Japan Medicalnext Co., Ltd. Establishes CorPath® Robotic Center in Tokyo Headquarters of MC Healthcare
Waltham, MA – September 27, 2017 – Corindus Vascular Robotics, Inc. [NYSE American: CVRS], a leading developer of precision vascular robotics, announced today the opening of the first international CorPath GRX Robotic Center in Tokyo, Japan. Earlier this year, Corindus partnered with Japan Medicalnext Co., Ltd., a wholly-owned entity of MC Healthcare, Inc. (subsidiary of Mitsubishi Corporation), to become the exclusive distributor of Corindus products in Japan, bringing robotic-assisted percutaneous coronary interventions (PCI) to the Japanese market. The first three CorPath GRX Systems were shipped to Japan Medicalnext by July and will be used at its newly constructed robotic center according to Japan’s regulation.
"The opening of the first international robotic center represents an important milestone in the process of bringing precision vascular robotics to patients and physicians in Japan, and around the world," said Tal Wenderow, Co-Founder and Executive Vice President of International and Business Development of Corindus. "Japan is the third largest PCI market with approximately 250,000 annual procedures, and is an important market as we grow our business internationally. We look forward to introducing our technology to the Japanese cardiology community."
The robotic center and robotic simulation lab will be used to educate interventional cardiologists on the benefits of robotic-assisted PCI procedures. 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.
"Robotic-assisted PCI is a natural extension of our current capabilities and will fit well within our current practice," said Takafumi Ueno, MD, PhD, Director of Interventional Cardiology, Center of Cardiovascular Disease, Kurume University Hospital. "I look forward to seeing the positive impact the CorPath GRX System will have on patients and physicians."
In preparation for commercial launch of CorPath GRX in Japan, the Company is working with Japan Medicalnext to secure Pharmaceutical and Medical Device Agency (PMDA) approval.
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.
MC Healthcare, Inc. is a group company of Mitsubishi Corporation, a global integrated business enterprise that develops and operates businesses across virtually every industry, including industrial finance, energy, metals, machinery, chemicals, and daily living essentials. As a leading company in the healthcare industry in Japan, MC Healthcare provides medical professionals with various services such as procuring and managing medical materials, pharmaceuticals, and medical equipment for hospitals nationwide while also providing a variety of menus to help improve management, including group purchasing systemized between multiple hospitals, thereby offering total support for the operations of medical institutions.
Japan Medicalnext Co., Ltd. is a wholly owned entity of MC Healthcare, Inc. The company imports and sells state-of-the-art medical equipment and consumables to serve various clinical fields, aiming to contribute to the realization of more enriched medical care through the advancement of medical technology.
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 events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside Corindus’ control, including the ability of Japan Medicalnext and Corindus to obtain PMDA approval for the CorPath GRX and realize the benefits of the distribution agreement related thereto.
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.