Waltham, MA – February 22, 2018 – Corindus Vascular Robotics, Inc. [NYSE American: CVRS], a leading developer of precision vascular robotics, announced today the successful completion of the first robotic-assisted peripheral vascular intervention procedure using the recently FDA-cleared CorPath GRX System. The procedure was performed by Joseph Ricotta, M.D., Medical Director of Vascular Surgery and Endovascular Therapy, Tenet Healthcare, Professor of Surgery, Charles E Schmidt College of Medicine, FAU. CorPath GRX is the first and only FDA-cleared medical device to bring robotic-assisted precision to both percutaneous coronary and percutaneous vascular interventional procedures.
"I am honored to have performed the first peripheral vascular procedure with CorPath GRX. GRX enables me to combine enhanced visualization of the X-ray images with the precision of robotics to transform the way we perform peripheral vascular procedures and should ultimately improve patient care," said Dr. Ricotta. "I look forward to partnering with Corindus to pioneer robotics for endovascular therapies, providing benefits to both healthcare professionals and patients."
Peripheral artery disease (PAD) is a disease of blood vessels outside the heart that commonly affects arteries carrying blood to the lower extremities. It is estimated that 8.5 million people in the United States are living with PAD.1
"We are privileged to partner with Dr. Ricotta as the first physician in the U.S. to perform peripheral vascular interventions with the CorPath GRX System following FDA clearance for this indication," said Mark Toland, President and Chief Executive Officer of Corindus. "The adoption of the CorPath GRX System at Delray Beach Medical Center emphasizes their continuous commitment to delivering state of the art technology to their patients and clinical community."
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 percutaneous coronary and percutaneous vascular 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. CorPath GRX is the second generation robotic-assisted PCI technology offering enhancements to the platform by adding important key upgrades that increase precision, improve workflow, and extend the capabilities and range of procedures that can be performed robotically. 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.
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 forwardlooking 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 events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside Corindus’ control.
Examples of such statements include statements that GRX enables enhanced visualization of the x-ray images to be combined with the precision of robotics to transform the way peripheral vascular procedures are performed and should ultimately improve patient care.
Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are described in the sections titled "Risk Factors" in the company's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as reports on Form 8-K, including, but not limited to the following: the rate of adoption of our CorPath System and the rate of use of our cassettes; risks associated with market acceptance, including pricing and reimbursement; our ability to enforce our intellectual property rights; our need for additional funds to support our operations; our ability to manage expenses and cash flow; factors relating to engineering, regulatory, manufacturing, sales and customer service challenges; potential safety and regulatory issues that could slow or suspend our sales; and the effect of credit, financial and economic conditions on capital spending by our potential customers. Forward looking statements speak only as of the date they are made. Corindus undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date. More information is available on Corindus' website at http://www.corindus.com.