(Oslo, February 19th, 2015) Medistim ASA (OSE:MEDI), a Norwegian company that develops and commercializes medical equipment for use within cardiac, vascular and transplant surgery, announces that they have received clearance from the China Food and Drug Administration (CFDA) for sale of its product VeriQ™ C. VeriQ C represents Medistim’s most advanced intraoperative model for quality assessment used during coronary artery bypass grafting (CABG). The system combines state-of-art transit time blood flow measurements (TTFM) with an 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 a unique tool that can contribute to improved surgical precision and quality, which may ultimately provide better outcomes for 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 obtained clearance from the US Food and Drug Administration (FDA), the CE certificate in Europe, and the clearance for sale in Japan and Canada. Medistim is now positioned to sell the VeriQ C in all its major markets.
Globally, about 700 000 coronary artery bypass graft (CABG) procedures and 600.000 vascular procedures are being performed every year. China represents a significant market opportunity for Medistim with about 35.000 CABG procedures performed per year and a projected annual growth rate of 10 %.Today, Medistim covers about 30 % of these procedures with its traditional flow measurement system VeriQ™ “Medistim is well positioned for further growth in China, with a number of systems placed with the largest cardiac centers and supported by leading Chinese surgeons, says Kari E. Krogstad, President and CEO in Medistim ASA and continues: “Finally we can offer our premium products to the Chinese market. There is already a growing interest for the combination of ultrasound imaging and TTFM measurements amongst surgeons in China, and the future outlook is good.”
For more information, contact:
President and CEO, Kari E. Krogstad, Medistim ASA
Tel: + 47 918 38 110
CFO, Thomas Jakobsen, Medistim ASA
Tel: + 47 906 59 940