Skyline Medical said today it won Health Canada approval for its Streamway medical fluid disposal device, launching it and its associated accessories in the region.
The Streamway System is an automated direct-to-drain medical fluid disposal system, the Minneapolis, Minn.-based company said.
Skyline Medical said that “a number of distributors” have shown interest in selling the Stremway in Canada, and that the company is currently in talks with them. The company expects to reach a deal within the coming weeks to distribute the product across 1,500 hospitals in all 13 Canadian provinces.
“We look forward to bringing the Streamway System and its many benefits to healthcare professionals and facilities to the approximately 10,000 operating rooms across Canada. This approval follows receipt of ISO 13485:2003 certification for the Streamway System, which not only was a requirement for Canadian approval, but is necessary for the CE Mark and subsequent sales in the European Union. We are pleased to reach this important milestone in our plans for broader distribution of the Streamway System,” exec chair Dr. Carl Schwartz said in prepared remarks.
In late October, Skyline said its board of directors approved and the company initiated a 1-for-25 reverse stock split.
The move put 1 share of Skyline Medical in the hands of its shareholders for each 25 shares they held previously. The company’s stock began trading today.