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Precision Therapeutics Projects Meaningful STREAMWAY System Sales in Europe in the Second Half of 2018
May. 10, 2018 08:49AM PST
Medical Device Investing
Precision Therapeutics (NASDAQ:AIPT) a company focused on applying artificial intelligence to personalized medicine and drug discovery and producer of the FDA-approved STREAMWAY® System for automated, direct-to-drain medical fluid disposal, announced today that it expects to secure its first European sales of the STREAMWAY® Systems in the second half of 2018. Based on the interest generated to …
Precision Therapeutics (NASDAQ:AIPT) a company focused on applying artificial intelligence to personalized medicine and drug discovery and producer of the FDA-approved STREAMWAY® System for automated, direct-to-drain medical fluid disposal, announced today that it expects to secure its first European sales of the STREAMWAY® Systems in the second half of 2018. Based on the interest generated to date, and the stage of negotiations with several potential customers, the Company expects these sales to generate meaningful revenues.
As quoted in the press release:
Earlier this year, the Company opened its new European headquarters in Belgium, led by Jean-Paul Rasschaert, Vice President of International Sales, to drive international sales for the STREAMWAY System. Based on ongoing discussions that are underway between the Company’s new European Headquarters and hospital chains and medical clinics based in Europe, the Company expects to make meaningful sales during the second half of 2018. In addition, the Company continues to ramp its sales and marketing initiatives in the U.S. market to drive both sales to its existing customer base as well as sales to new clients, as disclosed in the Company’s press release dated January 31, 2018.
Dr. Carl Schwartz, Chief Executive Officer of Precision Therapeutics, commented, “Europe represents a significant untapped market for the STREAMWAY System and we are pleased with the rapid progress that the European Headquarters of our Skyline Medical division is making educating the market about the importance of the proper management of infectious healthcare waste. Based on the interest we have generated over the past several months, we expect to make meaningful STREAMWAY System sales in the second half of 2018, in addition to the 100 STREAMWAY Systems that we are predicted to sell in the U.S. this year. We will continue to invest in our sales and marketing efforts to drive this exciting opportunity to secure new customers and grow our footprint in key target international markets.”
