HAIFA, Israel, November 20 /PRNewswire-FirstCall/ -- Cardio Vascular Medical Device Corp. (CVSL.OB), http://www.cvslmedical.com/, a leading developer of advanced cardiovascular surgery technology, today announced that the company's Board of Directors has decided to initiate patent applications in Europe, Canada and the Far East for its proprietary next-generation "steerable guidewire" applicable for all angioplasty (PCTA) procedures.
Cardio Vascular Medical Device already holds a US patent for the innovative guidewire. The company has elected to apply for the additional patents in order to penetrate a worldwide commercial marketplace for the life-saving angioplasty procedure.
Angioplasty is a common procedure that is performed to widen narrowed or obstructed blood vessels. The procedure is often performed in place of, or before a more invasive and potentially life-threatening bypass surgery is needed. Angioplasty that is performed before an artery is fully-blocked can prevent the onset of heart attacks.
More than seven million angioplasties are performed worldwide each year. The potential addressable market for angioplasty equipment exceeds $500 million.
According to the World Health Organization, some 7.2 million men and women die as a result of cardiac heart disease. Heart disease is the leading cause of death for both women and men in the United States.
"Filing these additional patent applications is the first stage in aiding cardiologists in the process of saving lives across the globe," stated Eli Gonen, CEO of Cardio Vascular Medical Device Corp.
"The ability to steer our guidewire during angioplasty procedures using our patented flexi-tip enables more difficult procedures to be completed with greater ease, and speeds overall procedure time," Gonen added. "Due to these significant advantages, Cardio Vascular Medical Device's guidewire has the opportunity to become the guidewire of choice for surgeons throughout the world."
Forward-Looking Statements
This letter contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of Cardio Vascular Medical Device Corp. and its technologies. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release, as actual results may differ materially from those indicated in the forward-looking statements. Cardio Vascular Medical Device Corp. public filings may be viewed at http://www.sec.gov/.
Contact: Alex Traiman Media Relations +1-646-863-9729 Asher Zwebner +972-54-464-6363 asher@fxmng.com
Cardio Vascular Medicine Device Corp.
CONTACT: Contact: Alex Traiman, Media Relations, +1-646-863-9729. Asher
Zwebner, +972-54-464-6363, asher@fxmng.com
