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Monday August 4 10:40 AM EDT
Company Press Release
Source: Vasomedical Inc.
Vasomedical Continues to Expand International Presence; Agreement
Signed with Tektronik, S.A.
WESTBURY, N.Y. Aug. 4 /PRNewswire/ -- Vasomedical Inc. (Nasdaq:VASO) (http://www.vasomedical.com) has entered into an agreement with Tektronik, S.A., of Argentina, for the distribution and sale of EECP(R) units in Argentina and Uruguay. In discussing this arrangement, Neal Stine, Director of International Operations, stated, ``We are especially excited to have the first EECP unit in Argentina installed in Fundacion Favaloro, one of the world's leading cardiac care centers. Headed by Dr. Rene Favaloro, the first surgeon to perform and document bypass surgery at the Cleveland Clinic thirty years ago, Fundacion Favaloro is responsible for many of the advances we now take for granted in the treatment of coronary artery disease.
``Tektronik is a well-established distributor specializing in the marketing and sale of cardiovascular products and services,'' said Mr. Stine. ``The principals of the company have a great deal of experience in
the marketing of medical devices. Tektronik represents a number of well-known and respected companies in the Argentine market, including Baxter, Allegiance Healthcare, Axiom, and Boston Scientific.''
The Argentine market represents a significant opportunity for Vasomedical and EECP. Cardiovascular disease is the leading cause of death in the country. The Obras Sociales (the primary group of payors in Argentina), under increasing cost pressure, are looking for ways to reduce the burden of high health care
costs while still providing access to quality care for all its members. EECP provides a lower cost and viable alternative for physicians to invasive procedures, such as angioplasty and bypass surgery.
EECP is a noninvasive treatment for patients with coronary artery disease. It is marketed internationally to hospitals, clinics, and other cardiac care providers. Vasomedical is a medical technology company devoted to the development, manufacture, and commercialization of innovative and cost-effective cardiovascular products. |
