MINNEAPOLIS, June 20, 2011 /PRNewswire/ — BioDrain Medical,
Inc. (OTC Bulletin Board: BIOR), producer of the FDA cleared
Streamway® System for automated surgical fluid disposal, today
announced the results of the Company’s Annual Shareholder Meeting,
held on June 14, 2011.
Shareholders approved an amendment to the Company’s 2008 Equity
Incentive Plan to increase the number of authorized shares of
common stock from three million (3,000,000) shares to seven million
In addition, the six members of the Company’s Board of Directors
were elected to hold office for another year. They include Lawrence
W. Gadbaw, Chairman; Kevin R. Davidson, CEO and CFO; Chad A. Ruwe,
COO; and Peter L. Morawetz, Thomas J. McGoldrick, and Andrew P.
The appointment of Olsen Thielen & Co. Ltd. as the
independent registered public accounting firm for the Company was
ratified for the fiscal year ending December 31, 2011.
Kevin Davidson, CEO of BioDrain, declared, “This has been a very
successful year for BioDrain, and we are pleased to be moving ahead
with the same strong leadership team. I am especially excited to
announce that the Streamway® system has now been utilized in
over 300 medical/surgical procedures in multiple facilities –
an increase from about 100 procedures approximately one year ago.
Although this number of procedures does not yet signal true market
acceptance of the Streamway system, it does provide a significant
amount of data for the Company to evaluate what will be necessary
to achieve market acceptance over time.”
All of the above results of the Annual Meeting are documented in
a Form 8-K, filed with the SEC on June 15, 2011.
About BioDrain Medical, Inc.
BioDrain Medical, Inc. has a fully automated, patented, FDA
cleared, surgical fluid disposal system that virtually eliminates
operating room workers’ exposure to blood, irrigation fluid and the
related germs, viruses