BIOR News BioDrain Medical Inc. Signs Additional I

BIOR News BioDrain Medical Inc. Signs Additional Independent Distribution Agreements, Strengthening Nationwide Presence

2012-07-20 08:30 ET - News Release

MINNEAPOLIS, July 20, 2012 /PRNewswire/ -- BioDrain Medical Inc. (OTCBB: BIOR, OTCQB: BIOR) ("BioDrain"), producer of the FDA-cleared automated surgical fluid disposal device, the STREAMWAY® System, announced today that it has signed several new agreements with independent distributors and is in discussions regarding potential contracts with other independent distributors.

The addition of these recently signed agreements with independent distribution partners is intended to broaden BioDrain's geographical distribution coverage from a few states to approximately 50% of the U.S., according to Joshua Kornberg, President and CEO of BioDrain. He noted that while BioDrain continues to work towards signing agreements with other independent distributor groups, potential national sales partners have expressed strong interest in BioDrain's STREAMWAY System as well.

"Several potential national sales partners, each with between 1000-2000 sales representatives, have expressed strong interest in our product and we are pleased that that our negotiations with these potential sales partners are underway," said Mr. Kornberg. "The representatives of the distributor groups with which we have signed agreements have met BioDrain's criteria for distribution partnership, including a history of successfully selling multiple product lines in either Orthopedics or Surgery, a satisfactory representative-to-customer ratio, and, we believe, a readiness to successfully launch the STREAMWAY System as BioDrain's partners."