Healthcare Industry News: HeartStitch
News Release - April 11, 2007
Sutura and Craig-Hallum Capital Group Expand Strategic Distribution Partnership DiscussionsFOUNTAIN VALLEY, CALIFORNIA--(Healthcare Sales & Marketing Network)--Apr 11, 2007 -- Sutura, Inc. ("Sutura") (OTC BB:SUTU.OB ), an innovative developer of minimally invasive vascular suturing devices, announced today it is has retained Craig-Hallum Capital Group LLC, a nationally recognized investment banking firm, to explore strategic alternatives to enhance shareholder value. These strategic alternatives may include distribution partnerships, marketing arrangements, or the merger or sale of all or part of the Company.
David Teckman, President and CEO of Sutura stated, "Sutura is committed to pursuing any and all strategic relationships that have the potential to strengthen our market position and help to further develop and deliver our innovative product line to customers."
About Craig-Hallum Capital Group LLC
Craig-Hallum Capital Group LLC is a nationally recognized investment banking firm dedicated to growth companies and the institutional investing community. The firm provides a full range of investment banking services including M&A, equity underwriting, and private placements. More information on Craig-Hallum can be found at www.craig-hallum.com
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 to suture the puncture created in arteries during open surgery and catheter-based procedures. The Company's line of SuperStitch medical devices provide sutured closure of the arteriotomy site utilizing the existing catheter sheath introducer or cannula during fluoroscopically guided procedures and directly through the open arteriotomy during open surgical procedures.
Within the United States the, 5F, 8F , 6F & 12F SuperStitch devices are cleared for use in performing vascular stitching in general surgery, including endoscopic procedures. It is not intended for blind closure of an arteriotomy site. The SuperStitch 5F,6F , 8F, & 12F are approved in the European Union and CE marked with the indication for use as follows: The SuperStitch is indicated for use in performing vascular stitching in general surgery, including endoscopic procedures. In the EU there is no requirement for the use of fluoroscopic guidance. 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 ability of the company to raise additional funds necessary for the continued operation of the company, acceptance of the SuperStitch® and HeartStitch® 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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