VeriQ C is Medistim’s new generation of intraoperative systems for quality assessment used during coronary artery bypass grafting (CABG). The new system combines state-of-art transit time blood flow measurements (TTFM) with a new ultrasound imaging modality. By using ultrasound imaging, it will become easier for the surgeon to plan, optimize and assess quality of the surgical procedure. VeriQ C is therefore a new tool that will contribute to improved surgical precision and quality, which may ultimately provide better outcomes to the patients.
In addition to CABG, the VeriQ C may be applied in other surgical areas, such as valve surgery, surgery of congenital heart defects, transplant surgery and vascular surgery.
Medistim has already clearance from the FDA (Food and Drug Administration) in the US, the CE approval in Europe and clearance in Japan. With the clearance from Canada, Medistim is now positioned to sell the VeriQ C in most of its major markets.
The new product more than doubles Medistim’s market potential, both due to the new application areas, but also because the value of this system increases significantly compared with the VeriQ without the imaging modality.
Globally, about 730 000 CABG procedures and 600.000 vascular procedures are being performed every year.
The largest market for Medistim’s products is North America, constituting about 40 % of the global market. North America represents a big potential for Medistim, as equipment for quality assessment is only being used in about 20% of the procedures performed every year. It is expected that a significant share of hospitals with VeriQ systems will convert to VeriQ C over time, and that the introduction of imaging will accelerate the market’s acceptance for intraoperative quality assessment in general.
With both TTFM and ultrasound imaging cleared by health authorities, the recommendation for routinely use from leading organizations like the British National Institute for Health and Clinical Excellence (NICE), the European Society of Cardiology (ESC)/European Association of Cardiothoracic Surgery (EACTS) and others, Medistim has taken important steps forward towards the goal of becoming “standard of care” also in the North American market.
For more information, contact:
President & CEO, Kari E. Krogstad, Medistim ASA
Tel: + 47 918 38 110
CFO, Thomas Jakobsen, Medistim ASA
Tel: + 47 906 59 940