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Enable Medical Corporation Signs a Sales Licensing Agreement with CardioThoracic Systems for Two New Products Used in Minimally-Invasive Heart Surgery
Source: PR Newswire
CINCINNATI, Jan. 17 /PRNewswire/ via Individual Inc. -- The Cardiovascular Division of Cincinnati-based Enable Medical Corporation is developing two products as part of a sales and marketing agreement valued over $10 million with CardioThoracic Systems (CTS). CTS is a rapidly-growing medical device company in Cupertino, California, which manufactures and markets a suite of devices designed to be used in Minimally Invasive Direct Coronary Artery Bypass (MIDCAB) surgery. The MIDCAB procedure eliminates the need to crack the chest and bypasses the need for a heart lung machine, because the surgeon is operating on a beating heart.
The agreement provides CTS with the exclusive sales rights to Enable's IMA (Internal Mammary Artery) Harvester and Saphenous Vein Harvesting System (SVHS). As part of the agreement, to emphasize the companies' mutual commitment to strategic partnering, Enable received a stock package currently valued at over $9 million, representing approximately 4% of CTS common stock. The estimated market for these two new products is over $100 million.
The IMA Harvester incorporates bipolar electrosurgical scissors designed to rapidly dissect the IMA, cauterize, with minimal thermal damage, and seal the side branches to prevent bleeding. The vessel can then be freed from the chest wall and grafted to one of the coronary arteries. The use of internal mammary arteries in bypass operations yields patency (the vessel remains open) rates that are unmatched by nonsurgical modalities, the most popular of which is PTCA (coronary angioplasty).
The Saphenous Vein Harvesting System is being designed to rapidly dissect the saphenous vein in the leg and cauterize and seal the branches. The SVHS is designed to harvest the saphenous vein through a series of small incisions in the leg, thereby replacing the continuous ankle-to-groin incision often required in conventional coronary artery bypass surgery.
Enable Medical Corporation is a Cincinnati, Ohio-based developer and manufacturer of innovative new products for minimally invasive surgery. It is comprised of two divisions. The Cardiovascular Division is focused on developing new products for minimally invasive heart surgery; the Endoscopic Division develops new minimally invasive products for general surgery, gynecology, urology, orthopaedics, ENT, and plastic surgery. For more information on Enable Medical Corporation call 513-755-7600, ext. 711; fax 513-755-7676. SOURCE Enable Medical Corporation
/CONTACT: Mike Hooven, President, of Enable Medical Corporation, 513-755-7600, ext. 711, or Ann Fisher, Media Relations, of Communications At Large, 513-943-1753/ CO: Enable Medical Corporation; CardioThoracic Systems ST: Ohio, California IN: MTC SU: LIC JS-CS -- CLF023 -- 1006 01/17/97 16:16 EST prnewswire.com
[01-18-97 at 12:00 EST, PR Newswire] |
