BIOR News .05 BioDrain Medical, Inc. Implements Initiatives to Position Itself for Sustained Growth

2012-06-13 09:17 ET - News Release

MINNEAPOLIS, June 13, 2012 /PRNewswire/ -- BioDrain Medical, Inc. (OTCBB: BIOR, OTCQB: BIOR), producer of the FDA-cleared automated surgical fluid disposal device, the STREAMWAY® System, announced today that under new management it has implemented several initiatives to better position the Company for future growth.

"We are continuing to build an infrastructure that we believe will facilitate and support the rapid sale of STREAMWAY Systems to operating rooms across the U.S.," said Joshua Kornberg, President and Chief Executive Officer of BioDrain. "In particular, we recently enhanced the present design of the STREAMWAY System to increase suction capacity as well as improve overall efficiency. We also established several new relationships with cost-effective manufacturers and distributors to help improve our margins. Moreover, our team is diligently working to create unique marketing programs with additional sales teams and independent contract sales forces throughout the nation."

Helping head BioDrain's sales initiatives is Philip Posa, who was appointed as the Company's Vice President of Sales and Marketing in April 2012, and has over 28 years of experience in the pharmaceutical and diagnostic industry with Abbott Laboratories. BioDrain believes that Mr. Posa's expertise in negotiating contracts with independent sales representative groups and distributors will be invaluable in establishing STREAMWAY Systems in additional hospitals and surgery centers.