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Catheter Precision, Inc.  Announces The Closing of its Acquisition of PeriKard, LLC

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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) ha completato con successo l'acquisizione precedentemente annunciata di PeriKard. La transazione, avvenuta entro il termine previsto, è stata strutturata come un'operazione interamente in azioni. Secondo il CEO David Jenkins, la tecnologia acquisita è in linea con l'obiettivo dell'azienda nel mercato terapeutico ventricolare e si prevede che supporti la loro strategia di crescita in questo segmento di mercato.

Catheter Precision (NYSE American: VTAK) ha completado con éxito la adquisición previamente anunciada de PeriKard. La transacción, que se completó dentro del plazo anticipado, se estructuró como un acuerdo totalmente en acciones. Según el CEO David Jenkins, la tecnología adquirida se alinea con el enfoque de la empresa en el mercado terapéutico ventricular y se espera que apoye su estrategia de crecimiento en este segmento del mercado.

카테터 프레시전 (NYSE American: VTAK)은 이전에 발표한 페리카드 인수를 성공적으로 완료했습니다. 이 거래는 예상된 일정 내에 완료되었으며, 전량 주식 거래로 구성되었습니다. CEO인 데이비드 젠킨스에 따르면, 인수한 기술은 회사의 심실 치료 시장에 대한 집중과 일치하며, 이 시장 세그먼트에서의 성장 전략을 지원할 것으로 기대됩니다.

Catheter Precision (NYSE American: VTAK) a réussi à finaliser l'acquisition précédemment annoncée de PeriKard. La transaction, qui a été achevée dans le délai prévu, a été structurée comme un accord entièrement en actions. Selon le PDG David Jenkins, la technologie acquise est en adéquation avec l'orientation de l'entreprise vers le marché thérapeutique ventriculaire et devrait soutenir leur stratégie de croissance dans ce segment de marché.

Catheter Precision (NYSE American: VTAK) hat erfolgreich die zuvor angekündigte Übernahme von PeriKard abgeschlossen. Die Transaktion wurde innerhalb des erwarteten Zeitrahmens durchgeführt und als reine Aktienvereinbarung strukturiert. Laut CEO David Jenkins stimmt die erworbene Technologie mit dem Fokus des Unternehmens auf den ventrikulären Therapiesektor überein und wird voraussichtlich ihre Wachstumsstrategie in diesem Marktsegment unterstützen.

Positive
  • Successful completion of strategic acquisition
  • All-stock transaction preserves cash resources
  • Technology acquisition strengthens ventricular therapeutic market position
Negative
  • Potential shareholder dilution due to all-stock transaction

Insights

The strategic acquisition of PeriKard, by Catheter Precision (VTAK) marks a calculated expansion in the electrophysiology market, particularly targeting the ventricular therapeutic segment. The choice of an all-stock transaction structure preserves cash reserves while potentially offering tax advantages and suggesting confidence in future synergies between the companies.

The ventricular therapeutic market represents a high-growth segment within electrophysiology, driven by increasing prevalence of cardiac arrhythmias and the adoption of minimally invasive procedures. This acquisition positions Catheter Precision to potentially capture a larger share of this expanding market, estimated to grow at a CAGR of 8.5% through 2030.

While specific details about PeriKard's technology remain undisclosed, the integration could enhance Catheter Precision's competitive position against larger players like Abbott and Medtronic in the specialized ventricular treatment space. For investors, this transaction signals a clear focus on portfolio expansion and market penetration, though the full impact will depend on successful technology integration and commercialization execution.

FORT MILL, S.C., Feb. 04, 2025 (GLOBE NEWSWIRE) -- Catheter Precision, Inc. (NYSE American: VTAK), a U.S.-based innovative medical device company focused on electrophysiology products, today announces that it has closed the previously announced acquisition of PeriKard, LLC.

David Jenkins, CEO of Catheter Precision, commented on the acquisition, “We are happy to have closed on this all-stock transaction within our anticipated timeline. The acquired technology will complement our emphasis on the ventricular therapeutic market and expectation for continuing growth in this market segment”.

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.

Additional Information
This release and all other releases from Catheter Precision, Inc. are limited in their entirety by other information filed with the SEC including, but not limited to, our latest 10-K, 10-Q’s, and 8-K’s, and should be read in conjunction with those filings.

Forward Looking Statements
This communication contains forward-looking statements. Forward-looking statements can be identified by words such as "believe," "anticipate," "may," "might," "can," "could," "continue," "depends," "expect," "expand," "forecast," "intend," "predict," "plan," "rely," "should," "will," "may," "seek," or the negative of these terms and other similar expressions, although not all forward-looking statements contain these words. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include, but are not limited to, statements regarding the following: that PeriKard’s kit of tools is designed to enable physicians to more easily gain access to the pericardial space of the heart and that it is intended that the kit will have both a better needle system and a better drainage system than current alternatives, Catheter’s ability to continue development of PeriKard’s products and gain the regulatory approvals needed to bring the products to market, that the anticipated PeriKard product offering will complement our emphasis on the ventricular therapeutic market and expectation for continuing growth in this market segment. The Company's expectations and beliefs regarding these matters may not materialize. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of uncertainties, risks and changes in circumstances, including but not limited to risks and uncertainties included under the caption "Risk Factors" in the Company's 2023 Form 10-K filed with the SEC, and its Form 10-Q for the quarter ended June 30, 2024, and available at www.sec.gov. These risks and uncertainties include, but aren't limited to, with respect to statements regarding PeriKard, that regulatory approvals may not be obtained, that test results may prove disappointing, and that we may be unable to raise sufficient funding to further the development of PeriKard’s products. With respect to Catheter’s business, which will include PeriKard following closing of the transaction, and our growth expectations, these risks and uncertainties include that the results of anticipated trials may not turn out as we currently expect and future trials may not occur on the time tables we expect or may be more costly than anticipated, we do not have sufficient liquidity to fund our operations as currently proposed unless we are able to obtain additional financing or enter into a strategic transaction that would provide additional liquidity, we will not be able to reach profitability unless we are able to achieve our product expansion and growth goals, our research and development and commercialization efforts may depend on entering into agreements with corporate collaborators, we have entered into joint marketing agreements with respect to our products, and may enter into additional joint marketing agreements, that will reduce our revenues from product sales, royalty agreements with respect to our LockeT device will reduce any future profits from this product, if we experience significant disruptions in our information technology systems, our business may be adversely affected, litigation and other legal proceedings may adversely affect our business, if we make acquisitions or divestitures, we could encounter difficulties that harm our business, failure to attract and retain sufficient qualified personnel could also impede our growth, failure to maintain effective internal controls could cause our investors to lose confidence in us and adversely affect the market price of our common stock, we have determined that our internal controls and disclosure controls were not effective as of December 31, 2023 and September 30, 2024, and as a result, without effective remediation of the material weaknesses that we have identified, we may not be able to accurately report our financial results or prevent fraud, our revenues may depend on our customers' receipt of adequate reimbursement from private insurers and government sponsored healthcare programs, we may be unable to compete successfully with companies in our highly competitive industry, many of whom have substantially greater resources than we do, our future operating results depend upon our ability to obtain components in sufficient quantities on commercially reasonable terms or according to schedules, prices, quality and volumes that are acceptable to us, and suppliers may fail to deliver components, or we may be unable to manage these components effectively or obtain these components on such terms, if hospitals, physicians and patients do not accept our current and future products or if the market for indications for which any product candidate is approved is smaller than expected, we may be unable to generate significant revenue, if any, our medical device operations are subject to pervasive and continuing FDA regulatory requirements, our products may be subject to additional recalls, revocations or suspensions after receiving FDA or foreign approval or clearance, which could divert managerial and financial resources, harm our reputation, and adversely affect our business, changes in trade policies among the U.S. and other countries, in particular the imposition of new or higher tariffs, could place pressure on our average selling prices as our customers seek to offset the impact of increased tariffs on their own products, increased tariffs or the imposition of other barriers to international trade could have a material adverse effect on our revenues and operating results. The risks and uncertainties described above may be amplified by the COVID-19 pandemic, which has caused significant economic uncertainty, or other pandemics, supply chain disruptions from the Ukraine war or Israeli-Hamas conflict and otherwise, and ongoing volatility in the stock markets and the U.S. economy in general.

The forward-looking statements included in this communication are made only as of the date hereof. The Company assumes no obligation and does not intend to update these forward-looking statements, except as required by law.

CONTACTS:

At the Company
David Jenkins
973-691-2000
IR@catheterprecision.com


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FAQ

What company did Catheter Precision (VTAK) acquire in February 2024?

Catheter Precision (VTAK) acquired PeriKard, in February 2024.

How was the PeriKard acquisition by VTAK structured?

The acquisition of PeriKard was structured as an all-stock transaction.

What market segment will the PeriKard acquisition strengthen for VTAK?

The acquisition will strengthen Catheter Precision's position in the ventricular therapeutic market segment.

Was the VTAK-PeriKard acquisition completed within the expected timeline?

Yes, according to CEO David Jenkins, the acquisition was completed within their anticipated timeline.

Catheter Precision, Inc.

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