Catheter Precision, Inc. (NYSE American:VTAK) Announces the First Use of VIVO With a Pediatric Patient in Turkey
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Insights
The recent utilization of Catheter Precision's VIVO technology in a pediatric case in Turkey marks a notable development in the company's international expansion and product adoption. The strategic partnership with Ege Artimi signifies an entry into the Turkish medical device market, which could have a positive impact on the company's revenue streams and market share. The emphasis on VIVO's non-invasive nature and its application in pre-procedure planning for ventricular ablations highlights the potential for increased demand in a market that is increasingly valuing patient safety and outcome optimization.
From an industry perspective, the adoption of such technologies in pediatric care is significant, as it represents a challenging patient demographic due to their unique anatomical and physiological characteristics. The ability of VIVO to provide tailored information without additional risk could set a new standard in electrophysiology, potentially influencing competitors and driving innovation. However, it's essential to monitor how the technology's adoption affects long-term clinical outcomes and whether it leads to a tangible improvement in procedural success rates and patient recovery times.
The announcement of VIVO's first pediatric use in Turkey may be an indicator of the product's versatility and potential for broader applications beyond the initial target demographic. This could lead to an expansion of the addressable market for Catheter Precision's technology. It's important to consider the healthcare infrastructure and regulatory environment in Turkey, as these factors will play a critical role in the speed and extent of VIVO's market penetration. Additionally, the non-invasive aspect of the device aligns with global healthcare trends towards less invasive procedures, which can lead to reduced healthcare costs and improved patient recovery experiences.
As the company continues to establish distribution channels and partnerships, investors should look for signs of sustainable growth and adoption rates, as well as any data supporting the clinical and economic benefits of VIVO. Such data will be crucial for the company to differentiate its product in a competitive market and justify any premium pricing strategies.
The introduction of the VIVO system into pediatric electrophysiology represents a significant advancement in the field, particularly due to the delicate nature of treating heart conditions in children. The system's non-invasive mapping capability may lead to a reduction in the risks associated with invasive diagnostic procedures, which is especially important in a pediatric setting. Furthermore, the precision that VIVO offers in pre-procedure planning could improve the outcomes of ventricular ablations, a complex procedure where accurate mapping of electrical pathways is critical.
While the news is promising, it is essential to evaluate clinical data from a larger cohort of pediatric patients to fully understand the impact of VIVO on procedure efficacy, patient safety and long-term outcomes. Additionally, the training and support provided to physicians using the technology will be a determining factor in its successful implementation and could influence its adoption rate in Turkey and potentially in other international markets.
FORT MILL, SC / ACCESSWIRE / February 28, 2024 / Catheter Precision, Inc. (the "Company") (NYSE American:VTAK), a U.S. based medical device company focused on novel electrophysiology products, announced that VIVO was used for the first time on a pediatric patient in Turkey. The Company recently announced its new distribution partnership with Ege Artimi in Turkey in January.
Catheter Precision's CEO, David Jenkins, said, "VIVO is an excellent choice for pre-procedure planning, especially in pediatric patients. VIVO is non-invasive and used prior to ventricular ablations, meaning that it can provide the physician with additional information specific to each patient and because it is non-invasive there is no additional risk when it is utilized. The utilization of VIVO in delicate patient populations like this continues to show the flexibility and many benefits of this innovative product."
About VIVO
Catheter Precision's VIVO™ (View Into Ventricular Onset), is a non-invasive 3D imaging system that enables physicians to identify the origin of ventricular arrhythmias pre-procedure, thereby streamlining workflow and reducing procedure time. VIVO has received marketing clearance from the U.S. FDA and has the CE mark.
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. Reincorporated as Ra Medical Systems, Inc. in Delaware in 2018, the Company changed its name to Catheter Precision, Inc. on August 17, 2023.
Cautionary Note Regarding 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. 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, if our internal controls are not effective, 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. In addition, our auditor's finalization of the accounting for the merger requires complex calculations and the input of outside advisors, and as a result, the final results of these calculations could differ from our current expectations. 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 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
SOURCE: Catheter Precision, Inc
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FAQ
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