(Oslo, 23 September 2015) Medistim ASA (OSE: MEDI) is a medtech company that develops and sells equipment for intraoperative ultrasound based surgical guidance and quality assurance in connection with the intervention of condensed arteries. The company announces that it introduces its new solution within vascular surgery during the annual Congress of the European Society of Vascular Surgery (ESVS).
ESVS Congress gathers vascular surgeons from across Europe and is this year held in Porto, Portugal from 23 to 25 September. At this congress Medistim will present its new system MiraQ™ Vascular together with new custom made flow probes that are specifically designed to meet the needs of intraoperative ultrasound guidance and quality assurance within vascular surgery. The system represents a new product line that is originated from the MiraQ™ platform. The first product line on this platform was MiraQ™ Cardiac, launched in October 2014. In addition to general improvements, the MiraQ™ Vascular product comes with specialized control panel, an application that is customized with a user interface adapted to the vascular surgeons needs, and new probes tailored for the vascular application areas.
The launch of the new vascular solution is in line with Medistims strategy, as stated earlier by the company. The global vascular market represents a significant opportunity for Medistim and is estimated to represent approximately 600,000 procedures annually. In comparison, cardiac bypass surgery, a segment where Medistim has its strongest position with a global market penetration of 20-25%, represent 700,000 procedures annually. Medistim estimate that the vascular market has an annual potential of NOK 1 billion. The company is well positioned in the vascular market in the Nordic countries and in Germany, but has so far only a modest coverage in vascular segment in other countries.
There are many types of applications within vascular surgery. Key target segments for Medistim will be peripheral bypass surgery and carotid endarterectomy, where the global number of procedures performed per year is 200,000 and 225,000 respectively. Peripheral bypass surgery is performed primarily on the major arteries in the legs. Carotid endarterectomy is a procedure where blockages in the neck arteries surgically are removed to ensure fresh blood flow to the brain. The new MiraQ™ Vascular product support both type of interventions using ultrasound imaging and blood flow measurements to guide the surgeon during the procedure and to quality assure clinical outcome.
“We are very pleased to introduce an integrated and customized solution for vascular surgery” says Kari E. Krogstad, CEO of Medistim ASA. “This is in accordance with our strategy and we will now work focused towards this customer group that represent a huge revenue potential for Medistim”.
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