Catheter Precision, Inc. (NYSE American:VTAK) Reports First Purchase Order for LockeT in a New US Territory
Catheter Precision, Inc. (NYSE American:VTAK), a MedTech company specializing in cardiac electrophysiology, has announced its first purchase order for LockeT from a hospital in the greater Chicago area. This order comes from one of the hospitals within the Endeavor Health System, the third largest healthcare system in Illinois with 9 hospitals, over 300 care sites, and more than 7,100 physicians.
The company recently expanded its US sales and clinical team in preparation for LockeT's national product launch. Marie-Claude Jaques, Chief Commercial Officer, expressed optimism about the company's sales infrastructure and anticipates more purchase orders in the coming months. This development aligns with Catheter Precision's goal to bring LockeT's potential benefits to patients, physicians, and hospitals across the US.
Catheter Precision, Inc. (NYSE American: VTAK), un'azienda MedTech specializzata in elettrofisiologia cardiaca, ha annunciato il suo primo ordine d'acquisto per LockeT da un ospedale nell'area metropolitana di Chicago. Questo ordine proviene da uno degli ospedali del Endeavor Health System, il terzo sistema sanitario più grande nell'Illinois con 9 ospedali, oltre 300 siti di assistenza e più di 7.100 medici.
L'azienda ha recentemente ampliato il suo team di vendite e clinico negli Stati Uniti in preparazione al lancio nazionale del prodotto LockeT. Marie-Claude Jaques, Chief Commercial Officer, ha espresso ottimismo riguardo all'infrastruttura di vendita dell'azienda e prevede ulteriori ordini d'acquisto nei prossimi mesi. Questo sviluppo è in linea con l'obiettivo di Catheter Precision di portare i potenziali benefici di LockeT a pazienti, medici e ospedali negli Stati Uniti.
Catheter Precision, Inc. (NYSE American: VTAK), una empresa de MedTech especializada en electrofisiología cardíaca, ha anunciado su primer pedido de compra de LockeT de un hospital en el área metropolitana de Chicago. Este pedido proviene de uno de los hospitales del Endeavor Health System, el tercer sistema de salud más grande en Illinois, que cuenta con 9 hospitales, más de 300 sitios de cuidado y más de 7,100 médicos.
La empresa ha ampliado recientemente su equipo de ventas y clínico en EE. UU. en preparación para el lanzamiento nacional del producto LockeT. Marie-Claude Jaques, Directora Comercial, expresó optimismo respecto a la infraestructura de ventas de la empresa y anticipa más pedidos de compra en los próximos meses. Este desarrollo se alinea con el objetivo de Catheter Precision de llevar los beneficios potenciales de LockeT a pacientes, médicos y hospitales en todo Estados Unidos.
Catheter Precision, Inc. (NYSE American: VTAK)는 심장 전기 생리학을 전문으로 하는 MedTech 회사로, 시카고 대도시 지역의 병원에서 LockeT에 대한 첫 구매 주문을 발표했습니다. 이 주문은 일리노이주에서 9개의 병원, 300개 이상의 치료 장소 및 7,100명 이상의 의사를 가진 Endeavor Health System 내 한 병원에서 왔습니다.
회사는 LockeT의 전국 출시를 준비하기 위해 미국 판매 및 임상 팀을 최근에 확장했습니다. 마리-클로드 자크 최고 상업 책임자는 회사의 판매 인프라에 대해 낙관적인 입장을 나타내며 향후 몇 개월 동안 더 많은 구매 주문이 있을 것으로 예상하고 있습니다. 이 개발은 Catheter Precision의 목표와 일치하여 LockeT의 잠재적인 이점을 미국 전역의 환자, 의사 및 병원에 제공하는 것입니다.
Catheter Precision, Inc. (NYSE American: VTAK), une entreprise MedTech spécialisée dans l'électrophysiologie cardiaque, a annoncé sa première commande d'achat pour LockeT d'un hôpital de la région métropolitaine de Chicago. Cette commande provient de l'un des hôpitaux du Endeavor Health System, le troisième plus grand système de santé de l'Illinois, disposant de 9 hôpitaux, de plus de 300 sites de soins et de plus de 7 100 médecins.
Récemment, l'entreprise a élargi son équipe de vente et clinique aux États-Unis en préparation du lancement national du produit LockeT. Marie-Claude Jaques, Directrice Commerciale, a exprimé son optimisme quant à l'infrastructure de vente de l'entreprise et anticipe de nouvelles commandes d'achat dans les mois à venir. Ce développement s'aligne avec l'objectif de Catheter Precision de faire bénéficier les patients, les médecins et les hôpitaux à travers les États-Unis des avantages potentiels de LockeT.
Catheter Precision, Inc. (NYSE American: VTAK), ein MedTech-Unternehmen, das auf die kardiologische Elektrophysiologie spezialisiert ist, hat seinen ersten Kaufauftrag für LockeT von einem Krankenhaus im Großraum Chicago angekündigt. Dieser Auftrag stammt von einem der Krankenhäuser innerhalb des Endeavor Health Systems, dem drittgrößten Gesundheitssystem in Illinois mit 9 Krankenhäusern, über 300 Pflegeeinrichtungen und mehr als 7.100 Ärzten.
Das Unternehmen hat kürzlich sein Verkaufs- und Klinikteam in den USA erweitert, um sich auf den nationalen Produktlaunch von LockeT vorzubereiten. Marie-Claude Jaques, die Chief Commercial Officer, äußerte Optimismus über die Verkaufsinfrastruktur des Unternehmens und erwartet in den kommenden Monaten weitere Kaufaufträge. Diese Entwicklung entspricht dem Ziel von Catheter Precision, die potenziellen Vorteile von LockeT Patienten, Ärzten und Krankenhäusern in den USA zugänglich zu machen.
- First purchase order for LockeT received from a hospital in the greater Chicago area
- Order comes from Endeavor Health System, the third largest healthcare system in Illinois
- Recent expansion of US sales and clinical team for national product launch
- Company anticipates more purchase orders in the coming months
- None.
The first purchase order for LockeT in the Chicago area marks a significant milestone for Catheter Precision. This entry into a major healthcare market could potentially lead to broader adoption within the Endeavor Health System, which boasts an extensive network of 9 hospitals and over 7,100 physicians. The timing aligns well with the company's recent expansion of its US sales and clinical team, suggesting a strategic approach to market penetration.
However, investors should note that while this initial order is promising, it's important to monitor the rate of subsequent orders and the volume of devices purchased to gauge true market traction. The company's ability to scale production and provide clinical support will be critical factors in capitalizing on this opportunity and achieving meaningful revenue growth in the competitive cardiac electrophysiology market.
Catheter Precision's entry into the Chicago market, particularly through the Endeavor Health System, is strategically significant. The third-largest healthcare system in Illinois provides a substantial foothold for potential expansion. This aligns with the broader trend of consolidation in healthcare systems, where gaining traction in one hospital can lead to system-wide adoption.
The company's focus on expanding its sales and clinical team ahead of this launch demonstrates foresight and could accelerate market penetration. However, investors should be cautious about extrapolating too much from a single purchase order. Key metrics to watch include the rate of adoption across other Endeavor hospitals, reorder rates and expansion into other major health systems. These factors will be important in determining whether this initial success translates into sustainable growth and market share gains in the competitive medical device sector.
FORT MILL, SC / ACCESSWIRE / September 4, 2024 / Catheter Precision, Inc. (NYSE American:VTAK), a MedTech company pioneering products in the growing field of cardiac electrophysiology, announced its first purchase order from a hospital in the greater Chicago area.
As previously announced, the company has recently expanded their US sales and clinical team in preparation for the national product launch of LockeT which includes the Chicago region.
The newest purchase order comes from one of the hospitals within the the Endeavor Health System, which includes 9 hospitals, more than 300 care sites and over 7,100 physicians, making it the third largest healthcare system in Illinois.
"Since joining Catheter Precision on May 1 of this year we have put in place the sales infrastructure needed to engage with new customers in both the United States and Europe, and thus far, we are seeing even more traction than we initially anticipated" said Marie-Claude Jaques, Chief Commercial Officer of Catheter Precision. "This new PO is one of many that we expect over the coming months and we look forward to bringing the potential benefits of LockeT to patients, physicians, and hospitals across the US."
About LockeT
Catheter Precision's LockeT is a suture retention device which assists 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 do not have sufficient liquidity to fund our operations through May 2024 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 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.
CONTACTS:
At the Company
David Jenkins
973-691-2000
IR@catheterprecision.com
# # #
Contact Information
Missiaen Huck
COO
mhuck@catheterprecision.com
9736912000
SOURCE: Catheter Precision
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