What To Know
- Catheter Precision has 35 issued patents and patent applications covering the VIVO technology, the Amigo® robotic system and its new closure device, which is anticipated to be commercialized in the first half of 2023.
- Under the terms of the definitive merger agreement with Ra Medical Systems, Catheter Precision will become a wholly owned subsidiary of Ra Medical Systems in a stock-for-stock reverse merger transaction.
Catheter Precision, Inc. (“Catheter Precision”), a medical device company focused on cardiac electrophysiology, announces the filing of a new U.S. patent application for its VIVO™ (View Into Ventricular Onset) technology, as it continues its focus on patent protection for VIVO. On September 12, 2022 privately held Catheter Precision announced a definitive merger agreement with Ra Medical Systems (NYSE American: RMED), which, if completed, will result in a combined publicly traded company focusing on the cardiac electrophysiology market.
The VIVO technology currently has significant intellectual property protection, with both issued patents and pending patent applications. Catheter Precision has 35 issued patents and patent applications covering the VIVO technology, the Amigo® robotic system and its new closure device, which is anticipated to be commercialized in the first half of 2023.
David Jenkins, Catheter Precision CEO, commented, “A strong intellectual property portfolio is key to building and protecting value within any medical device company. As such, we have kept a keen eye on our engineering advancements and our vision of the future, with an awareness of our inventive activities. We are proud that we continue to identify new and promising opportunities with our VIVO technology upon which to file and expand our IP estate.”
VIVO, Catheter Precision’s lead product, is a non-invasive 3D imaging system that enables physicians to identify the origin of arrhythmias pre-procedure, thereby streamlining workflow and reducing procedure time. VIVO has received marketing clearance from the U.S. FDA and has been awarded the CE mark. Catheter Precision recently announced that the VIVO technology was featured in multiple presentations at the Society of Cardiac Robotic Navigation Annual Meeting in Budapest, Hungary.
Under the terms of the definitive merger agreement with Ra Medical Systems, Catheter Precision will become a wholly owned subsidiary of Ra Medical Systems in a stock-for-stock reverse merger transaction. The merger is expected to close before the end of 2022, subject to satisfying certain closing conditions, including the receipt of shareholder approval by both companies.
