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Catheter Precision, Inc. (NYSE American: VTAK) is a forefront player in the medical technology field, dedicated to advancing cardiac electrophysiology. This U.S.-based company boasts a strong commitment to enhancing patient outcomes and medical procedures through its innovative product lines.
The company’s flagship products include the VIVO™ system and the LockeT™ device. The VIVO™ (View Into Ventricular Onset) system is a non-invasive 3D imaging technology that aids physicians in pinpointing the origins of ventricular arrhythmias before EP procedures. This system is instrumental in improving procedural success rates and reducing time for mapping and procedures, having received both FDA clearance and CE Mark for commercialization in the U.S. and Europe, respectively.
Catheter Precision’s LockeT™ is a suture retention device designed to assist in hemostasis following percutaneous venous punctures. As a Class 1 FDA-registered device, LockeT has the potential to become a standard in wound closure, particularly in high-volume settings such as electrophysiology, vascular surgery, and interventional radiology.
The company's commitment to growth and development is evident in its recent strategic initiatives. In March 2024, Catheter Precision sponsored a session at the Monaco USA Arrhythmia Course, showcasing its VIVO system to key opinion leaders in the field. Subsequent to this, the company reported substantial year-over-year revenue growth in its Q4 and annual financials for 2023, reflecting increased market adoption of its products.
In terms of clinical progress, Catheter Precision has concluded significant patient enrollments for its VIVO European Registry and initial clinical trials for LockeT, both showing promising data. The company continues to bolster its intellectual property, having filed 8 new patent applications and received 6 issuances over the past year. These efforts underline Catheter Precision's commitment to maintaining its competitive edge through continuous innovation.
Additionally, the company has been expanding its business development team, onboarding industry veterans to drive market penetration and sales growth. This strategic move is aligned with its goal of achieving substantial revenue milestones and positioning itself as a leader in the electrophysiology market.
As part of its recent accomplishments, Catheter Precision received its first purchase order for the LockeT device from HCA Healthcare, a significant validation of the product's value. Furthermore, the company announced the addition of Marie-Claude Jacques as the Chief Commercial Officer, bringing in extensive experience from Boston Scientific and Baylis Medical to steer commercialization efforts.
Going forward, Catheter Precision remains focused on its two core products, VIVO and LockeT, while seeking additional financing solutions to support its growth objectives. The company's strategic vision and operational execution continue to underscore its potential for significant impact in the medical technology landscape.
Catheter Precision announced the receipt of its first purchase order for VIVO from Qatar. The VIVO device aids in streamlining ventricular ablation procedures, potentially saving time and reducing patient complications. This order follows an initial evaluation completed earlier this year at Hamad Medical Heart Hospital in Doha. The company aims to continue its expansion strategy in the Middle East.
Catheter Precision announced a new purchase order for its medical device, LockeT, from Eisenhower Medical Center in Rancho Mirage, California. This marks the third hospital in California and the second in the U.S. to move beyond evaluation and approve orders for future use. The company has expanded its U.S. sales and clinical team to prepare for LockeT's national launch. LockeT aims to streamline procedures in operating and recovery rooms, potentially saving time and money. Chief Commercial Officer, Marie-Claude Jacques, expressed confidence in LockeT's growing recognition and the success of their commercial strategy.
Catheter Precision, Inc. (NYSE: VTAK) announced initial orders from Ronald Reagan UCLA Medical Center and Rady Children’s Hospital in San Diego for their newest product, LockeT. The company has expanded their US sales and clinical team in preparation for the national product launch, resulting in increased product evaluations and purchase orders.
Catheter Precision, Inc. (VTAK) has received a purchase order for LockeT, its newest product, from the University of California San Diego (UCSD) health system. This order allows for product evaluations at the hospital to begin. CEO David Jenkins emphasized the importance of hospitals evaluating products before committing to long-term purchases. VP Robert Locke praised UCSD as an early adopter of new technologies in electrophysiology.
Catheter Precision, Inc. (NYSE American: VTAK) released its Q1 2024 financials and operational report, highlighting key achievements and financial results. The company showcased progress in product development, clinical studies, and market expansion activities, along with a focus on talent acquisition to support future growth. With a solid financial position and a clear strategy, Catheter Precision aims to drive innovation in the field of cardiac electrophysiology.
Catheter Precision, Inc. (NYSE-American: VTAK) announces Marie-Claude Jacques as the new Chief Commercial Officer. With a background in successful sales leadership at Baylis Medical and Boston Scientific, Jacques aims to drive growth and success for Catheter Precision.
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