Precision Therapeutics Secures First STREAMWAY System Sale in Europe

Precision Therapeutics (NASDAQ:AIPT) is pleased to announce it has secured its first European sale of the STREAMWAY System, an automated, direct-to-drain medical fluid disposal system sold by the Company’s Skyline Medical division. The European Union has approximately 15,000 hospitals and is experiencing an increasing push toward improved healthcare waste management, representing a major new market for the Company.

As quoted in the press release:

The Company established its European expansion strategy in early 2018, with the opening of new European headquarters and the hiring of a cross-continent team, led by a new Vice President of International Sales in Belgium and supported by a Director of Sales in Germany, among other sales representatives. The Company has also signed with an independent distributor for Switzerland, Austria, and part of France, as well as an independent distributor for Portugal. The first sale in Europe was secured by one of the Company’s independent distributors to a hospital based in Switzerland.

Dr. Carl Schwartz, Chief Executive Officer of Precision Therapeutics, commented, “High levels of expenditure on public healthcare and a strengthening awareness of the importance of the proper handling of healthcare waste make Europe an important market for our Skyline Medical division. Over the past several months our international sales team has focused on getting in front of decision-makers in the healthcare industry, educating the European market about the benefits of the STREAMWAY System and laying the groundwork for meaningful sales growth. We are pleased to have started the ball rolling with the first sale in Europe, and expect this momentum to continue as our ongoing negotiations are converted into sales. Sales of the STREAMWAY System are an important near-term revenue driver for the Company and we continue to focus on investing in both our European and U.S. marketing efforts, as we simultaneously execute on our new growth strategy within the precision medicine market. Both the Skyline Medical division and our operations in the precision medicine market represent exciting opportunities for the Company to grow revenues and build shareholder value.”

Click here to read the full press release.