Precision Therapeutics’ Skyline Medical Division Signs Distribution Agreement with Prenit World

Precision Therapeutics Inc. is pleased to announce that its Skyline Medical division, producer of the FDA-approved and CE-marked STREAMWAY System for automated, direct-to-drain medical fluid disposal, has partnered with Prenit World, an international distributor of medical infrastructure solutions for healthcare facilities, to market the STREAMWAY System in India. Signing this international distribution agreement represents the Company’s entry into India’s bourgeoning healthcare market. For the past 10 years Prenit World has provided technologically advanced and superior quality medical infrastructure solutions to operating theaters and other healthcare facilities in India. Under the terms of the agreement, Prenit World will be the exclusive distributor of the STREAMWAY System, as well as its associated filters and cleaning solutions, to hospitals and other healthcare facilities in India.

Partnering with a reputable third-party distributor in India is the latest milestone in Skyline Medical’s ongoing international expansion strategy. Following the opening of its European entity earlier in 2018, the Company recently announced it has secured its first system sale in Europe. Furthermore, Skyline Medical is currently in negotiations with several other international distributors in the United Arab Emirates, Kuwait and Libya, and is also in direct negotiations with a number of hospital suppliers in the Middle East that are instrumental in the building of hospitals and operating rooms. Dr Carl Schwartz, CEO of Precision Therapeutics, commented, “Prenit World supplies various healthcare organizations with state-of-the-art, efficient and flexible medical healthcare solutions that have stood the test of time. Their reputation for superior quality and their track record of selling best-in-class hospital infrastructure across the country make them the right partner to market and distribute the STREAMWAY System in India.”

“India has a population of approximately 1.4 billion and growing, which is fueling a bourgeoning healthcare industry, supported by the expansion of the emerging middle-income class. According to research from IBEF, the hospital industry in India stood at USD 61.79 billion in 2017 and is expected to reach USD 132.84 billion by 2023. Even capturing a small portion of market share in India could drive meaningful revenue growth to the Company so we are keen to enter this market. We are pleased to be making strong progress executing on our sales and marketing strategy for the STREAMWAY System, alongside our strategy to become a leading provider of artificial-intelligence based precision medicine solutions to the emerging personalized healthcare market. These two strategic business verticals represent major growth opportunities for the Company and we are excited to be at this pivotal juncture in our development,” concluded Dr Schwartz. – Medical Buyer Bureau