Ra Medical Systems, Inc. - RMED STOCK NEWS

Ra Medical Systems (RMED:NYSE/American) announced that its subsidiary, Catheter Precision, has received a new international patent for its VIVO technology in Japan. The patent, titled Methods of Cardiac Mapping and Model Merging, adds to the company's growing patent portfolio, now exceeding fifty patents and applications. Executive Chairman, David Jenkins, emphasized the importance of intellectual property in enhancing market presence and value. The VIVO™ system, a non-invasive 3D imaging solution, assists in identifying the origins of ventricular arrhythmias, improving workflow and reducing procedure times.

Ra Medical Systems (NYSE American: RMED) announced the granting of a new patent (number D980,420 S) by the USPTO on March 7, 2023, for its VIVO product's technology. This patent enhances the company's intellectual property portfolio, which now includes 36 issued patents and 15 applications related to electrophysiology products, alongside 15 additional licensed patents for VIVO technology. The VIVO system is a non-invasive 3D imaging solution that helps identify the origins of ventricular arrhythmias, thus improving workflow efficiency and reducing procedure duration. Executive Chairman David Jenkins emphasized the strategic importance of IP for the company’s future value.

Ra Medical Systems (NYSE American: RMED) announced significant findings regarding its product VIVO, a non-invasive localization system, following a recent publication from the Royal Brompton Hospital. The study shows that utilizing VIVO reduces ventricular ablation mapping time by nearly 30%, contributing to shorter overall procedure times and enhanced patient safety. Importantly, the data suggests that patients previously unable to undergo ablation can now have successful procedures, expanding treatment options for those with rare ventricular arrhythmias. With close to 1,000 procedures performed, VIVO is gaining traction, and its clinical acceptance is anticipated to grow.

Ra Medical Systems, Inc. (RMED) has successfully announced the first use of its new LockeT device in a series of electrophysiology procedures. Shipping commenced on February 13, 2023, with approximately thirty devices utilized within the first week. The LockeT is designed for use in procedures involving venous punctures, particularly in atrial fibrillation and ventricular tachycardia treatments. CEO David Jenkins highlighted the device's potential to offer physicians innovative, cost-effective alternatives and improve patient outcomes across various procedures, including structural heart interventions.

Ra Medical Systems, through its subsidiary Catheter Precision, has launched the LockeT product, initiating initial shipments to distributors this week. LockeT is designed to assist in the closure of percutaneous wound sites after catheter removal. It is positioned as a cost-effective alternative to existing closure devices like Perclose and Angioseal. The executive leadership expressed optimism about the product's market potential, highlighting its applicability to millions of percutaneous procedures across various medical domains such as cardiac electrophysiology and vascular surgeries. The feedback from healthcare professionals further emphasizes its user-friendly and low-cost design.

Ra Medical Systems (NYSE American:RMED) has announced a special shareholder meeting scheduled for March 21, 2023. Shareholders of record as of February 3, 2023 are eligible to vote on key items, including an $8 million private financing and the conversion of preferred stock into common stock. The majority of this stock conversion is not expected to occur until mid-2024. The preferred stock was originally issued during the acquisition of Catheter Precision, Inc.. Ra Medical, along with its subsidiary, focuses on developing innovative solutions for cardiac arrhythmias.

Ra Medical Systems (NYSE American: RMED) is expanding its VIVO product into new territories in the U.S. The company has hired additional representatives to support clinical adoption and direct sales of VIVO, a proprietary AI system for identifying ventricular arrhythmias before ablation procedures. This expansion targets influential electrophysiology regions like Texas and Ohio. The hiring is part of a strategy to increase utilization and foster physician partnerships in 2023. VIVO, which has received FDA marketing clearance and CE mark, aims to streamline workflow and reduce procedure time.

Ra Medical Systems (RMED) announced that four clinical abstracts supporting its VIVO™ technology were accepted for presentation at the European Heart Rhythm Association Congress (EHRA 2023) in Barcelona from April 16-18, 2023. VIVO is a proprietary AI system that assists in identifying the origins of ventricular arrhythmias prior to ablation procedures. The full acceptance rate of abstracts highlights the positive impact of VIVO on ablation processes. Following the conference, Ra Medical plans to release detailed clinical data, marking a significant milestone towards gaining wider clinical acceptance.

Ra Medical Systems has completed a stock-for-stock merger with Catheter Precision, aimed at enhancing its cardiac electrophysiology market presence. David Jenkins, CEO of Catheter Precision, will serve as Executive Chairman. The transaction includes a conversion of $25 million in debt to non-voting Convertible Preferred Stock, granting Catheter Precision stakeholders approximately 87.7% of RMED’s equity. Ra Medical anticipates raising up to $9.3 million in equity financing, reinforcing its financial position with an estimated $12.5 million in net cash for two years of operating capital.