Healthcare Industry News: vascular closure
News Release - December 8, 2006
Sutura Issues Corporate Update: Announces Performance Upgrade to SuperStitch Suturing DeviceFOUNTAIN VALLEY, CALIFORNIA--(Healthcare Sales & Marketing Network)--Dec 8, 2006 -- Sutura, Inc. ("Sutura") (OTC BB:SUTU.OB ), a California-based medical device company, today issued the following corporate update:
SuperStitch® Product Upgrade
Sutura has enhanced the performance of its SuperStitch product line with two design features that are expected to improve the learning curve and performance of the SuperStitch. The reduced force handle of the KwiKnot lessens the required force to deploy the KwiKnot making deployment easier and lessening the dependence on training of a specific required deployment force. Secondly, the natural offset of the needle deployment through the tissue has been increased to improve the penetration of the needles through the vessel wall during suturing. This enhancement, similar to the KwiKnot enhancement, lessens the required force on the deployment and is expected to increase performance and lessen the learning curve.
"The SuperStitch was designed to deploy its needles sequentially through tissue to avoid the forces of simultaneously advancing through the vessel, this increase in the offset should reduce those forces and make the device easier for the physician to deploy," says Anthony Nobles, Chief Science Officer at Sutura, Inc.
Strategic U.S. Distribution Partner
Sutura has decided to seek a corporate partner for SuperStitch sales and distribution in the United States. Once identified, the strategic distribution partner would market and distribute Sutura's broad line of SuperStitch vascular suturing devices in the U.S. This follows the Company's decision to phase out its direct sales and sales support personnel at its offices in Fountain Valley, California. This decision reflects the difficulty small companies like Sutura have in effectively penetrating the Cardiology/Cath-lab market.
David Teckman, President and CEO of Sutura stated, "A strategic distribution partnership will help strengthen Sutura's market position in the U.S. and is an opportunity to aggressively expand Sutura's U.S. sales force and improve customer service and product support." Teckman also noted that Sutura expects to reach an agreement with U.S. distribution partner sometime in early 2007.
Technology Visions Group (TVG) Business
Sutura has decided to close down the TVG business unit effective December 31, 2006. Technology Visions Group was Sutura's reverse merger partner 12 months ago. TVG had been developing technologies designed for use in the environmental industry.
"We believe the near term business prospects for revenue from TVG are minimal," said David Teckman. "And we have decided to focus all of our efforts and resources on Sutura's medical device business."
About Sutura, Inc.
Sutura®, Inc. (www.suturaus.com) is a medical device company that has developed a line of innovative, minimally invasive, vascular suturing devices for use during open surgery and endoscopic procedures. The Company's line of SuperStitch medical devices provides sutured closure utilizing the existing catheter sheath introducer or cannula during fluoroscopically guided procedures and directly through the open arteriotomy during open surgical procedures. The SuperStitch devices are not intended for blind vascular closure. The SuperStitch 8F & 6F are also approved in the European Union and CE marked. Sutura's headquarters are in Fountain Valley, California. "Sutura®" and "SuperStitch®" are registered trademarks of Sutura, Inc.
Forward-Looking Information Is Subject to Risk and Uncertainty
Certain statements in this press release may contain projections or "forward-looking" information (as defined in the Private Securities Litigation Reform Act of 1995) that involve risk and uncertainty. The words "aim", "plan", "likely", "believe", "expect", "anticipate", "intend", "estimate", "will", "should", "could", "may", "appears", and other expressions that indicate future events and trends identify forward-looking statements. These statements are not guaranties of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Actual outcomes and results may differ materially from what we express or forecast in these forward-looking statements. As a result, these statements speak only as of the date they were made and we undertake no obligation to publicly update or revise any forward-looking statements. Our actual results and future trends may differ materially from our forward-looking statements depending on a variety of factors including the acceptance of the SuperStitch® devices by medical providers and the marketplace in general and the success of the proposed sales and marketing plan , the ability of the company to establish a successful distribution relationship with a strategic partner, the continued growth of the vessel closure marketplace and the company's ability to continue to expand and protect its technology patents.
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