news
Press release
 
February 10, 2017
Corindus Vascular Robotics Announces First Commercial Procedures Performed Using CorPath® GRX System

Procedures Performed at NewYork-Presbyterian, UC San Diego Health, and University of Virginia Health System

WALTHAM, MA — FEBRUARY 10, 2017 — Corindus Vascular Robotics, Inc. [NYSE MKT: CVRS], a leading developer of precision vascular robotics, announced today that the first commercial procedures have been performed using its CorPath GRX System following the company’s recent 510(k) clearance from the U.S. Food and Drug Administration (FDA). In early February, NewYork-Presbyterian, UC San Diego Health, and University of Virginia Health System used the CorPath GRX System to perform robotic-assisted PCI procedures. Corindus began limited installations of the CorPath GRX System in January 2017 with plans for a full commercial launch in late February.

Hospital programs provided positive feedback on their initial experience with the CorPath GRX System.

Manish Parikh, MD, Associate Director of the Cardiac Catheterization Laboratory at NewYork-Presbyterian, stated, "We are proud to be among the group of premier hospitals that performed the first cases in the world using the new CorPath GRX System. The enhancements provided by CorPath GRX represent a dramatic improvement in the capabilities in robotic PCI and have the potential to provide significant improvements in patient care."

Ehtisham Mahmud, MD, Division Chief of UC San Diego Health, Cardiovascular Medicine and Medical Director, Sulpizio Cardiovascular Center, stated, "I am impressed with the additional capabilities of the new GRX System. The redesigned bedside unit, intuitive control console, and especially guide catheter control further facilitate complex PCI procedures. It also enables me to train other interventionalists and fellows in state-of-the-art robotics."

Michael Ragosta, MD, Interventional Cardiologist, stated, "The CorPath GRX System provides me with complete robotic control during complex PCI procedures. Using CorPath GRX and its radiation-shielded cockpit has enabled me to expand the number of procedures I can perform."

CorPath GRX offers enhancements to the CorPath platform by adding important key upgrades that increase precision, improve workflow, and extend the capabilities and range of procedures that can be performed robotically. The unique Active Guide Management feature allows interventional cardiologists to control the guide catheter, which was not possible with the first generation technology. Physicians now have independent and simultaneous robotic control of guide catheters, guidewires, and balloon/stent catheters, with one-millimeter advancement, from the cockpit console. This precise positioning that allows physicians to adjust guide catheters during PCI procedures may expand the use of the CorPath GRX System to more complex cases. CorPath GRX also features a completely redesigned bedside unit featuring an extended reach arm and touchscreen display to streamline workflow.

"Completion of these initial CorPath GRX procedures marks an important step forward in vascular robotics," said Mark Toland, President and Chief Executive Officer of Corindus Vascular Robotics. "We are committed to continuing to develop and deliver innovative products to advance the field of cardiovascular robotics and support better patient outcomes."

About Corindus Vascular Robotics, Inc.

Corindus Vascular Robotics, Inc. is a global technology leader in robotic-assisted vascular interventions. The company's CorPath System is the first FDA-cleared medical device to bring robotic precision to interventional procedures. During the procedure, the interventional cardiologist sits at a radiation-shielded workstation to advance guide catheters, stents, and guidewires with millimeter-by-millimeter precision. The workstation allows the physician greater control and the freedom from wearing heavy lead protective equipment that causes musculoskeletal injuries. With the CorPath System, Corindus Vascular Robotics brings robotic precision to interventional procedures to help optimize clinical outcomes and minimize the costs associated with complications of improper stent placement during manual procedures. Corindus stands behind its product with its unique $1,000 hospital credit "One Stent Program."

For additional information, visit www.corindus.com, and follow @CorindusInc.

Forward Looking Statements

Statements made in this release that are not statements of historical or current facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Corindus to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that includes terms such as "believes," "belief," "expects," "estimates," "intends," "anticipates" or "plans" to be uncertain and forward-looking. Forward-looking statements may include comments as to Corindus’ beliefs and expectations as to future event

Examples of such statements include statements:

  • that the level of precision that can be attained using the CorPath GRX technology, combined with the potential for remote capabilities in the future, will both expand and improve how patients are treated;
  • that Corindus has entered a transformational period with a focus on expanding its reach to partner with hospitals to build robotic programs globally;
  • that the successful completion of these procedures at Fu Wai Hospital is the first step in Corindus' growth strategy within China; and that
  • the precise positioning enhancements to the CorPath platform that allows physicians to adjust guide catheters during PCI procedures may expand the use of the CorPath GRX System to more complex cases.

Media Contacts:

Corindus Vascular Robotics, Inc.

Kate Stanton
(508) 653-3335 ext. 200
kate.stanton@corindus.com

Investor Contact:

Lynn Pieper Lewis
(415) 937-5402
ir@corindus.com
 
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