MINNEAPOLIS, Jan. 31, 2018 (GLOBE NEWSWIRE) -- Skyline Medical Inc. (NASDAQ:SKLN) (“Skyline” or the “Company”), is pleased to announce
that it currently projects sales of approximately 100 STREAMWAY Systems in 2018. This projection is based on ongoing negotiations
with U.S.-based hospital chains and medical clinics, as well as recent sales patterns. Sales projections for 2018 are based on a
combination of both projected sales to its existing customer base as well as sales to new clients.
These 2018 sales projections, which do not include potential sales in Europe and Asia Pacific, if realized would represent a 10x
increase over the Company’s 2017 sales figures. In late 2017, the Company ramped up its U.S. sales and marketing campaign for the
STREAMWAY system which resulted in a meaningful increase in domestic sales in the fourth quarter of 2017 and early 2018.
“Over the past several months, we have increased our sales efforts significantly, which has opened doors to new customers as
well as strengthened our relationships with existing customers,” commented Dr. Carl Schwartz, Chief Executive Officer of Skyline
Medical. “Our customer base includes several large hospital systems that have utilized the STREAMWAY System in their ‘Centers of
Excellence’ and are using it as a model for medical waste management best practices. These customers have stated their intention to
expand usage of the STREAMWAY throughout their hospital networks, across a wide range of different procedure rooms, providing us
with a clear opportunity to generate significant sales growth from our existing client base. Furthermore, we are also encouraged by
the new customer activity we have seen so far in 2018 and project this momentum to continue throughout the year as we progress with
negotiations and grow our sales pipeline.”
The Company has also made initial investments in its international sales and marketing strategy by signing independent
distribution agreements in Australia, Canada and Switzerland, opening a European Headquarters in Brussels, Belgium and by
appointing a new Vice President of International Sales.
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.
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.
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.
In the fourth quarter of 2017, Skyline Medical announced its intention to enter the precision medicine space through a strategic
partnership with and investment in Helomics Corporation. As of February 1, 2018, the Company’s corporate name will be changed to
Precision Therapeutics.
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 risks related to the proposed joint ventures, including the need to negotiate the
definitive agreements for the joint ventures; possible failure to realize anticipated benefits of the joint ventures; and costs of
providing funding to the joint ventures. 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.
Contacts:
Skyline Medical
Carl Schwartz, Chief Executive Officer
(651) 389-4800
cschwartz@skylinemedical.com
Investors
KCSA Strategic Communications
Elizabeth Barker
(212) 896-1203
ebarker@kcsa.com