13 provinces of Canada.
“We look forward to bringing the STREAMWAY System and its many benefits to healthcare professionals and
facilities to the approximately 10,000 operating rooms across Canada,” said Dr. Carl Schwartz, executive chairman of Skyline
Medical. “This approval follows receipt of ISO 13485:2003 certification for the STREAMWAY System, which not only was a requirement
for Canadian approval, but is necessary for the CE Mark and subsequent sales in the European Union. We are pleased to reach this
important milestone in our plans for broader distribution of the STREAMWAY System.”
About the STREAMWAY System
Skyline's revolutionary, FDA-cleared STREAMWAY system is the first true direct-to-drain fluid disposal system
designed specifically for medical applications, such as radiology, endoscopy, urology and cystoscopy procedures. It connects
directly to a facility's plumbing system to automate the collection, measurement and disposal of waste fluids. As of
September 30, 2016, Skyline Medical customers have installed 96 STREAMWAY systems in 50 facilities across 19 states.
The STREAMWAY minimizes human intervention for better safety and improves compliance with Occupational Safety
and Health Administration (OSHA) and other regulatory agency safety guidelines. It also provides unlimited capacity for increased
efficiency in the operating room, which leads to greater profitability. Furthermore, the STREAMWAY eliminates canisters to reduce
overhead costs and provides greater environmental stewardship by helping to eliminate the approximately 50 million potentially
disease-infected canisters that go into landfills annually in the U.S. For a demonstration please visit www.skylinemedical.com or call 855-785-8855.
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, 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; 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; the potential
delisting of the Company’s common stock on The Nasdaq Capital Market as a result of the Company’s failures to comply with listing
standards, in which case the liquidity of our common stock would likely be impaired and there would likely be a reduction in our
coverage by security analysts and the news media, thereby resulting in lower prices for our common stock than might otherwise
prevail; 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, including the possibility that the development of applicable technologies by GLG
Pharma, LLC will be delayed, will not occur or will not receive applicable regulatory approvals on a timely basis; the Company’s
ability to consummate its joint venture with Electronic On-Ramp, Inc.; 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,
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.
Contact: Investors LHA Kim Sutton Golodetz (212) 838-3777 kgolodetz@lhai.com