Apex Heart Institute of India to Become Global Center of Excellence
Waltham, MA – December 14, 2017 – Corindus Vascular Robotics, Inc. [NYSE American: CVRS], a leading developer of precision vascular robotics, announced today the first commercial installation of a CorPath GRX System outside of the United States. The system was purchased by the Apex Heart Institute in Ahmedabad, India, a state of the art cardiology center. Corindus will partner with Apex Heart Institute to develop a Global Center of Excellence to train interventional cardiologists on robotic-assisted percutaneous coronary interventions (PCI).
The hospital’s first complete robotic procedure was performed via left dorsal transradial access by Tejas Patel, M.D. Dr. Patel is Chairman and Chief Interventional Cardiologist at the Apex Heart Institute and a global key opinion leader and pioneer of the transradial access technique, training over 5,000 physicians on his techniques over the course of his career. Procedures performed via transradial access have shown significant benefits for patients including reduced incidence of major bleeding and vascular complications and increased patient satisfaction.
"After completing the initial cases with CorPath GRX, I and my partner Dr. Sanjay Shah are very impressed by the capabilities of the system in complex procedures and the level of precision we are able to deliver," stated Dr.Patel. "Robotics is an important component of the future of interventional cardiology at Apex Heart Institute. We look forward to pioneering this technology in India and around the world.
Mark Toland, President and Chief Executive Officer of Corindus, stated "We are pleased that Apex Heart Institute has launched the first robotic program in India, successfully performing eleven PCI procedures during its first three days of use. India represents a new and developing market area for Corindus, and we are looking forward to working with Dr. Patel and the Apex Heart Institute as we introduce our precision vascular robotics to this area."
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 interventions. 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.
Forward Looking Statements
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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