Healthcare Industry News: intravascular temperature
News Release - January 7, 2008
Alsius Corporation Awarded Marketing Agreement With MAGNET
Group Purchasing Organization Provides Access to 775 Acute Care HospitalsIRVINE, Calif., Jan. 7 (HSMN NewsFeed) -- Alsius Corporation (Nasdaq: ALUS ), which designs, manufactures and sells advanced temperature management therapies, was awarded a contract by Mid-Atlantic Group Network of Shared Services (MAGNET) to distribute Alsius' temperature management systems through MAGNET's network of 775 acute care hospitals throughout the New England, Mid-Atlantic and Midwest regions of the United States.
MAGNET is one of the oldest, largest and most experienced shared service organizations in the U.S., comprised of seven regional member organizations serving approximately 12,000 providers in 19 states. The partnership covers a three-year period, effective immediately, and will include distribution via MAGNET's extensive sales force and collaboration on customized marketing promotions.
"We are excited about the opportunity to partner with MAGNET, a purchasing organization with an outstanding reputation and extensive relationships with major acute care hospitals," said Bill Worthen, CEO of Alsius. "MAGNET's decision to distribute Alsius' intravascular temperature management systems validates the promise of our innovative technology to provide precise, efficient control of body temperature in patients in the intensive care unit and operating room."
"MAGNET is pleased to collaborate with Alsius to offer its temperature management systems to our hospital customers," said Derwood B. Dunbar, Jr., President and CEO of MAGNET. "We adhere to rigorous standards in choosing the highest quality products to provide to our network hospitals, and we believe that Alsius' technology satisfies all the criteria to meet our customers' needs."
About Alsius
Alsius, headquartered in Irvine, CA, is a commercial-stage medical device company that develops, manufactures and sells proprietary products to precisely control patient temperature in hospital critical care settings. Controlling body temperature, through cooling and warming, is becoming the standard of care for patients in select critical conditions and those undergoing a variety of surgical procedures. Alsius markets a comprehensive suite of catheter-based intravascular temperature management products that address the need for effective, accurate, easy-to-use and cost-effective control of body temperature in critical care patients.
Alsius' products consist of the CoolGard and Thermogard systems and three families of single-use catheters. The systems are computer-controlled temperature regulation units that circulate cool or warm saline in a closed- loop through balloons that surround the catheters. Alsius' catheters are inserted into a major vein through a patient's neck or groin and achieve rapid and precise temperature management through contact with the patient's blood flow. Unlike conventional external temperature management products, such as cooling and warming blankets and ice packs, Alsius' intravascular products cool and warm the patient from the inside out, more effectively managing body temperature and allowing caregivers easier access to administer patient care. For more information, visit www.alsius.com.
Safe Harbor
This press release may contain statements regarding plans and expectations for the future that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking. Such forward looking statements, based upon the current beliefs and expectations of Alsius' management, are subject to risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The information set forth herein should be read in light of such risks. Additional information concerning such risks and uncertainties are contained in Alsius' filings with the Securities and Exchange Commission, which can be accessed on the Securities and Exchange Commission website at www.sec.gov.
Source: Alsius
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