For every healthcare facility, particularly hospitals and surgical centers, disposal of waste fluids presents a unique set of challenges related not only to regulations but also staff safety. Improper disposal can result in hefty fines and possibly risk exposure to infectious fluids. For the most part, the legacy technology of draining fluid into a canister is the hospital standard, making the industry ripe for innovation. After a year of the coronavirus pandemic leading to postponements of countless elective surgeries, Skyline Medical, a division of Predictive Oncology (NASDAQ: POAI), looks to have well-timed renewing development of its new Generation 3 STREAMWAY(R) System for direct-to-drain fluid waste management.
According to analysts at MarketsandMarkets, the fluid management systems and accessories market is projected to reach $16.1 billion in 2025 from $8.5 billion in 2020, expanding at a 13.6% compound annual growth rate (https://ibn.fm/Vo563). The firm cites several growth drivers, including an increasing number of minimally invasive surgeries, more government funds and grants for endosurgical procedures and a rising number of ESRD (end stage renal disease) patients. They also point to technological advancements in fluid management systems, which falls right into Skyline Medical’s wheelhouse.
Skyline Medical markets its patented and FDA-cleared STREAMWAY System, which automates the collection, measurement, and disposal of waste fluid, including blood, irrigation fluid and others, within a medical facility, through both domestic and international divisions. A video showcasing the system is available at (https://ibn.fm/GZGlG).
The STREAMWAY System is a major step forward compared to the way many hospitals currently deal with waste fluids, which can amount to dozens of liters from a patient during a single operation. Operating under today’s standards, once a waste fluid container is filled, it is wheeled down a hallway to be emptied. This can even mean stopping mid-operation to empty a container.
The wall-mount STREAMWAY System ties into a facility’s existing plumbing system. During a surgery or procedure, a single-use filter is snapped into place, a suction tube connected to the unit and proper vacuum level programmed into the display, and the unit takes it from there, calculating the collected amount of fluid while safely disposing of it through the drain system.
For interventional radiology procedures, such as paracentesis and thoracentesis, the unit can also be programmed to remove a designated amount of fluid. Once complete, the filter is disposed of and a bottled STREAMWAY solution is attached to the unit, cleaning it in less than five minutes. The system is centered on elimination of waste transport, disposal costs, equipment relocation and risk of exposure to potentially contaminated fluids.
The new generation of the system will include:
“Skyline Medical plans to follow shortly with a Generation 3 Plus machine, which includes an integrated on board vacuum pump so the facility vacuum supply will not be required or at the very least can be augmented if needed,” commented Predictive Oncology CEO Dr. Carl Schwartz.
Overall, the new design will be smaller, lighter, and easier to install with the goal of improving operator reliability, reducing manufacturing costs, increasing durability and simplifying servicing. From a regulatory standpoint, the changes do not affect the intended use of the system, meaning no separate 501(k) medical device submission is required with the Food and Drug Administration.
For more information, visit the company’s website at www.Predictive-Oncology.com.
NOTE TO INVESTORS: The latest news and updates relating to POAI are available in the company’s newsroom at http://ibn.fm/POAI
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