Catheter Precision, Inc. Expands LockeT Distribution to Middle East
Catheter Precision, Inc. (NYSE American: VTAK), a US-based medical device company specializing in electrophysiology products, has expanded its LockeT distribution to the Middle East. The company has signed a distribution agreement with Dubai-based Forum Medical, which includes partnerships with additional distributors in Georgia, Uzbekistan, and Kazakhstan.
LockeT is described as a safe, low-cost device that provides quick hemostasis after venous access, reducing time and staff-related burdens. CEO David Jenkins highlighted the product's high demand in both international and US markets, expressing excitement about introducing this unique tool to physicians in new regions.
Catheter Precision, Inc. (NYSE American: VTAK), un'azienda medica statunitense specializzata in prodotti di elettrofisiologia, ha ampliato la distribuzione del suo dispositivo LockeT in Medio Oriente. L'azienda ha firmato un accordo di distribuzione con Forum Medical, con sede a Dubai, che include collaborazioni con ulteriori distributori in Georgia, Uzbekistan e Kazakistan.
Il dispositivo LockeT è descritto come un dispositivo sicuro ed economico che offre un rapido emostasi dopo l'accesso venoso, riducendo i tempi e il carico di lavoro del personale. Il CEO David Jenkins ha sottolineato l'alta domanda del prodotto sia nei mercati internazionali che in quelli statunitensi, esprimendo entusiasmo per l'introduzione di questo strumento unico ai medici in nuove regioni.
Catheter Precision, Inc. (NYSE American: VTAK), una empresa de dispositivos médicos con sede en EE. UU. especializada en productos de electrofisiología, ha ampliado la distribución de su dispositivo LockeT en el Medio Oriente. La empresa ha firmado un acuerdo de distribución con Forum Medical, con sede en Dubái, que incluye colaboraciones con distribuidores adicionales en Georgia, Uzbekistán y Kazajistán.
LockeT se describe como un dispositivo seguro y de bajo costo que proporciona una rápida hemostasia tras el acceso venoso, reduciendo el tiempo y la carga de trabajo del personal. El CEO David Jenkins destacó la alta demanda del producto tanto en los mercados internacionales como en los de EE. UU., expresando emoción por presentar esta herramienta única a los médicos en nuevas regiones.
Catheter Precision, Inc. (NYSE American: VTAK), 전자생리학 제품을 전문으로 하는 미국 기반의 의료 기기 회사가 중동 지역으로 LockeT 유통을 확대했습니다. 이 회사는 두바이에 본사를 둔 Forum Medical과 유통 계약을 체결했으며, 조지아, 우즈베키스탄, 카자흐스탄의 추가 유통업체와 협력하고 있습니다.
LockeT는 정맥 접근 후 빠른 지혈을 제공하는 안전하고 저렴한 장치로 설명되며, 시간과 인력 부담을 줄여줍니다. CEO인 David Jenkins는 이 제품이 국제 및 미국 시장에서 높은 수요가 있음을 강조하며, 새로운 지역의 의사들에게 이 독특한 도구를 소개하게 되어 기쁘다고 표현했습니다.
Catheter Precision, Inc. (NYSE American: VTAK), une entreprise américaine spécialisée dans les dispositifs médicaux d'électrophysiologie, a élargi la distribution de son dispositif LockeT au Moyen-Orient. L'entreprise a signé un accord de distribution avec Forum Medical, basé à Dubaï, qui comprend des partenariats avec d'autres distributeurs en Géorgie, Ouzbékistan et Kazakhstan.
LockeT est décrit comme un dispositif sûr et peu coûteux qui permet une hémostase rapide après un accès veineux, réduisant ainsi la charge de travail et le temps du personnel. Le PDG David Jenkins a souligné la forte demande pour le produit sur les marchés internationaux ainsi qu'aux États-Unis, exprimant son enthousiasme à l'idée de présenter cet outil unique aux médecins dans de nouvelles régions.
Catheter Precision, Inc. (NYSE American: VTAK), ein in den USA ansässiges Medizinprodukteunternehmen, das sich auf Elektrophysiologieprodukte spezialisiert hat, hat seine LockeT-Vertrieb in den Nahen Osten ausgeweitet. Das Unternehmen hat eine Vertriebsvereinbarung mit dem in Dubai ansässigen Forum Medical unterzeichnet, die Partnerschaften mit weiteren Distributoren in Georgien, Usbekistan und Kasachstan umfasst.
LockeT wird als sicheres, kostengünstiges Gerät beschrieben, das eine schnelle Hämostase nach venösem Zugang ermöglicht, wodurch Zeit- und Personalbelastungen verringert werden. CEO David Jenkins hob die hohe Nachfrage des Produkts sowohl auf internationalen als auch auf US-Märkten hervor und äußerte sich begeistert darüber, dieses einzigartige Werkzeug Ärzten in neuen Regionen vorzustellen.
- Expansion of LockeT distribution to new markets in the Middle East
- Partnership with Dubai-based Forum Medical for distribution
- Additional distribution agreements in Georgia, Uzbekistan, and Kazakhstan
- LockeT described as a safe, low-cost device with quick hemostasis benefits
- High demand for LockeT in international and US markets
- None.
Insights
The expansion of LockeT distribution to the Middle East marks a strategic move for Catheter Precision. While entering new markets can potentially boost revenue, the impact on the company's financials remains uncertain without specific sales projections. The Middle East, particularly Dubai, is known for its growing healthcare sector, which could present opportunities for LockeT.
However, challenges such as regulatory hurdles and market competition in these new territories should not be overlooked. The success of this expansion will largely depend on the effectiveness of the local distributors and the product's adoption rate among Middle Eastern healthcare providers. Investors should monitor future reports for concrete evidence of market penetration and revenue growth from these new regions.
LockeT's expansion into the Middle East could be significant for patient care in the region. The device's ability to achieve quick hemostasis after venous access is particularly valuable in cardiac procedures, which are increasingly common in the Middle East due to rising cardiovascular disease rates. The low-cost aspect of LockeT is also crucial, as it may improve accessibility to advanced cardiac care in countries like Georgia, Uzbekistan and Kazakhstan, where healthcare resources might be
However, the adoption curve for new medical devices can be steep, especially in diverse healthcare systems. The success of LockeT will depend on its ease of use, training provided to local medical staff and its ability to demonstrate clear benefits over existing methods of achieving hemostasis. Long-term clinical data from these new markets will be key to assessing LockeT's impact and potential for further expansion.
FORT MILL, SC / ACCESSWIRE / September 18, 2024 / Catheter Precision, Inc. (the"Company") (NYSE American:VTAK), a US based medical device pioneering electrophysiology products, announced that it has completed a distribution agreement for LockeT with Dubai based company Forum Medical.
The distribution agreement also includes partnerships with additional distributors in the Middle East, expanding LockeT distribution to Georgia, Uzbekistan and Kazakhstan.
"LockeT is a safe low-cost device that provides the benefit of quick hemostasis after venous access, while removing burdens related to time and staff availability", said David Jenkins, Chief Executive Officer for Catheter Precision. "For these reasons, LockeT continues to be a highly sought after product in international markets, as well as the United States, and we are excited to be able to provide this unique tool to physicians in new markets."
About LockeT
Catheter Precision's LockeT is a suture retention device intended to assist in hemostasis after percutaneous venous punctures. LockeT is a Class 1 device registered with the FDA.
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.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to substantial risk and uncertainties. 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 include, but are not limited to, statements regarding product evaluations at the hospital, and that the purchase order indicates that the hospital and its staff see the value and benefits that LockeT can bring and expectations regarding LockeT evaluations in the coming weeks. 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 Form 10-K filed with the SEC and available at www.sec.gov. These risks and uncertainties include, but aren't limited to, that 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 March 31, 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.
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Contact Information
Missiaen Huck
COO
mhuck@catheterprecision.com
9736912000
SOURCE: Catheter Precision
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