Biodrain Medical Inc (BIOR) wins new contract, stock leaps

Posted on: Monday, July 11th, 2011
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Biodrain Medical Inc (OTCBB: BIOR) shares spiked 147.1% to 84 cents Monday, after attaining a new contract with a major East Coast hospital. Volume for the stock was 272,180 shares, compared to a daily average of just over 48,000.

The company, based in Minneapolis and the producer of the FDA-cleared Streamway® System for automated surgical fluid disposal, announced in a news release July 11 it has received a purchase order for multiple units of the Streamway System from the facility.

The order, to be delivered within the next 10 weeks, is a revenue-generating opportunity for both the near-term and longer-term, given the significant consumable revenues attributable to the purchase of each Streamway unit.

BioDrain CEO Kevin Davidson, was quoted thus in the same release, “We are very excited about this multi-unit purchase order that totals approximately $90,000. The fact that these units have been ordered demonstrates the strength of the early adoption trend for our product. Medical personnel are rapidly recognizing that the Streamway System meets an urgent need for safety and efficiency in surgical settings around the country.”

BioDrain Medical, Inc. has a fully automated, patented, FDA cleared, surgical fluid disposal system that virtually eliminates operating room workers’ exposure to blood, irrigation fluid and the related germs, viruses and diseases that are potentially found in the surgical environment.

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Category: Healthcare, OTCBB
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