Catheter Precision’s VIVO™ System Used in More Than 800 Procedures in Leading U.S. and European Hospitals
December 01 2022 - 06:50AM
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Catheter Precision, Inc., a medical device and technology company focused on cardiac electrophysiology, announces that more than 800 procedures have been performed in a number of leading U.S. and European hospitals utilizing the VIVO System that enables physicians to noninvasively identify an area of ventricular arrhythmia onset. On September 12, 2022 privately held Catheter Precision announced a definitive merger agreement with Ra Medical Systems (NYSE American: RMED), which, if completed, will result in a combined publicly traded company focusing on the cardiac electrophysiology market.
“We are always looking to the next milestone in clinical usage of our VIVO System and reaching 800 procedures by the end of 2022 was a goal we set earlier this year,” said David Jenkins, Catheter Precision CEO. “We are gratified by physician adoption so far through our strategic limited launch and look forward to expanding usage in 2023 by growing our sales and clinical support teams to access additional hospitals in new and existing territories. By expanding our footprint, we are bringing a valuable tool to electrophysiologists to help them gain a better understanding of patient anatomy and potentially improve outcomes while providing beneficial healthcare to more patients.”
Catheter Precision’s lead product, VIVO™ (View Into Ventricular Onset), is a non-invasive 3D imaging system that enables physicians to identify the origin of arrhythmias pre-procedure, thereby streamlining workflow and reducing procedure time. VIVO has received marketing clearance from the U.S. FDA and has been awarded the CE mark. The company also intends to pursue a second generation of Amigo®, a previously FDA-cleared and CE mark robotic arm that can be used to remotely control catheters outside of the procedure room. Additionally, Catheter Precision is working toward a commercial launch of a vessel closure device, currently planned for the first half of 2023.
Under the terms of the definitive merger agreement with Ra Medical Systems, Catheter Precision will become a wholly owned subsidiary of Ra Medical Systems in a stock-for-stock reverse merger transaction. The merger is expected to close in the fourth quarter of 2022 or the first quarter of 2023, subject to satisfying certain closing conditions, including the receipt of required shareholder approval.
About Catheter Precision
Catheter Precision is an innovative U.S.-based medical device company bringing new solutions to market to improve the treatment of cardiac arrhythmias. It is focused on developing groundbreaking technology for electrophysiology procedures by collaborating with physicians and continuously advancing its products.
VIVO Indications for Use
VIVO is intended for acquisition, analysis, display and storage of cardiac electrophysiological data and maps for analysis by a physician.
VIVO is intended to be used as a pre-procedure planning tool for patients with structurally normal hearts undergoing ablation treatment for idiopathic ventricular arrhythmias.
Additional Information and Where to Find It
On September 12, 2022, Ra Medical announced entering into an Agreement and Plan of Merger (the “Merger Agreement”) with privately held Catheter Precision, Inc. (“Catheter”), a medical device and technology company focused in the field of cardiac electrophysiology. Under the terms of the Merger Agreement, Catheter will become a wholly owned subsidiary of Ra Medical in a stock-for-stock reverse merger transaction (the “Merger”). If completed, the Merger will result in a combined publicly traded company that will focus on the cardiac electrophysiology market, one of the most robust and growing areas of medical devices.
The Merger is currently expected to close before the end of 2022 or during the first
