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Company Overview
Catheter Precision (VTAK) is a U.S.-based innovator in the medical device industry, specializing in electrophysiology and vascular closure solutions. Focused on developing cutting-edge technology, the company harnesses advanced non-invasive imaging and suture retention systems to improve patient outcomes in cardiac arrhythmia procedures and post-catheterization care. Its portfolio is built on rigorous clinical research, regulatory milestones, and established collaborations with medical professionals, making it a unique player in its market segment.
Advanced Product Portfolio
At the core of Catheter Precision's business are two principal product lines:
- VIVO System: A non-invasive, 3D imaging platform designed for detailed cardiac mapping. VIVO enables electrophysiologists to pinpoint the origin of ventricular arrhythmias pre-procedure by integrating data from traditional ECGs and advanced imaging techniques like CT scans. With important regulatory clearances including the FDA clearance and the CE mark, the system is engineered to streamline procedural workflows and enhance diagnostic accuracy.
- LockeT Device: A suture retention technology for vascular closure, LockeT assists in achieving rapid hemostasis following percutaneous venous punctures. Its design focuses on optimizing wound closure, reducing complications, and facilitating early patient ambulation. This device has been developed with the intent of offering a low-cost, efficient alternative to traditional closure methods.
Technical and Clinical Excellence
Catheter Precision places significant emphasis on technical innovation and clinical validation. The VIVO system employs proprietary algorithms for 3D electrical modeling of the heart and has demonstrated high accuracy in localizing arrhythmia origins. Numerous clinical studies across international centers have attested to its diagnostic value, particularly in complex cases involving scar-related ventricular tachycardia. Equally, the LockeT device has been validated through clinical trials that underscore its effectiveness in achieving swift hemostasis, thereby potentially reducing procedural time and resource burdens in healthcare settings.
Market Position and Competitive Landscape
Operating within the rapidly evolving field of cardiac electrophysiology, Catheter Precision leverages its robust product innovation to address unmet clinical needs. The company’s strategic approach, which includes international distribution agreements and ongoing clinical collaborations, underlines its commitment to both patient care and procedural efficiency. By focusing on precise, non-invasive diagnostic tools and reliable vascular closure solutions, it differentiates itself from competitors that offer more generic or invasive alternatives. The company’s dedication to continuous product enhancement and evidence-based validation positions it as a noteworthy entity in a specialized market segment.
Strategic Initiatives and Growth Considerations
Beyond its immediate product offerings, Catheter Precision has pursued several strategic initiatives aimed at broadening its market reach and enhancing its technology portfolio. Recent distribution agreements in key territories and the strategic acquisition of complementary technologies (such as the PeriKard platform) underscore its drive to integrate innovative solutions with established clinical practices. The company’s efforts to strengthen its sales and clinical teams and to consistently engage with leading medical institutions further reinforce its commitment to innovation and operational excellence.
Operational Excellence and Regulatory Milestones
Emphasizing adherence to rigorous regulatory standards, Catheter Precision has secured essential clearances and conducts extensive clinical studies to verify the safety and efficacy of its products. The integration of regulatory feedback into its development timelines ensures that each product meets the highest standards of quality and performance. This careful balance of innovation, clinical evidence, and regulatory compliance builds a solid foundation of trust and expertise.
Conclusion
In summary, Catheter Precision stands out as an innovative, research-driven company offering specialized solutions in the fields of cardiac electrophysiology and vascular closure. With its advanced VIVO non-invasive mapping system and the efficient LockeT device, the company addresses critical clinical needs while demonstrating technical precision and robust regulatory compliance. Its continued focus on product development, clinical validation, and strategic partnerships strengthens its position within a competitive and dynamic marketplace and underscores its contribution to improving patient care across the electrophysiology domain.
Catheter Precision (NYSE/American: VTAK) has received its first US patent allowance for the LockeT surgical closure device, designed for orthoscopic entry wounds. This adds to the company's existing international patents for LockeT in China, Europe, and the United Kingdom.
The company expects to receive the CE mark for LockeT in the current quarter, which will enable revenue generation in Europe. The product has been well-received since its US rollout in late last year, offering improved outcomes while reducing procedure costs in international markets.
Catheter Precision (NYSE American: VTAK) reported its Q4 and full-year 2024 financial results. The company's Q4 revenue reached $149,000, showing a 55% sequential increase from Q3, while full-year 2024 revenue totaled $420,000. Q4 net loss was $5.6 million, including $3.1 million in non-cash charges, with full-year net loss at $16.6 million.
Key operational highlights include: sequential growth in LockeT sales since Q2 2024, completion of CE Mark audits in Q4 2024 with anticipated approval in Q2 2025, and expansion of VIVO sales across multiple international markets. The company reported 26 institutions evaluating LockeT by year-end. Financial position shows total assets of $27.7 million and shareholders' equity of $11.8 million as of December 31, 2024, with 8,004,633 outstanding common shares.
Catheter Precision (NYSE: VTAK) announced its participation in three major medical conferences through April 2, 2025: the American College of Cardiology (ACC) in Chicago, the European Heart Rhythm Association (EHRA) in Vienna, and the Society of Interventional Radiology (SIR) in Nashville.
At ACC, the company will present a poster abstract showcasing their LockeT device. A recent study of 97 patients demonstrated LockeT's advantages over manual compression for hemostasis, including reduced ambulation time, lower resource utilization, and cost-effectiveness compared to vascular closure devices.
The company will exhibit VIVO at EHRA and LockeT at SIR, marking their first appearance at an interventional radiology conference. CEO David Jenkins emphasized the importance of conference attendance for meeting industry leaders, sharing clinical data, and connecting with new customers.
Catheter Precision (NYSE/American: VTAK) has announced its participation in the 18th Western Atrial Fibrillation Symposium from February 27 – March 1 in Salt Lake City, Utah. The symposium, featuring over 80 world-renowned faculty members, focuses on improving atrial fibrillation (AF) outcomes globally through discussions of latest diagnostic and treatment advancements.
The company aims to showcase its LockeT product line, which serves as an adjunctive solution for atrial fibrillation procedures. CEO David Jenkins emphasized that attending industry-specific meetings is important to their commercialization strategy, with the goal of educating physicians about LockeT's benefits for recovery room staff, hospitals, and patients.
Catheter Precision (NYSE American: VTAK) has engaged PCG Advisory to enhance its investor relations strategy and market communications. The company, which develops cardiac electrophysiology medical devices, aims to strengthen engagement with institutional and retail investors while increasing awareness of its LockeT and VIVO™ technologies.
These innovative devices address challenges in electrophysiology and vascular closure, focusing on improving procedural efficiency and reducing complications. The company is entering its commercial phase, with CEO David Jenkins highlighting the potential of their technologies to deliver value to shareholders and healthcare providers.
The engagement comes as the electrophysiology market is projected to reach $15.1 billion by 2028, driven by increasing demand for ventricular ablation treatments and vascular closure solutions.
Catheter Precision (VTAK) has announced its participation in the 13th International Symposium on Left Atrial Appendage (ISLAA) taking place on February 7th and 8th, 2025, in Austin, Texas. The symposium is a multi-specialty cardiovascular educational event focusing on left atrial appendage science.
The program will be managed by leading physicians from prestigious institutions including The Kansas City Heart Rhythm Institute, Texas Cardiac Arrhythmia Institute, Los Robles Medical Center, Mayo Clinic, and Mt. Sinai. The event features hands-on demonstrations and product education for electrophysiology fellows.
Catheter Precision will showcase LockeT, their solution for closing large access sites after LAA procedures. CEO David Jenkins highlighted that LockeT offers a safe and effective option for wound closure, enabling cost reduction and same-day hospital discharge.
Catheter Precision (NYSE American: VTAK) has successfully completed its previously announced acquisition of PeriKard, . The transaction, which was completed within the anticipated timeline, was structured as an all-stock deal. According to CEO David Jenkins, the acquired technology aligns with the company's focus on the ventricular therapeutic market and is expected to support their growth strategy in this market segment.
Catheter Precision (NYSE American:VTAK) has announced its participation in the 30th International Atrial Fibrillation Symposium, scheduled for January 16-18, 2025, in Boston, Massachusetts. The AF Symposium, established in 1995 in response to the growing atrial fibrillation epidemic, has evolved into a significant scientific forum where healthcare professionals can learn about the latest research and therapeutic advances directly from leading investigators.
CEO David Jenkins emphasized that these meetings provide valuable opportunities to showcase their technologies, generate sales leads, and facilitate educational discussions between physicians about their products, studies, and clinical techniques.
Catheter Precision (NYSE American:VTAK) has announced a definitive agreement to acquire PeriKard, through an all-stock transaction. The deal involves issuing 275,000 shares of restricted VTAK common stock for 100% of PeriKard's interests. The closing is expected by the end of January 2025, subject to NYSE/American approval.
PeriKard is developing a specialized kit of tools designed to improve physician access to the heart's pericardial space. The kit aims to provide enhanced needle and drainage systems compared to existing solutions. This technology addresses the clinical need for pericardial access in cases of excess fluid drainage and ablation procedures for treating arrhythmias outside the heart wall.
Catheter Precision (NYSE American:VTAK) has received its first purchase order for LockeT from the southeast region, specifically from The University of Tennessee Medical Center in Knoxville. This development marks the beginning of 2025 and follows the company's recent expansion of its US sales and clinical team for LockeT's national product launch.
The University of Tennessee Medical Center, a 710-bed facility, serves as the region's academic medical center, Magnet® recognized hospital, and Level I Trauma Center. It functions as a major referral center for East Tennessee, Southeast Kentucky, and Western North Carolina, and houses the region's only dedicated Heart Hospital.
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